PEG Africa Ltd

Ghana Infrastructure

PEGAfrica is a finance and distribution company specialising in solar home systems on a lease to own model.

  • Active
  • Exited

Intermediated investment

We are invested in PEG Africa Ltd through Energy Access Ventures Fund, which is managed by Aster Capital Partners. For further information on the fund, the fund manager, and the expected impact of the fund’s investment, click here.

Key facts

Status:
Active
Region

Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.

:
Africa, West Africa
Countries:
Ghana
Sector

We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people.

:
Infrastructure
Investment type

We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).

:
Intermediated investment
Fund:
Energy Access Ventures Fund
Fund Manager:
Aster Capital Partners
Start date

For direct investments, this is the date CDC committed capital to the business or project.

For funds, this is the date that CDC committed capital to the fund.

For underlying fund investments, this is the date that the fund invested capital into the business.e

:
June 2016
Domicile

This is the investee company’s place of incorporation; or a fund’s jurisdiction.

:
Mauritius

Direct Debt

Our investment

CDC’s investment will provide vital local currency debt to PEG, which operates in Ghana, Cote d’Ivoire and Senegal. PEG is CDC's first investment to qualify for the 2X Challenge, a major commitment by the development finance institutions of the G7 to mobilise US$3bn by 2020 for investment in businesses that benefit women.

Expected impact

CDC's investment is expected to enable PEG to provide 200,000 additional households with a clean and reliable source of energy over the next four years by providing local currency working capital to expand its business. At the time of investment, PEG has reached over 60,000 predominantly rural, low-income households (300,000 beneficiaries). The company, with CDC’s support, will be using these an extensive Gender Action Plan initiated in 2017 as a template to drive improved gender diversity across its markets in West Africa, including Ghana, Cote d’Ivoire and Senegal. These actions include gender sensitive recruitment strategies, flexible working hours and encouraging the take up of paternity leave.

Environmental and social aspects

CDC has played an important role in upskilling the organization through guidance to integrate E&S, Occupational Health and Safety and human resource standards across their operations. Additionally, the company, with CDC’s support, will be using its exisiting gender action plan as a template to drive improved gender diversity across its markets in West Africa, including Ghana, Cote d’Ivoire and Senegal.

Key facts

Status:
Active
Region

Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.

:
Africa, West Africa
Countries:
Ghana
Sector

We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people.

:
Infrastructure
Website:
https://pegafrica.com/
Investment type

We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).

:
Direct Debt
Start date

For direct investments, this is the date CDC committed capital to the business or project.

For funds, this is the date that CDC committed capital to the fund.

For underlying fund investments, this is the date that the fund invested capital into the business.e

:
March 2019
Amount

For direct investments, this is the total amount that CDC has committed to the business or project (it may be a combination of equity and debt).

For funds, this is the total amount that CDC has committed to the fund.

:
$15.49m
Domicile

This is the investee company’s place of incorporation; or a fund’s jurisdiction.

:
Mauritius