Africa Plus Partners Lists Carbon Mitigation Fund On NGX

Nigeria’s infrastructure investment managers, Africa Plus Partners Nigeria Limited, has announced the introduction of the first carbon + (ESG- Focussed) naira denominated infrastructure fund, Africa Infra Fund 1, on the Nigerian exchange (NGX).

According to Africa Plus Partners Nigeria Limited, its memorandum listing of 17,439 units on the floors of the NGX follows all necessary approvals by the NGX on January 18, 2023 to list its premier Fund – Africa Infra Plus Fund I (AIPF I), on the NGX.

Speaking with the media after the customary closing gong at the NGX on Tuesday, 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, move towards cleaner energy sources, and efficiently run sustainable infrastructure and utility services.”

Also, managing director of Africa Plus Partners, Adeniran Ajakaiye, said, “I am delighted to inform all our partners that we have taken yet another stride towards building one of the most respected infrastructure development funds on the continent.”

He also said that the fund has now been allocated a ticker, AIPF1, listed at ₦‎1,241,747.95 per unit, and with a market capitalisation of ₦‎21,654,842,500.05.

“With this listing, we aim to demonstrate the highest levels of credibility, corporate governance and transparency, as we continue to deliver active returns to noteholders, whilst addressing Nigeria’s ‘missing middle’ infrastructure gap,” said Ajakaiye.

Chief executive officer, NGX, Mr. Temi Popoola, stated that the listing of the fund marks a significant milestone in the Exchange’s overall commitment to promoting sustainable investing, and reducing the drivers and impact of climate change.