The Nigerian Exchange Ltd. (NGX) has listed Africa Infra Plus Fund (AIPF I), a N20.5 billion closed-end infrastructure fund, on the Exchange towards championing sustainable investment in Africa.
The listing of the Africa Infra Plus Fund 1 at the Exchange commemorated the Closing Gong Ceremony on Tuesday, January 24, 2023, in Lagos.
The fund, co-managed by Africa Plus Partners Plc, and Capitaltrust Investments & Asset Management Ltd., is Nigeria’s first Carbon+ (ESG-focused) naira-denominated infrastructure fund to be listed on the Exchange.
AIPF 1’s structure is a pool of equity and quasi-equity investments in Carbon+ infrastructure projects that promote sustainable development including, but not limited to roads, power, water supply, wastewater management, ports and airports.
The fund also acquires the shares and other investment instruments issued by socially responsible entities carrying out infrastructure business or executing infrastructure projects exclusively.
The Chief Executive Officer, NGX, Mr Temi Popoola, said the listing marked a significant milestone in the commitment of the Exchange to promoting sustainable investment and reducing the drivers and impact of climate change.
“We are proud to be at the forefront of this and look forward to more exploits as we drive growth in the capital market,” he said.
Africa Plus Partners Chairman, Mr Anhad Narula, said the AIPF I was a sustainable infrastructure fund that specialised in carbon mitigating infrastructure investments.
According to him, the fund, whose investors include ordinary Nigerians via their pension fund administrators, is committed to investing in sustainable infrastructure businesses that align with the global energy transition.
Narula noted that the fund moved towards cleaner sources of energy and efficiently ran sustainable infrastructure and utility services.
On his part, Managing Director, Africa Plus Partners Plc, Mr Adeniran Ajakaiye, stated that with the listing, the company aimed to demonstrate the highest levels of good governance and transparency as it continued to deliver active returns to shareholders, whilst addressing Nigeria’s infrastructure gap.
AIPF aims to address the imbalance between the need for infrastructure development and the concerns about environmental and social impact by investing in projects that meet strict ESG criteria.
The listing of the fund on NGX is a clear indication of the growing interest and demand for sustainable investing in Africa and the Exchange’s commitment to the same.
NGX also plans to launch an Impact Board to further give visibility to sustainable financial instruments listed on the Exchange and to encourage more listings in the sustainable finance segment as part of its sustainability drive for the capital market.
By Olawunmi Ashafa