June 2026 – ARM-Harith Infrastructure Investments has achieved a $76 million first close for its pioneering Multi-Currency Climate Fund, a blended finance platform designed to accelerate infrastructure investment across sub-Saharan Africa. Targeting a $200 million final close, the fund is Africa’s first integrated structure combining US dollar and local currency investments, addressing one of the biggest barriers to infrastructure financing: currency mismatch.
The fund aims to mobilize capital for climate-resilient infrastructure, renewable energy, and sustainable development projects. By aligning investment capital with local asset revenues while maintaining dollar exposure for international investors, ARM-Harith is introducing a more effective model for financing Africa’s infrastructure needs.
Anchored by $20 million in catalytic funding from the African Development Bank (AfDB) through its Sustainable Energy Fund for Africa (SEFA) and FSD Africa Investments (FSDAi), the platform is designed to reduce risk and encourage broader participation from African pension funds and institutional investors. This blended structure is expected to unlock long-term capital while ensuring projects deliver both commercial returns and measurable development outcomes.
CEO Rachel More-Oshodi emphasized that the fund builds on ARM-Harith’s proven track record in infrastructure investment. Its predecessor financed over 700 MW of power capacity, supported 22,500 jobs, and helped avoid 2.6 million tonnes of CO2 emissions annually. The new fund expands this model by combining local and international capital within a single platform tailored to Africa’s realities.
Priority investments will include renewable energy projects, energy transition infrastructure, and climate-resilient assets capable of supporting sustainable growth. By generating stable cash flows while addressing infrastructure deficits, the fund seeks to strengthen resilience and accelerate Africa’s energy transition.
The successful first close represents a major milestone in Africa’s climate finance landscape. As demand for clean energy and resilient infrastructure grows, innovative blended finance vehicles like ARM-Harith’s Climate Fund are expected to play a critical role in mobilizing private capital and supporting sustainable development across the continent.
