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Canada’s bilateral development finance institution, FinDev Canada, has announced a $20 million commitment to Ninety One’s Africa Credit Opportunities Fund III (ACO3).
The private credit fund provides financing to enterprises and infrastructure projects across Africa and other emerging markets.
The fund is expected to reach a final close of over $400 million in early 2026. It has already secured backing from the International Finance Corporation, British International Investment, and the Swiss Development Finance Institution, alongside other institutional investors, with Standard Bank of South Africa serving as credit provider.
“Private credit can be a powerful tool to help local enterprises in Africa overcome financing barriers. That’s why, we are pleased to partner with Ninety One by investing in ACO3, deepening our presence in the region and reinforcing Canada’s leadership in development finance. This partnership reflects FinDev Canada’s commitment to expanding private sector engagement, developing local markets, supporting jobs, and strengthening gender equality,” said Paulo Martelli, VP and chief investment officer at FinDev Canada.
“We welcome FinDev Canada as an investor in our Africa and Emerging Markets focused private credit strategy. Their confidence in ACO3 reflects the strength of our investment approach, the depth of our platform, and the wealth of compelling opportunities across our markets. This partnership not only reinforces our commitment to delivering value for investors but also strengthens our presence in Canada, where we have maintained a footprint for nearly a decade,” Kobi Sam, managing director for emerging market alternative credit at Ninety One.
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