NGX lists N20.5bn ESG-focused Infrastructure fund

Nigerian Exchange Limited (NGX) has announced the listing of Africa Infra Plus Fund (AIPF I), a N20.5 billion closed-end infrastructure fund, on the Exchange, on Tuesday.

Co-managed by Africa Plus Partners Plc, and Capitaltrust Investments & Asset Management Limited, AIPF 1 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 on infrastructure business or executing infrastructure projects exclusively commemorated with a Closing Gong Ceremony.

Commenting on the development at a Closing Gong Ceremony to commemorate the listing, the Chief Executive Officer, NGX, Mr Temi Popoola, stated that, “today’s listing marks a significant milestone in our commitment to promoting sustainable investing 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.”

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Speaking to members of the media, Africa Plus Partners Chairman, Anhad Narula said, “This is a sustainable infrastructure fund that specialises in carbon mitigating infrastructure investments.

“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 and move towards cleaner sources of energy and efficiently run, sustainable infrastructure and utility services.”

On his part, the Managing Director, Africa Plus Partners Plc, Mr Adeniran Ajakaiye, stated, “With this listing, we aim to demonstrate the highest levels of good governance and transparency, as we continue to deliver active returns to shareholders, whilst addressing Nigeria’s ‘missing middle’ 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.