Author: Riitho

FirstRand Bank issues Inaugural Nature-Linked Outcomes-Based Bond

Posted on by Riitho

Johannesburg, 1 April 2026 — FirstRand Bank (FRB) has become the first commercial bank globally to issue an outcomes-based bond that directly links investor returns to verified ecological and environmental restoration outcomes.

The bond forms part of a broader transaction structure which raised funding from outcomes-based funders (OBFs) for a nature conservation project to remove invasive alien plant species from priority water catchment areas in the Western Cape to increase water flow into storage dams through water reclamation.

RMB acted as arranger, structurer and distributor for the R2.5 billion JSE-listed Cape water performance-based bond issuance. The bond was anchored by the International Finance Corporation (IFC) and FSD Africa Investments (FSDAi), a specialist financial sector investor established by FSD Africa and the UK’s Foreign Commonwealth and Development OƯice (FCDO). Their participation was instrumental in validating the transaction structure and catalysing broader institutional investor participation. The IFC subscribed for approximately R1.6 billion whilst FSDAi committed R234 million.

Aluwani Capital Partners led local institutional participation with a R350 million investment in the bond, with further support from Ashburton Investments, the Eskom Pension and Provident Fund, Optimum Investment Group and Sanlam Life.

The bond establishes a new asset class for nature-linked adaptation finance, whereby investor returns are contingent on the delivery of pre-defined and verified nature positive outcomes that are embedded directly into a listed senior unsecured bond structure. The transaction shares the risk of funding conservation activities between OBFs and bond investors who receive enhanced returns if pre-defined conservation outcomes are met. This enables a pay-for-success model for OBFs, based on measurable and independently verified outcomes. It presents a scalable, rigorous and transparent template for mobilising private capital and can be replicated for wider environmental, social or development projects in South Africa and elsewhere.

The group’s corporate and investment bank, RMB, was instrumental in the structuring and execution of this transaction, and the FirstRand Foundation also played a key role as an anchor outcomes-based funder and coordinator for other philanthropic partners.

 

Kalina B. Miller, IFC Financial Institutions Group Regional Manager for Southern Africa, said:

IFC is proud to be the lead investor in this ground-breaking and innovative transaction, which leverages the capital markets to enable and crowd in private sector capital toward conservation activities. The instrument links investor returns to measurable environmental outcomes in South Africa’s strategic water catchment areas and sets a replicable blueprint for nature finance across Africa and globally. The pay-for-success financial structure would help address water security in South Africa – a key development challenge in the country – and create jobs, including for women and youth.

Anne-Marie Chidzero, Chief Investment Officer at FSDAi, said:

“Nature has long been treated as a cost; this bond demonstrates it can be structured as an asset. What makes the Cape water performance-based bond significant is not just what it finances, but who it brings together —and FSDAi is proud to stand alongside partners united by the conviction that Africa’s markets are ready to price nature differently. That collective commitment turns reclaimed water into a verifiable, investable outcome and opens the door to an entirely new asset class in Africa’s capital markets.

Antony Phillipson, British High Commissioner to South Africa, said:

Nature is critical infrastructure, and linking investment returns to verified environmental improvements shows how finance can drive real resilience. This bond demonstrates what is possible when partners unite behind a shared commitment to protect ecosystems and strengthen water security. It also reflects the deepening collaboration between the UK and South Africa to scale sustainable finance and unlock new opportunities for nature-positive growth.

Monica Jaglal, Co-Head of Credit at Aluwani Capital Partners, said:

Water is an increasingly scarce and mispriced resource. Our investment in the Cape water performance-based bond reflects a deliberate commitment to investing in water—not only in infrastructure such as pipes and dams, but in the ecosystems that sustain supply. By unlocking additional water yield at a fraction of the cost of traditional infrastructure, we are delivering measurable environmental and social impact, in line with our responsibility as stewards of capital.

 

About FirstRand Bank Limited FirstRand Bank Limited

(FRB or the bank) is a wholly owned subsidiary of FirstRand Limited (FirstRand or the group), which is listed on the Johannesburg Stock Exchange (JSE) and Namibian Stock Exchange (NSX). The bank provides a comprehensive range of retail, commercial, corporate and investment banking services in South Africa and oƯers niche products in certain international markets. The bank has three major divisions which are separately branded: First National Bank (FNB), WesBank and Rand Merchant Bank (RMB). For more information, visit www.firstrand.co.za.

Contact: Sam Moss, Head Group Corporate Communications (sam.moss@firstrand.co.za)

 

About IFC

IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2025, IFC committed a record $71.7 billion to private companies and financial institutions in developing countries, leveraging private sector solutions and mobilizing private capital to create a world free of poverty on a livable planet. For more information, visit www.ifc.org. Stay Connected with IFC on social media.

Contact: Nkatya Kabwe (nkabwe@ifc.org)

 

About FSD Africa Investments

FSD Africa Investments (FSDAi) is a specialist financial sector investor established by FSD Africa and the UK’s Foreign Commonwealth and Development Office (FCDO) to strengthen and deepen Africa’s financial markets. We bridge critical funding gaps by investing patient, risk-bearing capital in novel financial instruments, facilities, and intermediaries. Our strategic investments take on early risk, test new models and catalyse capital from others to gradually transition the financial sector to finance Africa’s economic resilience and growth. To date, FSDAi, backed by FCDO investment, has committed £150 million to 27 investments, and successfully exited two investments in the region, one at 2x money. For more information, visit https://fsdafrica.org/fsdai-investments/.

Contact: Joyce Waihiga, Manager, Communications (joyce@fsdafrica.org)

Persistent Launches US$70 million Persistent Africa Climate Venture Builder Fund and $5 million Venture Building Facility

Posted on by Riitho

First published on persistnent.energy website, this press release is republished here to share insights with our broader community.

Persistent has launched the US$70 million Persistent Africa Climate Venture Fund (“Persistent ACV Fund”) with a first close of US$52 million and an additional initial $5 million Venture Building Facility.

The Persistent ACV Fund is an early-stage climate investment vehicle domiciled in Mauritius, focused on backing Africa’s most innovative and high-impact climate ventures. Beyond capital, the Fund leverages Persistent’s tailored Venture Building platform to accelerate the growth, operational maturation, and scale of its portfolio companies. The Fund aims to catalyze Africa’s Energy, Agriculture, and Resource Transitions. While its core strategy targets investments from pre-seed through Series A, the Fund retains the flexibility to provide later-stage follow-on capital to high-performing portfolio companies.

Structured with a blended finance model, the Fund offers private investors first-loss and priority return protection. Its investment approach is further strengthened by integrated, bespoke Venture Building support, underpinned by a $5 million contribution-based Venture Building Facility (VBF).

The Partners of Persistent stated: “Achieving the first close of the Persistent ACV Fund is a strong show of confidence in Persistent and the Fund’s strategy. The first close demonstrates that early-stage climate innovation in Africa is investable at scale and that it presents a compelling opportunity for investors. We are excited to move into the investment phase as we continue to back entrepreneurs building businesses across Africa’s Energy, Agriculture and Resource Transitions. We are thankful for the trust that all our LPs, the contributors to our Venture Building Facility, and especially the entrepreneurs we will invest in, are putting in us.  We believe that the growing alignment between catalytic and commercial capital is essential to closing Africa’s climate financing gap, and we look forward to translating that alignment into disciplined execution, impact and long-term value creation.”

 

Driving impact through early-stage climate investment

The launch of the Fund comes against the backdrop of Africa facing a disproportionate share of climate risk while receiving only a small fraction of global climate financing. Early-stage climate businesses, in particular, struggle to access capital and operational support needed to scale and have substantial impact. The Persistent ACV Fund is designed to address this gap by combining equity investment with custom Venture Building services to enable climate ventures to move from early traction to scalable, impactful businesses. The Fund intends to achieve substantial climate, socio-economic, and gender impact in Africa over the lifetime of the Fund, targeting:

  • Over 17 million tons of CO2/GHG mitigated
  • Over 7 million overall beneficiaries (of which half will be female)
  • Over 60,000 direct jobs created (of which half will be female)
  • Over 400,000 people are economically impacted
  • Over 420,000 households with new or improved electricity connections
  • Over $450 million additional investment catalysed

The Persistent ACV Fund is managed by its General Partner, Persistent ACV GP Ltd., and advised by Persistent Energy Capital LLC, a U.S. venture capital firm with offices across Africa and Europe. The Fund was conceived by Persistent in collaboration with FSD Africa Investments (FSDAi), a specialist financial sector investor established by FSD Africa and the UK’s FCDO, and an Anchor Investor in the Fund. FSDAi invested $3 million in Persistent in 2022 and made an early pledge of a $10million anchor commitment to the Fund.  FSDAi’s initial investment was used to make investments in climate businesses that have been warehoused by Persistent for transfer to the Fund now that it is closed.

 

“Closing Africa’s climate financing gap requires more than capital. It requires the right fund managers, supported at the right moment, through structures that give other investors the confidence to follow,” said Anne-Marie Chidzero, Chief Investment Officer of FSDAi. “Our anchor commitment to the Persistent Africa Climate Venture Builder Fund is built on that logic: identifying early-stage climate fund managers with genuine potential, providing the catalytic capital they need to establish a credible track record, and ensuring our investment is structured in a way that mobilizes far greater resources into Africa’s energy and climate transition.”Other Anchor Investors of the Fund are the Nordic Development Fund (NDF) and the African Development Bank’s Sustainable Energy Fund for Africa (AfDB SEFA).Additional Investors include: the Japan International Cooperation Agency (JICA), the Soros Economic Development Fund (SEDF), Impact Fund Denmark (IFDK), the Schmidt Family Foundation and the Cottier Donzé Foundation.Satu Santala, Managing Director of NDF stated, “As a catalytic investor, NDF is pleased to support the Persistent ACV Fund, providing concessional capital to early-stage climate initiatives. NDF also supports the Persistent ACV Venture Building Facility in its work to expand the African start-up landscape and establish promising climate ventures with strong sustainability and impact potential. Persistent has a strong track record in supporting local innovation and ownership through their Venture Building model, which they are now scaling beyond energy into other climate-relevant sectors, bringing clear value to the market. The Persistent ACV Fund’s specific focus on gender equality and local innovation aligns closely with NDF’s mandate, while its ambition to drive decarbonisation, strengthen community resilience, and improve access to essential products and services for underserved and marginalised communities across Africa reflects the impact we seek to achieve.”João Duarte Cunha, Manager of AfDB’s Renewable Energy Funds Division, stated, “Catalytic capital is essential to unlock Africa’s climate innovation potential. We are pleased to partner with Persistent to strengthen a growing ecosystem of early-stage African climate innovators—entrepreneurs who are expanding energy access and driving the clean energy transition.”Shohei Hara, Senior Vice President of JICA stated, “The Persistent ACV Fund is the very first investment under the JICA Blended Finance Window, which was launched during the Ninth Tokyo International Conference on African Development (TICAD 9) in August 2025. We hope that this investment will showcase the mobilization of private capital through catalytic investment. By investing into the Persistent ACV Fund and underlying climate entrepreneurs, we would like to show our commitment to support African development consistent with pathways towards a  low-carbon future as well our commitment to gender-lens investments as a 2x challenge member in accordance with our Sustainability Policy.” Georgia Levenson Keohane, CEO of the Soros Economic Development Fund, said “SEDF is proud to invest in Persistent’s Africa Climate Venture Builder Fund, which will help to scale early-stage climate solutions, unlock private capital, and build a resilient, climate-positive future for communities across the continent.”“At Impact Fund Denmark, we work to mobilise capital where it can make a meaningful difference. With this investment, we are supporting entrepreneurs who are building solutions with real potential for both climate impact and long-term economic development in Africa.” Says CEO Lars Bo Bertram, Impact Fund Denmark.

 

Custom Venture Building for Faster and More Sustainable Growth

The $5 million contribution based Venture Building Facility (VBF) is funded by NDF and FMO, the Dutch entrepreneurial development bank. Through the VBF, Fund pipeline and portfolio companies can qualify to receive tailored company-building support in one or more areas, including finance, fundraising, strategy, ESG, technology, legal, and marketing. This support can be financed, in whole or in part, through the VBF.  VBF-supported Venture Building services will accelerate the building of successful businesses in which the Fund invests, deepen impact outcomes as well as reduce early-stage execution risk for the Fund.

Andrew Shaw, Manager, Market Creation – Financial Inclusion at FMO, the Dutch entrepreneurial development bank added, “At FMO, a core pillar of our market creation strategy is supporting pioneering fund managers who are expanding access to finance in underserved markets across Sub‑Saharan Africa. These managers are essential to building robust investment pipelines and strengthening the broader entrepreneurial ecosystem. Persistent exemplifies this approach. By pairing early‑stage capital with hands‑on Venture Building, Persistent equips CleanTech companies across Africa to grow at their most critical stages. Through our Market Creation program, we are proud to back initiatives like this that broaden financial inclusion, accelerate climate‑positive innovation, and unlock sustainable economic opportunities across the continent.”

For More Information, Contact: damilola@persistent.energy

FSDAi Invests in Ci-Gaba Fund, Supporting First Close of the USD 75 Million Fund to Unlock Ghanaian Pension Capital for Private Markets

Posted on by Riitho

FSDAi Invests in Ci-Gaba Fund, Supporting First Close of the USD 75 Million Fund to Unlock Ghanaian Pension Capital for Private Markets

Nairobi, 22 January 2026: FSD Africa Investments (FSDAi), a UK-backed specialist financial sector investor, has announced a USD 7.5 million investment in the Ci-Gaba (Progress) Fund, a Ghanaian-domiciled fund of funds designed to mobilise pension capital into private equity and private debt investments across Ghana and West Africa.

The investment supports Ci-Gaba’s first close of its USD 75 million fund and marks a major milestone for Ghana’s first private fund of funds focused on domestic capital mobilisation at scale. The first close attracted strong participation from Ghanaian pension funds, with commitments exceeding its USD 30 million target, demonstrating growing confidence in locally structured private market investment vehicles.

“We’ve reached this first close in record time, with more than two-thirds anchored by local pension funds,” said AnneMarie Chidzero, Chief Investment Officer at FSDAi– “Drawing on FSD Africa’s market-building work in Ghana, we have co-created and underwritten an investment vehicle that aligns with regulatory requirements and governance standards, enabling pension funds to invest confidently in alternative assets.”

Ci-Gaba’s fund will strengthen Ghana’s financial ecosystem by investing in both experienced and emerging fund managers operating across high-growth sectors including financial services, healthcare, agriculture, clean energy, education and technology. By channelling domestic institutional capital into small and growing businesses, Ci-Gaba is expected to support up to 25,000 jobs and contribute to enterprise growth, while helping diversify pension portfolios beyond traditional government securities.

“This marks an important step forward for the PE/VC ecosystem in Ghana and Africa at large. FSDAi’s investment is a strong vote of confidence in Ci-Gaba’s role in unlocking local capital, mobilising pension funds, and building a stronger, more inclusive market,” said Hamdiya Ismaila, CEO of Savannah Impact Advisory. “The investment process has strengthened our structure, aligned us with key stakeholder interests, especially pension funds and positioned us for scale. This is true catalytic capital, and we are excited about the opportunities and impact this partnership will unlock across the region.”

His Excellency, Dr Christian Rogg, British High Commissioner to Ghana said, “The UK is proud of our support to Ci-Gaba, which embodies a commitment to inclusive economic development that will drive private investment across West Africa. This is a clear example of putting the UK’s new Approach to Africa into action – one that moves the UK from donor to investor, built on respect, shared interests and equal partnership.”


For more information/queries on FSD Africa Investments and Ci-Gaba please contact:
FSD Africa Investments
Joyce Waihiga, Manager, Communications, FSDAi
joyce@fsdafrica.org

Ci Gaba
Dinah Hammond-Afful, Investment Manager, Savannah Impact Advisory
dhammondafful@siaghana.com

 

About FSDA Investments
FSD Africa Investments (FSDAi) is a specialist financial sector investor established by FSD Africa and the UK’s Foreign Commonwealth and Development Office (FCDO) to strengthen and deepen Africa’s financial markets. We bridge critical funding gaps by investing patient, risk-bearing capital in novel financial instruments, facilities, and intermediaries. Our strategic investments take on early risk, test new models and catalyse capital from others to gradually transition the financial sector to finance Africa’s economic resilience and growth. To date, FSDAi, backed by FCDO investment, has committed £150 million to 27 investments, and successfully exited two investments in the region, one at 2x money.

For more information, visit https://fsdafrica.org/fsdai-investments/

 

About Ci Gaba
Ci-Gaba (Progress) Fund of Funds, is a Ghana-based blended finance vehicle designed to mobilise domestic institutional capital—particularly pension funds—into SME and early- stage business finance. Ci-Gaba addresses key barriers that have historically limited local investor participation, including risk–return mismatches, currency risk, and governance constraints. The fund invests in a portfolio of experienced and emerging fund managers across priority sectors, while pairing capital with technical assistance to strengthen fund managers, SMEs, and pension trustees. By using catalytic capital to crowd in local investors, Ci-Gaba aims to demonstrate the viability of early-stage and SME finance as an investable asset class and to serve as a replicable model for domestic capital mobilisation in the region. The Fund is managed by Savannah Impact Advisory, a pan-African investment management firm specializing in fund structuring, VC/PE fund management, and impact investing. Ci-Gaba is sponsored by Impact Investing Ghana, the National Advisory Board (NAB) for the Global Steering Group for Impact Investment (GSG).

 

FSD Africa Launches $30 Million Inclusive Insurtech Fund to Close Africa’s Protection Gap

Posted on by Riitho

FSD Africa Announces $30million Venture Fund at BimaLab Africa Insurtech Summit 2025 To Accelerate Insurance Innovation Across the Continent

  • Africa faces major protection gap with around 80% of economic losses from natural disasters going uninsured in 2022, up from 58% in 2021.
  • The BimaLab Accelerator Programme has supported 135 startups across 28 African countries to date
  • New Regulatory Sandbox Eligibility Assessment Toolkit also launched at the Summit

Nairobi, Kenya, 26th November 2025: FSD Africa today announced a new $25 – 30 million Inclusive Insurtech Investment Fund (3iF), at the BimaLab Africa Insurtech Summit held on 26–27 November in Nairobi to open the way for more private investment in the insurance technology (insurtech) sector, accelerate insurance innovation and close the continent’s protection gap.

3iF is a pan-African venture capital fund targeting early-stage insurtech startups that expand insurance access, affordability, and awareness – particularly in climate resilience, health, and financial inclusion among underserved populations. Building on the BimaLab Accelerator Programme, which has supported over 135 startups in 28 countries to date, 3iF aims to bridge the financing gap that prevents promising tech-enabled solutions from scaling and addressing Africa’s substantial insurance protection gap.

Expected to launch in January 2026, the Fund’s blended structure combines junior equity from catalytic investors, anchored by FSD Africa Investments (FSDAi), FSD Africa’s investment arm, with senior equity from commercial and strategic investors led by Zep Re. 3iF will provide investment growth capital to successful graduates of BimaLab as well as other promising ventures, complementing the BimaLab ecosystem.

Speaking ahead of the BimaLab Africa Insurtech Summit, Kelvin Massingham, Director, Adaptation and Resilience, FSD Africa, commented: ““The launch of the 3i Fund opens an exciting new chapter for insurance innovation in Africa. By investing in the next generation of insurtech pioneers, we are unlocking opportunities to expand access, affordability, and resilience for millions across the continent. Our goal is to empower visionary startups to transform how insurance works for everyone—driving inclusive growth, climate resilience, and financial security for Africa’s future.”.

A new Regulatory Sandbox Eligibility Assessment Toolkit was also launched at the BimaLab Insurtech Accelerator Summit, a practical resource designed to help African insurance regulators to quantify the level of impact new insurtech innovations will have on their economies, supporting further investment, testing and development of impactful innovations within regulatory sandboxes.

The toolkit is designed to streamline how regulators evaluate emerging insurtech models, lower barriers for startups, and ultimately expand access to affordable risk protection, particularly for informal workers, rural communities, smallholder farmers, and low-income households.

Commenting on the new toolkit, Godfrey Kiptum, MBS, CEO and Commissioner, Insurance Regulatory Authority (IRA), Kenya, said:

“By strengthening the regulatory environment, we are laying the foundation for a more resilient and inclusive insurance ecosystem for Africa’s next decade. Building regulatory readiness for innovation is key, and BimaLab’s new toolkit will be an invaluable resource not only for us here in Kenya, but for African regulators across the continent.”

 

Driving Inclusive Insurance Across Africa

Africa faces a major protection gap, with insurance penetration below 3% in most countries. This leaves individuals, small businesses, and vulnerable communities exposed to risks they cannot recover from quickly. Around 80% of economic losses from natural disasters went uninsured in 2022, up from 58% in 2021.

Launched in Kenya in July 2020 by the IRA and FSD Africa, the BimaLab Accelerator Programme has become Africa’s leading insurance innovation platform. It aims to harness technology innovations that increase insurance penetration among low-income and underserved communities and is a key component of FSD Africa’s mission to build resilient, inclusive financial markets across the continent of Africa. BimaLab was created to foster innovation and accelerate the development of insurtech product development and distribution, helping startups to scale and develop market-ready solutions, and supporting regulatory engagement and inclusivity throughout the insurance sector.

Elias Omondi, Principal of Innovation for Resilience adds;

“Africa’s protection gap is not just a market failure, it’s a capacity and capital gap. BimaLab Africa Insurtech Accelerator combines focused technical support with catalytic funding, we enable insurtechs to de-risk innovation, scale inclusive products and reach the millions who remain unprotected.”

The 2-day BimaLab Africa Insurtech Summit 2025 held in Nairobi, brought together insurers, regulators, investors, innovators, tech partners, and development leaders driving the transformation of insurance across Africa, under the theme “Insuring Africa’s Future: Innovation, Inclusion and Investment”.

Ted Pantone, CEO and Co-founder of Turaco, a Kenyan micro-insurance company showcasing its innovative insurance products at the Summit, commented: “Our vision when we launched in 2019 was to insure 1 billion people across the continent, and already, with BimaLab’s ongoing support, we have successfully expanded to Uganda, Nigeria and Ghana, and are now insuring over 1 million customers and processing over 20,000 claims. We are proof that this programme really works.”

 

Notes to Editors

For more information, please contact:

Kaara Wainana, Senior Manager Advocacy, Campaigns & Partnerships, FSD Africa

Kaara@fsdafrica.org

 

About the BimaLab Insurtech Accelerator

BimaLab, backed by FSD Africa and the Swiss Re Foundation, is an innovation accelerator focused on strengthening Africa’s insurtech ecosystem. It supports early- to growth-stage startups through mentorship, technical assistance, partnerships, investor readiness, and regulatory engagement. Its core mission is to increase insurance penetration among underserved communities by fostering the development and scaling of inclusive, climate-resilient insurance products while integrating innovation into regulatory frameworks.

Since its launch in 2020, BimaLab has supported over 135 startups in 28 African countries, facilitating the creation of 150+ insurance solutions that now reach over 6 million African customers. The program has collaborated with 15 insurance regulatory authorities supporting the development of 7 insurance regulatory sandboxes.

BimaLab’s annual innovation summits and its alumni pipeline have further helped drive policy reform and attract global investment, positioning it as a leading force in insurance innovation across the continent.

Four African Projects Selected for CAPE’s First Cohort

Posted on by Riitho

FSD Africa, through the Carbon Accelerator Programme for the Environment (CAPE), has announced the first cohort of projects to receive support in advancing community-led ecosystem restoration through nature-based carbon initiatives.

Chosen from over 100 applicants across 28 African nations, the four projects span Kenya, Nigeria, Tanzania and Zambia, and together cover more than one million hectares of land. They include forest regeneration in Nigeria’s Gashaka Gumti National Park, community-led restoration in Tanzania’s Rubeho Mountains, rangeland rehabilitation in Zambia’s Barotseland, and mangrove restoration in southeastern Kenya’s Papariko Mangroves.

Launched in November 2024 by FSD Africa, in partnership with the African Natural Capital Alliance (ANCA) and Finance Earth, CAPE was designed to address the shortage of early-stage funding for nature-based carbon projects in Africa. By offering recoverable grants and tailored transaction advisory support, CAPE helps projects move from concept to investment readiness.

With Africa’s GDP heavily dependent on natural capital, these projects demonstrate how nature can serve as both a climate solution and an economic asset.

As Reshma Shah, Carbon Markets Lead at FSD Africa, noted:

These projects go beyond generating carbon credits—they are blueprints for redefining how the world invests in and values nature.

You can access the full press release here.

FSD Africa and Children’s Investment Fund Foundation (CIFF) launch Sovereign Debt Advisory & DMO Institutional Support Programme

Posted on by Riitho

FSD Africa Launches New Programme to Integrate Sustainable Finance into Africa’s Debt Strategies

FSD Africa, in partnership with the UN Economic Commission for Africa (UNECA) and supported by the Children’s Investment Fund Foundation (CIFF), has launched a new technical assistance and institutional support programme for Debt Management Offices (DMOs) across Africa.

The initiative will help governments embed sustainability into their sovereign debt strategies, unlocking fiscal space for development and climate action, while mobilising both domestic and international investment.

Announced shortly after the Africa Climate Summit in Ethiopia, the programme reflects FSD Africa’s commitment to advancing Africa-led solutions, resilient local-currency finance, and sustainable growth. It also builds on FSD Africa’s 2025–2030 strategy, which aims to catalyse £10 billion of private capital—most of it in local currency—for climate-positive economic transformation.

The facility will provide DMOs and Ministries of Finance with funded, practical support in areas such as sustainability-integrated debt strategy, preparation of new financing instruments, investor engagement, institutional strengthening, and market development.

Mark Napier, CEO of FSD Africa, commented:

Sustainable finance is not a label change—it’s a fiscal strategy. By integrating sustainability into sovereign debt management, countries can lower refinancing risk, extend maturities, and unlock capital for productive, climate-positive national priorities.

You can access the full press release here.

TECA Heat Action Wave Launches in Nigeria

Posted on by Riitho

The new TECA Heat Action Wave (THAW) will back 12 early-stage ventures in Nigeria with capital and venture-building support to protect heat-vulnerable communities.

Nairobi, Kenya, August 2025 — TECA Heat Action Wave (THAW), a new initiative to address Nigeria’s escalating extreme heat crisis, was launched today by BFA Global, FSD Africa, ClimateWorks Foundation, and the UK’s Foreign, Commonwealth & Development Office (FCDO) Nigeria. Together, the coalition has committed $1.1 million to support 12 early-stage ventures developing innovative solutions to protect climate-vulnerable communities from the growing impacts of extreme and chronic heat.

Extreme heat events are now at least ten times more likely in West Africa due to human-caused global warming. In Nigeria, millions of jobs and livelihoods are already at risk, with more than 60% of the population regularly exposed to dangerous heatwaves. Urban settlements like Lagos, Kano, and Abuja now experience heat indices above 50°C during peak months.

This is what Juliet Munro, Early-Stage Finance Director at FSD Africa commented:

“Extreme heat represents perhaps the most overlooked consequence of climate change affecting Africa today,….It’s not only a public health emergency, but a threat to livelihoods, productivity, and long-term economic resilience. Through this initiative, we’re making a strategic investment in African-led innovation, supporting scalable, context-specific solutions that deliver real impact where it’s needed most.”

THAW will support 12 early-stage ventures developing market-driven early warning tools, innovative financial instruments such as parametric heat insurance, emergency-centric finance tech, and ecosystem enablers and builders — tools and services that help individuals and small businesses operate more safely and efficiently in rising heat, preferably integrating early warning systems or fintech solutions.

You can access the full press release here.