African Infrastructure Investment Managers buys stake in Sodigaz
Infrastructure focussed private equity fund manager African Infrastructure Investment Managers (AIIM) has bought a stake in Sodigaz an LPG distributor based in Benin and Burkina Faso through AIIM’s pan-African infrastructure fund – AIIF3.
Sodigaz and Progaz (Benin subsidiary), distributes LPG cylinders to households purposefully to replace the higher carbon fuel sources when cooking. Sodigaz commands a strong share of the market in Burkina Faso while leveraging on its strong network of 2,200 resellers that ensure excellent coverage in the main cities and provinces across Burkina Faso. Progaz was launched in 2019 and owns several filling centers.
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Sodigaz offers a strong commitment to the energy transition and also runs a growing solar energy business that supplies domestic and industrial solutions. A transition to lower energy fuels remains slow across sub-Saharan Africa. Only 17% of the population enjoy access to clean cooking across Burkina Faso while in Benin it is at 6%.
Sodigaz Group, CEO of Lala Bolly expressed excitement about this partnership marking a new step in “expansion and positioning in the development of gas and solar energy infrastructure in West Africa.”
AIIM’s Investment Director Patrick Kouame described Sodigaz as a “ local LPG champion.”
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