NEW YORK, U.S.A. – 24.09.2024 – Prosper Africa, a U.S. Presidential national security initiative aimed at strengthening the strategic and economic partnership between the U.S. and Africa, has committed USD 5 million to ImpactA Global, a women-led Emerging Markets infrastructure debt investor. Prosper Africa and ImpactA Global are aligned in their ambitions to address the critical infrastructure deficit and unlock private finance at scale for climate impact mitigation and adaptation in the world’s most vulnerable economies, including Africa.
The funding, which comes from the U.S. government, through Prosper Africa, will help drive ImpactA Global’s strategy to finance sustainable infrastructure projects in underserved regions, with a focus on addressing climate challenges and reducing social inequalities. The announcement follows ImpactA Global’s existing partnership with Legal & General, a leading financial services group and global private and public markets asset manager.
Since inception in 2022, the ImpactA Global team has grown from four to 13 people, bringing together a depth of capabilities across infrastructure, project finance, and asset management to support business growth and investment pipeline for the development of resilient infrastructure in emerging markets, focusing on renewable energy, clean mobility, health, water, and sanitation.
British A. Robinson, Coordinator for Prosper Africa said: “We consider ImpactA Global’s innovative strategy critical to Prosper Africa’s mission of scaling up private capital flows for resilient infrastructure in Africa and achieving our global climate and sustainability objectives. We believe the ImpactA Global team is well positioned to continue to mobilize significant private sector investment in Emerging Markets that aligns with our efforts towards catalytic investment in Africa.”
Isabella da Costa Mendes, Co-Founder and Co-CEO, ImpactA Global commented: “We are thrilled with the support of Prosper Africa for such an important strategy. The track record of the U.S. government through Prosper Africa helps bridge the gap between US-based investors and Emerging Markets companies and projects, particularly in Africa, is unparalleled. We look forward to strengthening this collaboration and helping deliver critical infrastructure to much needed jurisdictions.”
Victoria Miles, Co-Founder and Co-CEO, ImpactA Global added: “Addressing climate challenges and reducing inequalities in Emerging Markets is our paramount objective. These challenges will only be met with the mobilisation of significant pools of private institutional capital. Working with partners such as Prosper Africa will enable ImpactA Global to accelerate this mobilisation and implement its strategy. We look forward to a successful collaboration.”
Hannah Gore-Randall, Managing Director of Alternative Finance, Legal & General said: “There is an urgent need to finance Emerging Markets’ energy transition, and we believe that to be serious about climate transition, investors must be allocating capital to sustainable infrastructure in these regions. We are delighted that the provision of our catalytic capital has brought in the likes of Prosper Africa, a highly reputable development finance institution, as partners for ImpactA Global. Innovative financing structures are reducing risk and driving the asset class’s reputation as a compelling investment opportunity that offers the potential for positive financial, social, and environmental returns.”
About ImpactA Global
ImpactA Global is a women-led investment firm for the global Emerging Markets, with a focus on debt financing for sustainable infrastructure. Founded by Victoria Miles and Isabella da Costa Mendes, ImpactA Global seeks to solve funding gaps in transformational infrastructure projects.
The firm addresses four key sectors and associated UN Sustainable Development Goals: clean energy and renewables; sustainable mobility; healthcare and hospitals; water and sanitation.
ImpactA Global Limited is an appointed representative of Varramore Partners Limited which is authorised and regulated by the Financial Conduct Authority in the United Kingdom. It is not regulated by any regulatory authority in any other jurisdiction.
- For further details please visit: https://www.impactaglobal.com/
About Prosper Africa
Prosper Africa is a U.S. Presidential-level national security initiative aimed at fostering stronger economic ties between the United States and Africa. By leveraging resources from 17 U.S. government agencies, Prosper Africa empowers businesses and investors with market insights, deal support, and financing opportunities, driving two-way trade and investment between the U.S. and African markets.
About Legal & General plc
Established in 1836, Legal & General is one of the UK’s leading financial services groups and a major global investor, with £1.2 trillion in total assets under management (as at FY23) of which c40% (circa £0.5 trillion) is international.
We have a highly synergistic business model, which continues to drive strong returns. We are a leading international player in Institutional Retirement, in Retail Savings and Protection, and in both public and private markets through our Asset Management division. Across the Group, we are committed to responsible investing and dedicated to serving the long-term savings and investment needs of customers and society.
As at 7 June 2024, we estimate the Group’s Solvency II coverage ratio to be 224%.
As at 11 June 2024, Legal & General has a market capitalisation of £14.6 billion.
Further Information
For ImpactA Global:
Lindsey Bass, lindsey@impactaglobal.com, +44 7971 476110
For Prosper Africa:
Kristin Bundy, kbundy@usaid.gov, +1-202-558-8221
For Legal & General:
Eleanor Pinnegar, eleanor.pinnegar@group.landg.com, +44 7539 173639