NAIROBI, Kenya, Oct 6 – Two subsidiaries of the London-based multilateral Private Infrastructure Development Group (PIDG) GuarantCo and InfraCo, have opened their first Africa office in Nairobi.
InfraCo Africa’s Chairman Brian Count says the move will create opportunities to leverage the complementary work of the two companies working with the private sector to deliver more infrastructure for East and Southern Africa.
Additionally, the two companies will enhance PIDG’s engagement with local markets, originate new deals and mobilise private capital for the company.
GuarantCo was established by PIDG in 2006 to encourage infrastructure development in low-income countries, through the provision of credit guarantees that enable infrastructure projects to raise debt finance.
On the other hand, InfraCo Africa was established in 2004 to provide the early stage risk capital, private sector development expertise and the highest operating standards, to develop infrastructure projects across a range of sectors in sub-Saharan Africa.
“We are pleased to further strengthen our presence in the region with our new address where we will be co-located with InfraCo Africa, a specialised financing and project development company designed to assume the risks and costs of early-stage development,” said Janice Kotut, Regional Director, East and Southern Africa, GuarantCo.
Since its inception, GuarantCo has provided guarantees to a total value of around US$700m (Sh72.22 billion). InfraCo, on the other hand, has mobilised over US$2bn (Sh206.3 billion) of investment and provided new infrastructure for approximately 13 million people.