The Power of Potential

Founded in 2017, EIMS Africa quickly became one of the largest locally-owned renewable energy companies in South Africa. With 16 utility-scale projects in operation, and a combined generation capacity of over 1GW, EIMS Africa experienced consistent growth and established an undeniable presence in the renewable energy industry.

Integrating these two entities into Anthem empowers us to ramp up production, continue to compete with local and international companies, and more seamlessly lead South Africa into an energy transition that’s agile and efficient.

African Infrastructure Investment Managers (AIIM) and the AIIM Managed IDEAS Fund were historically the majority shareholders in ACED and EIMS respectively, and IDEAS the majority shareholder in the underlying projects in construction or operations. These shareholdings are now transferring to Anthem ownership, where the IDEAS Fund will remain the majority shareholder in Anthem.

AIIM and the IDEAS Fund have been key to ACED and EIMS successes.

AIIM, a member of Old Mutual Alternative Investments, develops and manages private equity infrastructure funds designed to invest long-term institutional unlisted equity in African infrastructure projects.

AIIM actively manages investments in North, East, West, and Southern Africa and as of the end of December 2024 has assets under management of USD 3.2 billion, with a track record extending across eight African infrastructure funds.

With offices across South Africa, Nigeria, Kenya, and Cote d'Ivoire, AIIM have a thorough understanding of the African business environment and extensive experience spanning a range of infrastructure asset classes.

The Mahlako Energy Fund (MEF), a founding investor in Anthem, is the largest South African women-owned private equity fund, dedicated to investing in projects and companies across the energy value chain, focusing on renewable energy, gas and energy services.

Mahlako Financial Services (“the Fund Manager”) raised and deployed R2 billion through the Mahlako Energy Fund (“the Fund”) (MEF), backed by fourteen institutional investors, where 100% of its capital was committed within three years of first close. MEF has deployed capital into high-growth, transformational projects that support the country’s energy transition. Mahlako Financial Services, a subsidiary of Mahlako a Phahla Investments, is a 100% South African women-owned, alternative investments fund manager investing in developmental assets providing sustainable returns and impact over the long term. For more details, please visit: www.mahlakofs.co.za

Norfund is another founding investor and shareholder in Anthem (subject to customary approvals). Norfund is the Norwegian Investment Fund for developing countries with a mission to create jobs and improve lives by investing in businesses that drive sustainable development. Owned and funded by the Norwegian Government, Norfund is the Government’s most important tool for strengthening the private sector in developing countries and reducing poverty.

Norfund’s committed portfolio amounts to USD 3.8 billion, with investments across Sub-Saharan Africa, South/Southeast Asia, and Latin America. Additionally, Norfund manages the Norwegian Climate Investment Fund, which focuses on reducing or avoiding greenhouse gas emissions by investing in renewable energy in developing countries with large emissions from coal and other fossil fuel production. For more details, please visit: www.norfund.no