The first carbon-mitigating mutual fund in Nigeria to be quoted on the stock market, Africa Infra Plus Fund (AIPF I), has been listed on the Nigerian Exchange (NGX).
The AIPF 1 is an N20.5 billion closed-end infrastructure fund that is jointly managed by Africa Plus Partners Plc and Capitaltrust Investments & Asset Management Limited.
The framework of AIPF 1 consists of a pool of equity and quasi-equity investments in carbon+ infrastructure projects that support sustainable growth, such as ports, airports, ports, power, water supply, and roads.
The fund also buys shares and other investment instruments from socially responsible companies that exclusively work on infrastructure projects or run infrastructure businesses.
The listing coincided with the NGX’s announcement of plans to introduce Impact Board, a dedicated window that will increase awareness for sustainable financial instruments listed on the Exchange.
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The listing came as the NGX announced arrangements to launch a special window to be known as Impact Board to further give visibility to sustainable financial instruments listed on the Exchange.
Anhad Narula, Chairman of Africa Plus Partners, described the fund as a sustainable infrastructure fund that specializes in investments in infrastructure that reduces carbon emissions.
He noted that the fund, whose investors include ordinary Nigerians through their pension fund administrators, is committed to investing in sustainable infrastructure companies that support the global energy transition and shift towards cleaner sources of energy as well as efficiently run, sustainable infrastructure and utility services.
The listing, according to Africa Plus Partners Plc’s Managing Director, Mr Adeniran Ajakaiye, was intended to showcase the highest standards of good governance and transparency.
He added that by investing in projects that strictly adhere to ESG standards, AIPF seeks to address the disparity between the demand for infrastructure expansion and the worries about its environmental and social effects.
He emphasized that the fund’s listing on NGX was a blatant demonstration of both the Exchange’s commitment to sustainable investing in Africa and the growing interest and demand for it.
Temi Popoola, the Chief Executive Officer of the Nigerian Exchange (NGX), stated that the listing was an important step in the Exchange’s mission to promote sustainable investing and lessen the causes and effects of climate change.
Story was adapted from The Nation.
