Eligibility
Map project risk to available sovereign, DFI, ECA, and multilateral guarantee programs and document additionality.
Guarantees & Credit Enhancement
Risk-sharing instruments that unlock African capital and improve terms
Contact our specialists
Matching project risk to partial risk guarantees, insurance, and first-loss instruments
Coordinating guarantors whose mandates, eligibility, and documentation differ
We structure guarantee and credit enhancement solutions that make projects bankable — working with sovereign guarantors, development finance institutions, African multilaterals, and political risk insurers.
In African project finance the guarantee often is the financing. Partial risk guarantees, political risk insurance, and first-loss tranches from development institutions are frequently what moves a project from uninvestable to bankable — and each provider has its own eligibility rules, documentation, and additionality tests.
Sovereign guarantees, DFI risk-sharing, political risk insurance, and credit enhancement that make African projects bankable.
Guarantees & Credit Enhancement
Risk-sharing instruments that unlock capital and improve terms
Credit enhancement
Guarantee waterfall allocation
How risk is distributed between sponsors, guarantors, DFIs, and commercial capital providers.
Risk allocation
15%
25%
30%
30%
Cumulative allocation of exposure — the four tranches together cover 100% of structured risk.
Services & capabilities
What we deliver
Discuss this advisory pillar with our South African team.
Capability detail
Sovereign guarantees
Advisory on sovereign guarantee mechanisms — eligibility, capacity, and the debt sustainability constraints that govern them.
- 30%+
Cost reduction
Typical improvement in financing terms with guarantees
- 10yr+
Tenor extension
Beyond commercial market limits with credit enhancement
How we've helped
Credit enhancement
Guarantee package for a regional power transmission project
We structured a risk-sharing facility combining sovereign support with development finance guarantees and political risk cover — extending tenor and reducing the weighted cost of capital enough for the project to clear credit approval.
Read moreOur approach
A disciplined approach to capital advisory
We match project risk to the instruments actually available to it — sovereign, multilateral, insurance, and first-loss — then negotiate documentation so the cover responds when it is called.
Design
Structure risk-sharing layers — first-loss, pari passu, partial cover — integrated into the overall financing stack.
Negotiate
Manage term sheets and legal documentation with guarantors and senior lenders to avoid covenant conflicts.
Close & report
Support financial close conditions and ongoing reporting to guarantors through the life of the instrument.
Client outcomes
- Projects that reach financial close with improved terms and longer tenor
- Risk allocated clearly between sponsors, lenders, guarantors, and the state
- Guarantee structures documented to the standards each provider requires
- Lower cost of capital through credit enhancement placed where it counts
Latest insights
Guarantees & Credit Enhancement
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IMPACTSector application
Industries we serve
Infrastructure
Core mandate: structuring bankable infrastructure investments
Electric Power & Natural Gas
Infrastructure finance for energy transition and grid modernization
Financial Services
Advisory for institutional investors and financial intermediaries
Public Sector
Bridging policy objectives with private sector investment capability
Related expertise
Explore other advisory pillars
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Funding & Capital Mobilization
Mobilizing capital for bankable projects, sovereign programmes, and African investment
Risk Management Advisory
Risk intelligence and mitigation for capital-intensive African mandates
Fund Management & Investment Structuring
Investment vehicles built for governance, institutional subscription, and scale
Legal, Securities & Escrow Advisory
Legal, securities, and escrow architecture for African and cross-border investment
Wealth & Asset Management
Preserving and deploying private African capital with institutional discipline
Private Equity Advisory
Deal, holding, and capital structures for African private equity and co-investment
Sovereign & Infrastructure Advisory
Sovereign programmes and infrastructure delivered with institutional discipline
Contact us
Discuss your mandate
Discuss this advisory pillar with our South African team.