- ARM-Harith has launched a $250m fund for climate-resilient infrastructure in West Africa.
- The fund will initially focus on clean energy, mobility, water and waste.
Mauritius-based infrastructure fund manager ARM-Harith Infrastructure Investments Limited has launched the ARM-Harith Cities and Climate Transition Fund (The ACT Fund). The fund, supported by the Global Innovation Lab for Climate Finance, is a $250 million-target fund that will invest in urban climate infrastructure solutions with an initial focus on renewable energy, urban mobility, water, and waste.
The ACT Fund is a blended finance instrument that aims to unlock financing for low-carbon, climate-resilient development in West Africa. ARM-Harith plans to work with relevant stakeholders to ensure the long-term sustainability of its investments and alignment with the Sustainable Development Goals. Tariye Gbadegesin, the CEO, ARM-Harith, stated: “We are thrilled to build on the track-record of our first fund ARMHIF 1 to establish a broad-based climate infrastructure investment program in partnership with global financial institutions to mobilise climate finance to West Africa and, importantly, Nigeria.”
“As we continue to embrace sustainable investing across the ARM Holding Company group, we are pleased to partner with ARM-Harith as one of its consortium members in achieving the broad ESG strategy of the ARM Group”, stated Jumoke Ogundare, Group CEO of ARM. Alwyn Wessels, Deputy CEO of Harith General Partners, says: “Harith as a partner with and investor in infrastructure funds across Africa is excited by the prospects of The ACT Fund and the potential for the fund to promote real climate action in West Africa.”