IFC invests $13mn in Africa Conservation and Communities Tourism Fund

IFC invests $13mn in Africa Conservation and Communities Tourism Fund
IFC invests $13mn

The International Finance Corporation has invested USD 13mn in the Africa Conservation and Communities Tourism Fund (ACCT), a fund that supports ecotourism in East and Southern Africa namely Kenya, Tanzania, Zambia, Namibia, South Africa and Botswana.

With the backing from the IFC, and others, the fund has reached its final close and has raised USD 70mn, which is structured using blended finance with three tranches—grant funding, junior equity and senior equity. The IFC’s investment takes the form of senior equity.

ACCT was founded by ThirdWay Partners and The Nature Conservancy and is aligned with the national tourism strategies of the respective countries.