InfraCredit

MOBILIST invested in the initial public offering (IPO) of InfraCredit, Nigeria’s first and only domestic creditor guarantor, on the Nigeria NASD OTC Exchange Plc (NASD).

InfraCredit provides local currency guarantees to enhance the creditworthiness of domestic Nigerian infrastructure debt securities. This attracts investment from local institutional investors, most notably pension funds, thereby enabling more domestic capital to flow towards Nigerian infrastructure development.

Through listing on the NASD with MOBILIST’s backing, InfraCredit attracted direct equity investment from two pension funds, enabling the company to raise $17.7 million in new equity and expand its capacity to provide guarantees. MOBILIST’s backing will support InfraCredit’s green growth strategy, enabling a greater focus on renewable energy.  Becoming a listed company will make InfraCredit eligible for investment by a greater range of private sector institutional investors, enabling the company to scale further beyond its initial base of development finance capital.

InfraCredit was established in 2017 with the support of GuarantCo, a Private Infrastructure Development Group (PIDG) company, and the Nigeria Sovereign Investment Authority (NSIA). InfraCo Africa, another PIDG company, became an investor in 2020. InfraCredit has since put in place financing partnerships with UK entities British International Investment (BII) and Financial Sector Deepening Africa (FSDA).