Sanlam Alternative Investments Takes 10% Stake in GreenCo with $10 Million Investment

TL;DR: Sanlam Alternative Investments acquired a 10% stake in GreenCo for $10 million, becoming the firm’s first private institutional shareholder. The deal adds to Sanlam’s over ZAR 17 billion (~$1 billion) committed to African sustainable infrastructure in the past decade.

GreenCo operates as a renewable energy trader and buyer across the Southern African Power Pool (SAPP), providing bankable long‑term offtake agreements with independent power producers and power sale agreements to mines, commercial users and utilities. Its model also includes continuous regional trading and active portfolio optimisation, which together reduce counterparty risk for generators and deliver lower‑carbon power to consumers.

Sanlam Alternative Investments has deployed more than ZAR 17 billion (~$1 billion) into 40 sustainable infrastructure projects across Africa over the last ten years through funds such as its Sustainable Infrastructure Fund. The unit is part of Sanlam Ltd, listed on the Johannesburg Stock Exchange under ticker SLM.JO, which holds a market capitalisation of roughly ZAR 200 billion ($10.5 billion) and has seen its share price trade between ZAR 65 and ZAR 72 over the past six months, a year‑to‑date gain of about 4%.

Pug Bennet, GreenCo co‑founder and group CFO, said the investment supports scaling bankable offtake and low‑carbon power for regional users, noting that GreenCo was built on the belief that Africa should finance its own energy transition.

The transaction gives Sanlam a foothold in a platform that aggregates renewable supply and demand across SAPP, potentially increasing the volume of bankable contracts available to new generation projects. For GreenCo, the capital enables expansion into new markets such as the Democratic Republic of Congo and deeper participation in the emerging South African Wholesale Electricity Market.

Watch for GreenCo’s next funding round, any follow‑on commitments from Sanlam, and the impact of increased offtake capacity on regional power prices and renewable project finance.