EG Capital is delighted to announce the SDG Impact Finance Initiative is joining the EG-Economic Empowerment Fund (EG-EEF) as Limited Partners (L.P.) with a first loss capital commitment to help us mobilise private sector capital in the Health, Education, Nutrition and Climate Sectors in Eastern and Southern Africa.
Sandrine Henton, Managing Director of EG Capital says “We're excited to build community resilience via our private debt strategy investing for returns and impact in climate adaptation and gender equity. We welcome private sector investors, particularly family offices, as well as African local institutional investors to join us ahead of our next closing on 15th December 2024!”
SIFI was launched by Switzerland's State Secretariat for Economics Affairs (SECO), UBS Optimus Foundation, Credit Suisse Foundation, and the Swiss Agency for Development and Cooperation (SDC); the initiative seeks to unlock CHF 1 billion towards the SDGs by 2030.
EG Capital was initially selected earlier this year under Phase 1 amongst 200 other fund managers, and thereafter shortlisted with 48 other managers as part of Phase 2 for the due diligence, and the review of the technical proposal. It is now awarded an investment allocation by SIFI under the second Product Window call for proposals, focused on “Building Resilient Societies and Developing Human Capital”.
EG Capital aims to invest up to USD$100 million, into 12-15 African mid-size companies, delivering tangible returns and impact in the Food, Health, Education and Climate Adaptation sectors.
Existing partners to the EG-EEF fund include the endowments of the Waterloo Foundation managed by Schroders Wealth Management’s Cazenove Capital , the Anesvad Foundation managed by EuroCapital SA, family offices, and the management team at EG Capital, as well as technical support from USAID, Prosper Africa and 2x Global.
British A. Robinson, Prosper Africa Coordinator, added, “We are delighted that EG Capital is growing the asset management landscape to mobilize family offices and local African institutional investors. This signals a great opportunity for U.S. private investors to join EG-EEF to fuel entrepreneurship on the African continent”.
Jessica Espinoza, CEO, 2x Global, added: “We are delighted to support EG Capital via 2x Ignite community of emerging female led fund managers in Africa, and growing the allocation of capital managed by women for returns and impact, particularly in the sectors EG Capital supports at the nexus of Climate Adaptation and Gender”.
Marde van Wyk, Private Markets Principal, 27four Investment Managers, added: "We are thrilled to see EG Capital achieve this milestone with the support of the SDG Impact Finance Initiative. As part of fundHERforward, our commitment has always been to back female fund managers driving transformative capital in Sub-Saharan Africa. EG Capital's focus on climate adaptation, gender equity, and social impact aligns perfectly with our vision for a more inclusive and resilient investment landscape."