The investment fund manager Maris has just completed a round of financing that has raised $12 million. The financing was provided by Proparco, the subsidiary of the French Development Agency (AFD) group in charge of private sector financing.
Proparco is increasing its climate finance in Africa. The subsidiary of the French Development Agency (AFD) group, responsible for private sector financing, is investing 12 million dollars in a fundraising by Maris. This Mauritius-based permanent capital company invests in agriculture and forestry, renewable energy, real estate services, business services and mining in East Africa.
Proparco provides this financing through the Africa Business Investment and Support Fund (FISEA+) owned by the French Development Agency (AFD) and managed by Proparco. Within the framework of the Choose Africa initiative, this facility with a budget of €210 million and a technical assistance envelope of €21 million aims to foster economic growth and the creation of start-ups, as well as small and medium-sized enterprises (SMEs) in Africa.
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“Proparco’s investment, through the FISEA+ initiative, will help us build the capacity of Maris’ core operating divisions, thereby accelerating the group’s growth,” explains Charlie Tryon, Maris’ President and CEO. 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”.
Jean Marie Takouleu