Coverage: The Meridian legal market record (editorial).
Climate Fund Managers, owned by FMO and Sanlam InfraWorks, secured approval for US$140 million of catalytic financing from the Green Climate Fund. It supports industrial decarbonisation in South Africa and Namibia through Climate Investor Three (CI3). Approval came at GCF’s 46th Board meeting and forms part of the Southern African Industrial Decarbonisation Facility. DBSA acts as GCF Accredited Entity. US$84 million goes to South Africa’s SA-H2 Fund construction equity tranche. US$56 million goes to Namibia’s SDG Namibia One Fund (US$15m development, US$41m construction equity). It builds on EUR150 million of CI3 commitments from Invest International and the European Commission. SA-H2 reached a ZAR3 billion first close in August 2026 with PIC, Sanlam Life, IDC and DBSA. No advisers are named.
Value (as reported): US$140 million.
Parties: Funder: Green Climate Fund; Recipient: Climate Fund Managers (CI3); Accredited entity: DBSA; Funds: SA-H2 Fund, SDG Namibia One Fund.
Jurisdiction (as reported): South Africa / Namibia · Sector (as reported): Climate finance / Green hydrogen.
Source: LinkedIn firm publication, posted 31 October 2026. Meridian record LI-DL-2026-0299.
