Africa Sustainable Forestry Fund II

The Africa Sustainable Forestry Fund II (ASFFII) is a USD 150 million private equity fund managed by Criterion Africa Partners that invests in sustainable forestry value chains in Africa. The fund utilizes a blended equity structure comprising one commercial investor, Calvert Impact Capital, and five development finance institutions (DFIs): AfDB, BIO, EIB, FinDev, and FMO. ASFFII focuses on plantation rehabilitation, expansion, sustainable downstream manufacturing, and biomass, requiring investees to adhere to Forest Stewardship Council guidelines. The fund provides both mitigation and adaptation benefits through reforestation, sustainable harvesting, and conservation set-asides. Current investments are located in eSwatini, Gabon, South/Southern Africa, Tanzania, and Uganda, with Botswana, Kenya, and Rwanda identified as potential future markets.

• The Africa Sustainable Forestry Fund II (ASFFII) is a 10-year, USD 150 million blended equity fund managed by Criterion Africa Partners. Its capital structure consists of one commercial senior partner, Calvert Impact Capital, and five concessional subordinate partners who are development finance institutions: the AfDB, BIO (Belgium), EIB, FinDev (Canada), and FMO (Netherlands).
• ASFFII invests in sustainable timber companies focusing on biomass, sustainable downstream manufacturing, and the rehabilitation and expansion of plantations. To ensure sustainability and adaptation benefits, investees must follow Forest Stewardship Council guidelines, and most investments include acreage dedicated to conservation.
• The fund has invested in eight companies across eSwatini, Gabon, South/Southern Africa, Tanzania, and Uganda. Potential future investment locations that meet the fund's criteria include Botswana, Kenya, and Rwanda.

APA

Climate Policy Initiative (2021). Africa Sustainable Forestry Fund II. https://www.climatepolicyinitiative.org/gca-africa-adaptation-finance/case_studies/africa-sustainable-forestry-fund-ii-2/

Chicago

Climate Policy Initiative. Africa Sustainable Forestry Fund II. 2021. https://www.climatepolicyinitiative.org/gca-africa-adaptation-finance/case_studies/africa-sustainable-forestry-fund-ii-2/.

Wikipedia

{{cite report |author=Climate Policy Initiative |title=Africa Sustainable Forestry Fund II |date=16 September 2021 |url=https://www.climatepolicyinitiative.org/gca-africa-adaptation-finance/case_studies/africa-sustainable-forestry-fund-ii-2/ |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{climatepolicyinitiative2021africa, author = {{Climate Policy Initiative}}, title = {{Africa Sustainable Forestry Fund II}}, institution = {Climate Policy Initiative}, year = {2021}, month = sep, url = {https://www.climatepolicyinitiative.org/gca-africa-adaptation-finance/case_studies/africa-sustainable-forestry-fund-ii-2/}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }