Africa50 invests in Azura Edo in Nigeria
Summary
We are excited with the addition of such an African focused investor as one of our shareholders in Nigeria.Adrian Mucalov, Partner at Actis, added We have invested over US$1billion across Africa in the electricity sector- we are deeply committed to the continent. We take our responsibility to the countries, cities and communities in which we operate extremely seriously; and we are excited to be investing in this world-class business that is already directly contributing to the economic growth of Nigeria.Azura Power (Azura) is a developer, financier, acquirer and operator of Independent Power Plants (IPPs) across Africa. Azura also owns the Tobene IPP in Senegal.Actis is a leading investor in growth markets, with a long-standing commitment to best practice responsible investing and to supporting the economic development agenda of its host countries. Actiss energy business has committed US$5bn to 34 energy investments in over 20 countries; this translates to more than 25GW of generating power which have provided access to over 100 million people across the firms markets.Actis is a signatory to the United Nations-backed Principles for Responsible Investment (UNPRI), an investor initiative developed by the UNEP FI and the UN Global Compact. Actis is also a market leader in the design, implementation and measurement of social impact from its investing activity.