Grace Ashiru
The British International Investment (BII) has announced its commitment of USD 16 million to the Africa Go Green Fund (AGGF), a fund managed by Cygnum Capital Asset Management. This latest pledge brings the fund’s total raised to over USD 166 million at its interim close, further advancing its mission to finance climate-friendly initiatives across Africa.
The Africa Go Green Fund is dedicated to supporting projects that promote sustainability, including the purchase of high-efficiency appliances, the retrofitting of existing buildings, the construction of new green buildings, the expansion of electric mobility infrastructure, and the deployment of battery storage solutions for residential, commercial, and industrial users. Since it became operational in 2021, AGGF has funded several African clean energy platforms, such as Solarise and Burn Manufacturing, contributing to the expansion of clean energy and cooking solutions across the continent.
Cygnum Capital Asset Management oversees a portfolio of Africa-focused credit funds, including the Africa Go Green Fund (AGGF), with total assets under management (AUM) amounting to approximately USD 600 million. Since its inception, Cygnum Capital Asset Management has completed over 100 investments across the African continent, spanning diverse sectors such as renewable energy and energy access. This commitment highlights BII’s dedication to fostering sustainable economic growth by investing in renewable energy and environmentally friendly technologies throughout Africa.
