Bridge

About GuarantCo

Financing infrastructure and developing capital markets

GuarantCo was established in 2005 to help close the infrastructure funding gap and alleviate poverty in lower income countries across Africa and Asia. Our local currency credit solutions transform capital markets by mobilising private sector capital to finance essential infrastructure projects.

GuarantCo is part of the Private Infrastructure Development Group (PIDG) which operates along the project life cycle and across the capital structure, to help infrastructure projects overcome financial, technical and environmental challenges.

GuarantCo structure

Funders

GuarantCo is funded by the governments of the United Kingdom, Switzerland, Australia and Sweden, through the PIDG Trust, the Netherlands, through FMO directly and the PIDG Trust, France through a stand-by facility and Global Affairs Canada through a repayable facility.

Fund manager

GuarantCo’s activities are managed by GuarantCo Management Company which is part of Cardano Development. The Fund Manager is responsible for implementing GuarantCo’s investment strategy and managing its portfolio.

OUR FUND MANAGER

GuarantCo, through GuarantCo Management Company (GMC), manages its activities through fund manager, Cardano Development, under an exclusive long-term contract.

 

The Fund Manager is the principal point of contact for GuarantCo and is responsible for advising GuarantCo on transactions including origination, structuring, documentation, performing due diligence and monitoring GuarantCo’s portfolio.

 

Cardano Development (CD) took over management of GuarantCo in May 2016. CD is an incubator and fund manager, established in 2007. Through careful risk-management analysis in data poor settings, CD identifies scalable solutions that can help to make frontier financial markets more inclusive, investible, and sustainable to unlock lasting economic value. CD creates scalable solutions for currency, credit, and liquidity risks in these markets. With over USD 5 billion assets and USD 1.2 billion capital under management, CD supports five scale-up funds, including TCX, GuarantCo, Frontclear, BIX Capital and AGRI3 and four start-ups, ILX, the Water Finance Facility, IMFact and NASASA Cardano Development with ongoing management services and corporate governance oversight. Cardano Development works with reputable partners including foundations, governments, impact investors, institutional investors and commercial partners.

Our milestones

We have established a track-record of innovation and growth.

2005

GuarantCo is incorporated as a Mauritian company and tender launched for a new fund manager

2005

1st Local currency Bond issue by Celtel Kenya

2009

1st Leverage facility applied Increases guarantee capacity to USD 146m

2010

Local currency
1st Local currency Securitisation in India

2011

100

Million exceeded


Total run-rate portfolio size (USD)

2011

Local Currency
1st Local currency Corporate bond in Nigeria

2012

Local Currency
1st Local currency Bond in Sri Lanka & Sukuk in Pakistan

2012

Provides 1st co-guarantee with US AID in Uganda


Provides 1st guarantee for Standard Chartered Bank

2012

1st one PIDG project GuarantCo, EAIF and lnfraCo Africa combine on Kalangala project in Uganda

2013

Local Currency
1st Local currency Project financing in Nepal

2014

Local Currency
1st Local currency Project financing in Cameroon

AA-

Rated

Fitch

A1

Rated

Moody's

AAA

Rated

Bloomfield

2015

300

Million exceeded


Total run-rate portfolio size (USD)

2015

Nairobi office opens

AAA

Rated

PACRA

2016

400

Million exceeded


Total run-rate portfolio size (USD)

2016

1st Leverage facility cancelled beneficiaries rely solely on GuarantCo’s standalone credit ratings

Change in Manager to GMC Limited, part of Cardano Development

2017

500

Million exceeded


Total run-rate portfolio size (USD)

2017

Singapore office opens

2017

1st transaction of lnfraCredit Nigeria as operations commence

Strategic partnership signed with LSE to support developing markets’ local currency bond issuance

2018

750

Million exceeded


Total run-rate portfolio size (USD)

2018

1st local currency Corporate bond in Vietnam and Ghana

1st guarantees of synthetic local currency green bond in India, moves market from 5 to 7 years

2018

Co guarantee platform MoU signed with African Development Bank

LSE bond listings for Quantum Terminal and Sindicatum

2019

875

Million exceeded


Total run-rate portfolio size (USD)

2019

1st dual-currency guarantee in Bangladesh

1st guarantee in Jordan

1st co-financing with Asian Development Bank (Kacific)

2020

1st green Kenyan bond Listing on NSE and LSE (Acorn)

1st Guarantee in Madagascar (GreenYellow) and Tanzania (CRDB).

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