Africa GreenCo, a regional power trader and off-taker based in Lusaka, has secured an additional $11.5 million from its existing shareholders, the Private Infrastructure Development Group (PIDG) and Impact Fund Denmark (IFDK, formerly IFU). The investment follows the recent entry of Sanlam Alternative Investments, one of Africa's largest institutional investors, bringing the company's total third-close fundraise to $21.5 million.

The latest commitment was delivered through PIDG's project development arm, InfraCo, building on earlier technical assistance, project development and guarantee support PIDG has already provided to Africa GreenCo.

Africa GreenCo has been trading for under five years, having joined the Southern African Power Pool (SAPP) in late 2021. It holds licences in Zambia, Zimbabwe, Namibia and South Africa, and has traded more than 1.4 terawatt-hours of power so far this year. As a bankable off-taker for renewable independent power producers, the company says it strengthens energy security, reduces emissions and supports regional power market integration by acting as a full participant across SAPP's competitive markets.

Pug Bennett, Africa GreenCo's founder and group CFO, said the backing from both new and existing shareholders reflected confidence in the business, and that the added financial strength, alongside facilities already provided by GuarantCo and the European Commission's EFSD+ programme, would let GreenCo continue supporting the region's energy transition as a key infrastructure stakeholder.

Thomas Hougaard, managing director and co-head of green energy and infrastructure at IFDK, said the fund has backed Africa GreenCo since its first capital raise, and that in 2025 IFDK helped mobilise a €50 million guarantee facility that helped attract further private capital, including Sanlam's entry.

Omar Jabri, PIDG's head of business development for Africa at InfraCo, welcomed Sanlam to the shareholder base alongside IFDK, saying the combination of private-sector capital and institutional expertise would support the next phase of Africa GreenCo's growth as it scales its model to accelerate the region's renewable energy transition.