Key Takeaways
- • Ninety One closed its Africa Credit Opportunities Fund 3 at a final close of $404 million, signaling sustained institutional demand for private credit strategies targeting African infrastructure and businesses.
- • Africa50's Infrastructure Acceleration Fund received a $20 million investment from the IFC, following a first close of $222.5 million from 16 institutional financiers, with the group's CEO Alain Ebobissé citing growing participation from African institutional investors.
- • The Emerging Africa and Asia Infrastructure Fund deployed a $32.8 million senior secured loan to Eastcastle Infrastructure DRC, part of a $179 million upsized facility for tower operations in the Democratic Republic of Congo.
- • Africa accounts for less than 1% of the global $3 trillion private credit market, according to finance expert Felix Boadi Missah, although 2025 deal volumes rose 8%.
- • Bank lending is slowing across the region, and private credit is increasingly filling infrastructure gaps in energy, logistics, and digital connectivity, per the Southern Africa Venture Capital Association's 2025 report.
Summary
Private credit is emerging as a meaningful source of financing for Africa's infrastructure deficit, as traditional banks and development finance institutions tighten capital flows, according to a Global Finance Magazine article in its October issue. The Southern Africa Venture Capital Association's 2025 report describes private credit and infrastructure as "gaining traction" across the continent, and notes that private credit has become the "most favoured strategy" among African private equity firms seeking diversification.
Recent transactions illustrate the trend. Ninety One announced the final close of its Africa Credit Opportunities Fund 3, which raised $404 million. Separately, the IFC committed $20 million to the Africa50 Infrastructure Acceleration Fund, which targets digital infrastructure, renewable power, transportation, logistics, and water and sanitation projects. That vehicle's first close secured $222.5 million from 16 institutional financiers. Africa50 Group CEO Alain Ebobissé attributed the fund's appeal to private credit investors to support from African institutional investors. In the power and connectivity segment, the Emerging Africa and Asia Infrastructure Fund deployed a $32.8 million senior secured loan to Eastcastle Infrastructure DRC for mobile tower base stations, as part of a $179 million upsized facility. BluePeak Private Capital Fund II also invested $12 million in Monty Mobile International, a digital connectivity provider.
Demand drivers include persistent electricity deficits across much of the continent, including in Zimbabwe, the Democratic Republic of Congo, Zambia, Nigeria, Ivory Coast and Libya, according to the World Bank's Africa Pulse report. Mining companies and telecom operators are also seeking capital for solar power plants. Standard Chartered's head of loan syndicate for Africa, Sanaa Tabani, said investor interest in African debt is rising. Investec identified private credit opportunities in South Africa's rail and port infrastructure, which it said is constraining export growth. Africa's share of global private credit remains small, at under 1% of a roughly $3 trillion market, according to Felix Boadi Missah, though the article cites $600 million in private debt investment into Africa in the first half of 2026.
Recent transactions illustrate the trend. Ninety One announced the final close of its Africa Credit Opportunities Fund 3, which raised $404 million. Separately, the IFC committed $20 million to the Africa50 Infrastructure Acceleration Fund, which targets digital infrastructure, renewable power, transportation, logistics, and water and sanitation projects. That vehicle's first close secured $222.5 million from 16 institutional financiers. Africa50 Group CEO Alain Ebobissé attributed the fund's appeal to private credit investors to support from African institutional investors. In the power and connectivity segment, the Emerging Africa and Asia Infrastructure Fund deployed a $32.8 million senior secured loan to Eastcastle Infrastructure DRC for mobile tower base stations, as part of a $179 million upsized facility. BluePeak Private Capital Fund II also invested $12 million in Monty Mobile International, a digital connectivity provider.
Demand drivers include persistent electricity deficits across much of the continent, including in Zimbabwe, the Democratic Republic of Congo, Zambia, Nigeria, Ivory Coast and Libya, according to the World Bank's Africa Pulse report. Mining companies and telecom operators are also seeking capital for solar power plants. Standard Chartered's head of loan syndicate for Africa, Sanaa Tabani, said investor interest in African debt is rising. Investec identified private credit opportunities in South Africa's rail and port infrastructure, which it said is constraining export growth. Africa's share of global private credit remains small, at under 1% of a roughly $3 trillion market, according to Felix Boadi Missah, though the article cites $600 million in private debt investment into Africa in the first half of 2026.
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