The Private Infrastructure Development Group (PIDG) has exited its preference share investment in InfraCredit Nigeria, realising $26 million in proceeds, the development finance group said.
The exit was executed through PIDG’s project development arm, InfraCo. PIDG retains its ordinary shareholding in InfraCredit following the company’s listing on the NASD OTC Securities Exchange in 2025.
Philippe Valahu, CEO of PIDG, said, “PIDG has demonstrated how to successfully use increasingly scarce capital to unlock domestic institutional finance.” He said InfraCredit’s strong performances serve as a template for how such entities can be built in the future.
According to Valahu, proceeds from the exit would be reinvested in climate and sustainable infrastructure projects in low-and-middle income countries.
InfraCredit provides naira-denominated guarantees to enhance the credit of local-currency debt instruments issued to finance infrastructure projects. Since its inception, the institution has supported the mobilisation of N327 billion from more than 20 domestic institutional investors across sectors including renewable energy, transport, logistics, and telecommunications.
Chinua Azubike, CEO of InfraCredit, said, “The completion of PIDG’s preference share investment marks an important milestone in InfraCredit’s development.” He added that PIDG supported InfraCredit through its early stages “as we built the institutional strength and market credibility required to operate at scale.”
Despite the exit from preference shares, both organisations said their partnership would continue, with future collaborations planned.
