Corporate and Investment

Standard Bank provides R500m equity finance to PAIDF 2

07 Nov 2022

Country
South Africa
Year
2022
Sector
Energy and Infrastructure
Business Unit
Corporate and Investment Banking
Specific Role
Sole Lender and Mandated Lead Arranger
Standard Bank is proud to announce that it has provided the Pan African Infrastructure Development Fund (PAIDF) 2 with a R500m equity financing solution in order to help the fund deliver on its strategic ambition of transforming Africa through infrastructure.

PAIDF 2 is a R7bn infrastructure fund managed by Harith General Partners, one of the largest investors in African infrastructure. Harith has a long track record of value creation across the continent in the 5 core infrastructure sectors of energy, transport, digital infrastructure, health and water.

This transaction will allow PAIDF 2 to continue making an impact in transforming and driving growth of its infrastructure assets that have the potential to drive African economies into a higher growth trajectory and transform societies for the better. Africa requires substantial investment in energy, water, transport and telecommunications infrastructure to facilitate economic growth and create opportunities for job creation and human development.

Standard Bank shares Harith’s belief that infrastructure-led economic growth has the power to transform Africa and deliver financial and socio-economic returns. We will continue to partner with and support stakeholders that aim to develop quality, reliable, sustainable and resilient infrastructure.