Project Overview

MGF supported the Investment Mobilisation Collaboration Alliance (IMCA) to design and manage the Adaptation Finance Window for Africa (AFWA), a competitive window launched at COP30 to deploy €40 million in catalytic capital into innovative, high impact investment vehicles positioned to mobilize at least €100 million in private investment for adaptation and resilience across Africa. 

Our role spanned market sounding, window design, market engagement, application management, selection and evaluation, due diligence support, and market insights, helping translate donor objectives and investor realities into a practical process for selecting investment strategies with strong adaptation impact and mobilization potential. 

Our Work

• Market Sounding & Design. Conducted market sounding with fund managers and investors to shape AFWA’s priorities, catalytic support, and application requirements. 
• Launch & Market Engagement. Designed the technical specifications of the window and launched the AFWA website, alongside targeted engagement with investment managers across the market. 
• Window Management & Evaluation. Managed the competitive process, reviewing 56 eligible investment strategies and supporting evaluation, selection, and due diligence with IMCA partners. 
• Market Insights & Learning. Developed the AFWA Market Insights Dashboard to turn applicant data into insights on sectors, geographies, vehicle structures, and mobilization approaches.