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AGF Magazine - April 2019 issue

  • In a region where only a minority of the population has access to a bank account and SMEs struggle to get financial help from traditional banks, Albert Alsina, CEO and Founder of Mediterrania Capital Partners, explains how the PE industry is becoming a catalyst for the African Fintech ecosystem’s development, enabling large-scale banking and supporting entrepreneurs and SMEs in their expansion plans (pp. 10-12).
  • In this month’s issue of Africa Global Funds, we also caught up with Kenneth Kaniu, Britam Asset Managers CEO, to learn about their anchor investment in Tiserin Capital, and the needs and constraints of institutional investors in Kenya and East Africa (pp. 14-15).
  • On the infrastructure front, we hear from Moritz Breickmann, Investment Director at African Infrastructure Investment Managers (AIIM) who showcases some successful airport redevelopments in Africa. Read on to find why airport infrastructure projects on the continent can provide attractive long term returns to investors (p.17).
  • In this month’s issue we also learn that the FTIF Templeton Africa Fund was merged into the FTIF Templeton Frontier Markets Fund. We speak with Ahmed Awny and David Haglund about the Fund and its African investments (p.16).
  • Finally, Rob Childs, Head of International for Prescient Fund Services shares his views on the global distribution challenges facing African fund managers and why the firm decided to domicile their offshore fund range in Ireland (p. 22).
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News > Private Equity > Deals

responsAbility provides $4m to REDAVIA

Staff writer
Oct. 17, 2018, 9:42 p.m.
583

Word count: 391

Solar technology company REDAVIA and the responsAbility-managed climate fund have signed a $4m financing agreement for REDAVIA's Ghanaian subsidiary. 

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Solar technology company REDAVIA and the responsAbility-managed climate fund have signed a $4m financing agreement for REDAVIA's Ghanaian subsidiary. 

Stefan Issler, Head Energy Debt Financing – Direct Investments at responsAbility, said: “We are thrilled to expand our financing activity in the distributed energy area by adding a provider of a scalable business model for the industrial and commercial sector to our portfolio. The reliable availability of affordable electricity is a key prerequisite for economic development, and we are pleased to actively support REDAVIA in their contribution to the SDGs.”

The debt financing will allow REDAVIA to supply Ghana’s industrial and commercial sector with affordable, reliable and clean power generated through modular solar farms.

responsAbility and REDAVIA have worked together on this innovative and first of its kind debt facility, the Industrializing Africa Solar Funding Platform, which combines an efficient use of funds and a scalable facility for other potential funding partners.

REDAVIA offers solar power for businesses and communities with a regional focus on East and West Africa. 

The Germany-based company with subsidiaries in Ghana, Tanzania, Kenya and Luxembourg has a proven track-record in solar farm design, manufacturing, deployment and maintenance and targets the local business community including agro-foods processing, manufacturing, public infrastructure, hospitality & real estate companies, mining & minerals, communities and utilities.

The REDAVIA solar farm is based on a pre-configured system, consisting of high-performance solar modules and high-quality electrical components. 

Flexible lease agreements allow customers a cost-effective, reliable and clean energy solution with just a minimal upfront investment, and operational adaptability to market changes.

REDAVIA solar power enables a seamless integration into the existing electricity supply infrastructure of a business or community to ensure a more cost-effective and cleaner energy mix - with diesel generators, in a battery set-up or as a reliable complement to grid-connected power. 

As such, REDAVIA is supporting the reduction of carbon emissions and increasing the impact on a sustainable society.

“Ghana continues to be a very promising market for us and we are excited that responsAbility has the trust and confidence in our ability to deliver and add value to its portfolio,” said Erwin Spolders, CEO and Founder of REDAVIA. 

“This partnership will empower us to grow further and faster in the country, subsequently enabling Ghanaian companies to save money and thrive - thanks to REDAVIA solar power.”

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