FRAGG Investment Management Limited in collaboration with Development Finance Institutions is offering a round of support for financial institutions, and companies in the Impact and Climate Finance domain in the West African region, to raise new capital as debt and equity investments, and support business growth.
FRAGG Investment Management Limited is an impact investment management and advisory company that specialises in the management of funds targeting investments in the impact and climate domains.
Consequently, the firm is making available a minimum of N175 million for investment in companies and projects in the impact sectors such as- Financial Institutions (MFIs, SME Banks, Finance Houses, OFIs, and Commercial Banks) Agriculture, Healthcare, Affordable Housing, and Climate Finance – that are looking to expand and scale-up.
Such companies and projects invited to apply for a round of support and funding from a wide range of offshore investors (Development Finance Institutions, Specialised Investment Funds, Impact Funds, and other partner investors).
“Using a triple-bottom line approach, our main target is investing in and mobilising funds for high-growth companies in Nigeria and West Africa that promote social and environmental impact. Our goal is to make a strong financial return for investors while supporting companies that are contributing to a better world”, Franklin Odoemenam, managing director said.
The timeframe for the application and selection process of interested participants is between July 6, 2018 and August 7th, 2018.
The fund targets the following impact sectors: Inclusive finance & related fintech services: Including Microfinance/SMEs Banks, Finance Houses, OFIs, Commercial Banks, and Financial Technology Solutions.
Agriculture: Agribusinesses covering the entire agriculture value chain, including but not limited to food production especially small-holder farming, food processing and storage, packaging, distribution (transportation and haulage), and wholesale/retail market (export or domestic).
Indirect investments into financial institutions with viable agriculture portfolio to finance operations that meets with the investment criteria.
Healthcare & related services: From diagnosis to treatment and core areas of health management and prevention, including but not limited to general and specialised hospitals, primary health care centres, pharmaceuticals, HMOs, and health technology.
Affordable housing: Housing projects that increase access to practical and viable housing especially for earners on the lower end of the spectrum. Sustainable and energy efficiency housing projects are of particular interest.
Climate finance: Projects covering climate Mitigation, Adaptation and REDD+ (reducing emissions from deforestation and forest degradation). Projects including but not limited to Renewable Energy, Lower Carbon & Efficient Energy Generation, Waste Management & Recycling, Non-Energy GHG Reductions, Sustainable Transportation, Water & Waste Water Systems, and Coastal & Riverine Infrastructure.
Education: Inclusive education models with projects covering low-fee private education in preparatory, primary, secondary, tertiary, and vocational institutions, education technology (EdTech), educational infrastructure and related services.
