Goddy Egene InfraCredit, a specialised local currency infrastructure credit guarantee institution, has announced the completion of a $27 million equity investment by InfraCo Africa, part of the Private Infrastructure Development Group (PIDG). InfraCo Africa’s equity investment makes it an equivalent shareholder alongside the Nigeria Sovereign Investment Authority (NSIA) and Africa Finance Corporation. On account of this investment, Chief Executive Officer (CEO) of InfraCo Africa, Gilles Vaes, and Chief Investment Officer of InfraCo Africa, Claire Jarratt, will join InfraCredit’s Board of Directors. Commenting, Vaes, said: “Our equity investment in InfraCredit marks the first major transaction of our dedicated investment vehicle, InfraCo Africa Investments. The infrastructure financing gap in Africa is large and requires approaches that increase the scale and pace of infrastructure development and we are therefore pleased to support PIDG’s wider strategy of developing local capital markets to unlock vital infrastructure finance.”