In Senegal, the Facility for Energy Inclusion, managed by Cygnum Capital arranged additional debt for AktivCo

On July 24th, 2023, FEI, Proparco, Norfund and AfricaGoGreen (the “Lenders”) signed agreements to provide EUR 49.9m of additional debt to AktivCo for the expansion into Senegal. FEI acted as lead arranger. This additional debt package is a sign of the Lenders’ commitment to support AktivCo’s expansion strategy in Africa. 

“We are satisfied with the signature of this new facility supporting the successful deployment and management of the ESCO project that we have been awarded recently in Senegal. This fruitful partnership with our lenders is a fundamental block for the development of our Group, and in particular for our InfraCo Division, AktivCo. I want to express my gratitude and appreciation to our lenders for their constant support and confidence in our capacity to accomplish our mission to reshape the telecom infrastructures into sustainable business models and become a net contributor to the fight against climate change. At the same time, congratulations to our financial team for their dedication to and the hard work invested in this project, and thus in the development of AktivCo.” said Richard Thomas, CEO of Camusat Group.

“This new transaction between AktivCo and the Lenders shows the long-term commitment of the Lenders to support its clients and the ability of the FEI team to arrange debt in a timely manner. This new milestone also demonstrates the financial robustness of the ESCO model”, said Orli Arav, Head of Debt Funds at Cygnum Capital Asset Management.

“Proparco has been supporting AktivCo since 2021 and is proud to deepen this long-term partnership with them. AktivCo has succeeded in extending its footprint in Africa with this new project in Senegal – confirming their position as a key player in the ESCO sector. This new expansion will further improve the impact of AktivCo and the Lenders on mobile coverage, digital inclusion, and carbon emission reduction,” said Pierre-Alain Pacaud, Head of Power & Digital – Africa and Middle East at Proparco.

“Together with our partners, Norfund has actively supported AktivCo since 2021 and we congratulate Aktivco on expanding their business model to Senegal. Norfund is proud to support the Company’s continued focus on decarbonizing power supply under a demonstrated ESCO model by providing clean and reliable energy services to telecommunication infrastructure in sub-Saharan Africa”, said Anders Bloom, Senior Vice President Renewable Energy at Norfund.