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This week in impact investment in Africa - 13 March

This is a curated roundup of all the notable developments in the African impact investment space this week:

Persistent snags $52 million to invest in Africa’s climate entrepreneurs

Mauritius-based climate tech investor Persistent secured $52 million for its Africa-focused climate venture builder fund, with backing from Japan International Cooperation Agency, the Soros Economic Development Fund, Impact Fund Denmark, the Schmidt Family Foundation, the Cottier Donzé Foundation and an undisclosed family office.

FSD Africa Investments and Allied Climate Partners Commit $50m to Anchor the African Transition Acceleration Fund (ATAF)

FSD Africa Investments (FSDAi) and Allied Climate Partners (ACP) announced the joint anchor commitment of $50 million in catalytic capital on Thursday as the anchor investment in the African Transition Acceleration Fund (ATAF), a catalytic investment vehicle managed by African Infrastructure Investment Managers.

iSAT Africa secures $15m financing from Mirova for off-grid mobile towers

Mirova has announced a $15 million senior secured facility for iSAT Africa Mauritius, a rural connectivity platform, to support the deployment of fully solar-powered mobile towers in Liberia and Zambia.

Proparco commits $15m to AIIM’s African Transition Acceleration Fund

French development finance institution Proparco has committed $15 million to the African Transition Acceleration Fund (ATAF), a new pan-African fund focused on financing climate infrastructure at an early stage of development. The fund is managed by African Infrastructure Investment Managers (AIIM), a pan-African infrastructure investment manager, and has reached a first close as part of a targeted $200 million fundraising.

Sahel Capital extends $1m facility to Ugandan coffee exporter

Zigoti, a Ugandan coffee processor and exporter specialising in Robusta and Arabica coffee, has secured a $1 million loan facility from Sahel Capital. The funding is being provided through Sahel Capital’s Social Enterprise Fund for Agriculture in Africa (SEFAA).

Soros Economic Development Fund commits $7 million to $70 million climate venture fund

The Soros Economic Development Fund, the impact investment arm of the Open Society Foundations established by George Soros, has committed $7 million to the Africa Climate Venture Builder Fund, a vehicle targeting African climate-tech startups. The fund, which aims to raise $70 million, will support ventures developing solutions in clean energy, sustainable agriculture and climate resilience.