- Proparco just completed a $12 million investment in Maris Climate Action.
- Proparco, the subsidiary of the French Development Agency (AFD) group in charge of private sector financing.
Proparco, a subsidiary of the French Development Agency (AFD) group responsible for private sector financing, is increasing its climate finance in Africa and is investing $12 million in fundraising by Maris.
Through the management of the French Development Agency’s (AFD) Africa Business Investment and Support Fund (FISEA+), Proparco offers this finance. This facility, which has a budget of €210 million and a technical assistance budget of €21 million, is part of the Choose Africa initiative and aims to promote economic growth, start-ups, and small and medium-sized enterprises (SMEs) in Africa. Specifically, the investment company plans to leverage Proparco’s financing to support a range of Maris’ operating companies.
These include Equator Energy, based in Nairobi, Kenya, which provides clean energy to commercial and industrial (C&I) customers in East Africa. Maris has also invested in electric mobility solutions provider Equator Mobility and Meta Group, which provides business services, including machine maintenance in Mozambique, Kenya, Zambia and Uganda. According to Maris, Proparco’s investment will also facilitate the development of Agris Carbon Ventures, a forestry and carbon development company with “new projects in the pipeline across Africa”.