The International Finance Corporation (IFC) has announced plans to invest up to $25 million in the African Transition Acceleration Fund (ATAF), a move aimed at advancing Africa’s clean energy transformation. The investment, pending board approval on November 27, 2025, will provide seed capital to help ATAF secure a first close of approximately $100 million.
Based in Mauritius, ATAF is managed by African Fund Managers and advised by African Infrastructure Investment Managers (AIIM). The fund seeks to support the growth of companies and ecosystems involved in Africa’s energy transition, green technologies, and sustainable mobility, addressing the continent’s financing gap in these critical sectors.
With a target capital raise of $200–250 million, ATAF aims to mobilize additional institutional investors, leveraging IFC’s participation as an anchor investor to enhance the fund’s credibility. The initiative is expected to enable early-stage projects and companies to access much-needed capital, helping bridge the shortfall in private equity flows to Africa, which currently represent only 3% of total inflows to emerging markets.
Founded in 2000, AIIM, a subsidiary of South Africa’s Old Mutual Limited, manages around $3.4 billion in assets and operates across Cape Town, Johannesburg, Nairobi, Lagos, and Abidjan. The company focuses on investments in digitalization, energy transition, and mobility, supporting sectors critical to Africa’s sustainable growth and development.
