Grit is a leading pan-African impact real estate company focused on  investing in, developing and actively managing a diversified portfolio of assets (income producing assets of US$832.8 million as at 31 December 2022) in selected SSA countries (excluding South Africa). Grit holds its primary listing on the Main Market of the London Stock Exchange (GR1T) and a secondary listing on the Stock Exchange of Mauritius (DEL.N0000). Grit is well known to IFC having secured a US$25 million IFC A Loan (Project #45002) that financed the Orbit Facility transaction.

Bora Africa will be seeded with assets currently worth ~US$92 million, then the vehicle will add pipeline assets worth ~US$192 million, of which IFC will be financing US$30 million via subordinated notes issued by Bora Africa.

While Bora Africa is domiciled in Mauritius, the assets in the vehicle will be located across four countries, namely Mauritius, Mozambique, Kenya, Nigeria and any other countries in Africa (excluding South Africa) agreed by Bora’s Board of Directors.

 This is a Category B project according to IFC's Policy on Environment and Social Sustainability (2012). Key E&S issue and risks associated with the project include: (a) adequate E&S screening and due diligence for proposed assets to be acquired in line with IFC PSs; (b) development and implementation of E&S procedures for construction and expansion phase of existing and proposed assets; (c) assurance of fair, safe and healthy working conditions for all employees in line with the IFC PS2 and legal requirements; (d) management of air emissions, effluent and waste in line with WBG EHS Guidelines; (e) life and fire safety design for all assets; (f) security and traffic management; and (g) community grievance mechanism.