PROJECT

Projects

Summary of Investment Information

Project Number

50013

Company Name

Zafiri Investments Limited

Date SPI Disclosed

Jun 12, 2025

Country

Africa Region

Region

Africa

Projected Board Date

Oct 9, 2025

Environmental Category

FI-2 - Limited

Status

Pending Disbursement

Last Updated Date

May 5, 2026

Department

Regional Industry - INF Africa

Industry

Infrastructure

Previous Events

Approved : Oct 9, 2025
Signed : Apr 1, 2026

Sector

Renewable Funds - Renewable Energy Generation

Additional Project Attributes

Blended Finance

Project Description

 The proposed project consists of an IFC investment of up to US$120 million in the Zafiri Investment Vehicle (“Zafiri” or the “Vehicle”), an entity to be established in Mauritius, and will serve as a permanent capital vehicle to invest patient equity in companies operating distributed renewable energy (DRE) solutions in Sub-Saharan Africa (SSA), with an objective of providing electricity and clean cooking access to at least 30 million people over the life of the Vehicle. The Vehicle will be managed by an Investment Manager (IM) who is yet to be appointed. The project is expected to be supported by the IFC’s Concessional Capital Window (CCW-IDA21) and Frontier Opportunities Fund (FOF) as described in the Blended Finance Section.

Note: The original SII disclosure stated that Zafiri may invest in Category A sub-projects, albeit as an exception. Thus, the project was categorized as FI-1: Significant. However, it has subsequently been determined that Zafiri will not invest in Category A sub-projects. Thus, the project categorization has been amended to reflect this change.

Associated Advisory Engagement

N/A

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation