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Pembani-Proparco
DR
Proparco has just committed a USD 15 million investment in Pembani Remgro Infrastructure Fund II (PRIF II), reinforcing its commitment to supporting sustainable infrastructure development across Africa.

Founded in 2012, South African-based investment manager Pembani Remgro Infrastructure Managers (PRIM) has established itself as a leading player in African infrastructure investment through its first fund, Pembani Remgro Infrastructure Fund I (PRIF I). Following this success, PRIM is launching a second fund, PRIF II, which will broadly follow the same investment strategy as PRIF I, targeting infrastructure opportunities in Africa, underpinned by strong ESG and impact credentials. PRIF II will consider opportunities in traditional infrastructure sectors such as logistics, transportation, and utility-scale electricity generation, as well as emerging infrastructure sectors, including energy transition, digital infrastructure, waste-to-value, grid balancing, and energy efficiency.

This new investment aligns closely with Proparco’s mission to foster sustainable development in Africa. A minimum of 30% of the invested amounts will be allocated to Climate Finance Projects. Furthermore, PRIM qualifies for the 2X Challenge, demonstrating its commitment to gender equality in leadership and employment. Based on employment data from PRIF I, PRIF II is expected to create significant employment opportunities in Africa throughout its fund life.

This investment will contribute to at least 5 core Sustainable Development Goals (SDGs): SDG 5 “Gender Equality”, SDG 7 “Affordable and Clean Energy”, SDG 8 “Decent Work and Economic Growth”, SDG 9 “Industry, Innovation and Infrastructure” and SDG 13 “Climate Action”.

“We are very proud to invest in PRIF II, alongside Remgro and other Development Finance Institutions,” said Françoise Lombard, CEO of Proparco. “At Proparco, we firmly believe that infrastructure is the backbone of social and economic development. It provides sustainable improvement in people’s livelihoods, enables businesses to thrive, and creates the foundation for long-term sustainable growth.”

Herc van Wyk, CEO of PRIM said, “PRIM is delighted to welcome Proparco as an investor in PRIF II, thereby broadening its network of investors who share a common goal of contributing to the rise of the African continent by addressing the clear need for sustainable infrastructure. We look forward to working with Proparco as a long-term partner.”