GAIA Fund Managers Targets USD 30mn via Botswana Stock Exchange to Expand African Green Infrastructure

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GAIA Fund Managers aims to raise USD 30 million by listing shares in GAIA Renewables 1 on the Botswana Stock Exchange (BSE), company executives revealed in an interview. If successful, the funds will be directed toward large-scale African climate infrastructure projects.

The listing, introduced this week, improves investor access to the GAIA Africa Climate Fund (GACF), a US dollar-denominated investment vehicle focused on clean energy, water, and sanitation. GAIA Renewables 1 offers Botswana investors indirect access to GACF’s portfolio, which seeks to stimulate private investment and expedite infrastructure development by acquiring interests in existing projects and enabling capital recycling into new ones.

BSE CEO Aupa Monyatsi noted that this issuance highlights the exchange’s growing appeal and its capacity to list products from other markets. He also emphasised the potential for strengthened regional cooperation between the BSE and the Cape Town Stock Exchange, paving the way for more cross-border infrastructure listings within SADC.

The GR1 Class B Preference Shares give investors exposure to income-generating green infrastructure projects, primarily in South Africa, offering Botswana institutional investors a chance to diversify their portfolios through regional renewable assets.

Originally established to facilitate renewable energy investments in South Africa, GAIA Renewables 1 has expanded its mission to support long-term infrastructure investment across the continent. GAIA’s Managing Director, Renier de Wit, confirmed a pipeline of projects, including an initial investment in Kenya, with more to follow as capital is secured.

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The listing is designed to eliminate traditional investment barriers by offering a transparent, regulated, and tradable instrument. GACF, which has already secured USD 50 million in initial commitments and aims to raise to USD 200 million, previously used capital from its October 2020 A Preference Shares listing to fund the 95 MW Tsitsikamma Community Wind Farm in South Africa.

GAIA Fund Managers, a registered financial services provider, has a strong track record in secondary market infrastructure transactions in South Africa, with completed deals exceeding R4.5 billion across renewable energy, fiber networks, and toll roads.