ARM-Harith Infrastructure Investments has achieved a $76 million first close for a pioneering Multi-Currency Climate Fund designed to accelerate infrastructure investment across sub-Saharan Africa. The fund combines US dollar and local currency investments within a single structure, helping address currency mismatch risks while attracting both domestic and international investors. The innovative platform aims to mobilize capital for climate-resilient infrastructure, renewable energy and sustainable development projects throughout Africa.
Key Overview
- ARM-Harith secured a $76 million first close
- Fund targets $200 million at final close
- Africa’s first integrated multi-currency climate investment platform
- Supported by AfDB and FSD Africa Investments
- Focuses on climate-resilient infrastructure and energy projects
- Designed to attract African pension funds and institutional investors
- Addresses currency mismatch challenges
ARM-Harith Reaches Major Fundraising Milestone
ARM-Harith Infrastructure Investments has secured $76 million at the first close of its Climate Transition Fund, marking a significant milestone for sustainable infrastructure financing in Africa.
Targeting $200 million at final close, the fund is Africa’s first integrated multi-currency blended finance platform that combines US dollar and local currency investments within a single structure.
The fund has been created to address one of the biggest barriers to infrastructure investment across Africa—currency mismatch. Many infrastructure projects generate revenues in local currencies while financing is often sourced in foreign currencies, exposing investors and developers to exchange-rate risks.
By aligning investment capital with local asset revenues while maintaining dollar exposure for international investors, ARM-Harith aims to create a more effective funding model for infrastructure development.
Africa Climate Fund Targets Institutional Capital
A key objective of the new Africa Climate Fund is to unlock greater participation from African institutional investors.
Pension funds and other institutional investors manage significant pools of long-term capital across the continent, yet infrastructure investment has often remained limited due to concerns around risk, tenure and currency exposure.
ARM-Harith Chief Executive Officer Rachel More-Oshodi said the fund builds on the success of the company’s previous infrastructure investment platform.
According to More-Oshodi, the predecessor fund demonstrated that domestic institutional capital can be mobilized successfully into infrastructure equity investments.
The new fund expands that model by bringing local and hard-currency capital together within a single investment platform designed around the realities of African infrastructure assets.
Strong Support From Development Finance Partners
The first close was anchored by a combined $20 million in catalytic funding from the African Development Bank through its Sustainable Energy Fund for Africa (SEFA) and FSD Africa Investments (FSDAi).
This catalytic capital is intended to reduce investment risk and encourage broader participation from pension funds and institutional investors.
Joao Duarte Cunha, Manager of AfDB’s Renewable Energy Funds Division, described the first close as a significant milestone for renewable energy investment on the continent.
He said SEFA’s participation demonstrates how blended finance structures can mobilize private-sector investment while unlocking long-term institutional capital for sustainable infrastructure development.
Meanwhile, FSDAi emphasized that properly structured investment vehicles are critical for helping pension funds participate in infrastructure equity while remaining aligned with their investment objectives.
Climate Finance Fund Focuses on Resilient Infrastructure
The new Climate Finance Fund will invest in climate-resilient infrastructure and energy projects throughout sub-Saharan Africa.
ARM-Harith intends to deploy capital into projects that deliver both measurable development outcomes and strong commercial performance.
Priority investments are expected to include renewable energy projects, energy transition infrastructure and other assets capable of supporting long-term economic growth while improving climate resilience.
The fund aims to generate stable cash flows while helping countries address infrastructure deficits and sustainability challenges.
As governments seek additional financing to support energy transitions and climate adaptation efforts, blended finance structures such as ARM-Harith’s fund are increasingly viewed as important tools for mobilizing private capital.
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Building on Proven Results
The Climate Transition Fund builds on ARM-Harith’s established track record in infrastructure investment.
Through its predecessor fund, the company financed critical transport and energy infrastructure projects, including over 700 MW of power capacity.
These investments supported approximately 22,500 jobs and helped avoid an estimated 2.6 million tonnes of CO2 emissions annually.
ARM-Harith intends to build on these achievements by targeting projects that combine climate impact with strong financial returns.
Sustainable Investment Fund Supports Energy Transition
The launch of this Sustainable Investment Fund comes at a time when demand for climate-focused infrastructure financing is growing rapidly across Africa.
Countries throughout the region are seeking investment in clean energy, resilient infrastructure and sustainable economic development. At the same time, institutional investors are looking for long-term assets capable of generating predictable returns.
By combining local and international capital within a single structure, ARM-Harith believes the fund can help bridge the gap between infrastructure financing needs and available investment capital.
Outlook
The successful $76 million first close represents an important step toward ARM-Harith’s $200 million fundraising target. By creating Africa’s first integrated multi-currency climate investment platform, the company is introducing a new approach to infrastructure financing that addresses currency risk while expanding investor participation.
As demand for renewable energy and climate-resilient infrastructure continues to grow, innovative climate funds such as ARM-Harith’s are expected to play an increasingly important role in mobilizing capital, supporting sustainable development and accelerating Africa’s energy transition.
Sources: Leadership Newspapers, Dealroom, New Telegraph
FAQS
Q1: What is ARM-Harith’s Climate Transition Fund?
ARM-Harith’s Climate Transition Fund is Africa’s first integrated multi-currency blended finance platform designed to invest in climate-resilient infrastructure and energy projects. The fund combines US dollar and local currency investments within a single structure to better align financing with project revenues.
Q2: How much capital has ARM-Harith raised for the fund?
ARM-Harith has secured a $76 million first close for the fund and is targeting a total of $200 million at final close. The initial funding includes $20 million in catalytic capital from the African Development Bank (AfDB) and FSD Africa Investments (FSDAi).
Q3: What types of projects will the Climate Transition Fund invest in?
The fund will invest in climate-resilient infrastructure, renewable energy projects, and energy transition assets across sub-Saharan Africa. Its goal is to support sustainable development while generating stable long-term returns for investors.
Q4: Why is the fund’s multi-currency structure important?
The multi-currency structure helps address currency mismatch, a common challenge in African infrastructure financing. By allowing investments in both local currencies and US dollars, the fund aligns financing with local project revenues while still providing international investors with hard-currency exposure.
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