100,000 investor-funded and 15,000 promoter-funded, with US$5.75m of initial capital stated in the teaser.
The fund, the numbers,
and the terms.
The GreenLeaf Africa Climate Fund is a proposed USD-denominated cookstove carbon-credit yield fund focused on rural Zimbabwe. Explore the supplied teaser in detail, including an illustrative unit calculator.
Offer size statedUS$5.0m
Target net IRR23.5%
Risk profileModerate
Target listingVFEX
01 / THE OPPORTUNITY
Clean energy with a proposed carbon-credit income stream.
The fund aims to provide USD-denominated long-term cash yields and capital growth by investing in cookstoves and other clean-energy assets that may generate verified carbon credits. Its stated impact goals include SDG 7 (Affordable and Clean Energy) and SDG 13 (Climate Action).
The strategy is to finance manufacturing, distribution and installation of low-emission cookstoves and solar products in rural Zimbabwe. The teaser says Zimbabwe's carbon-trading regime is governed by SI 48 of 2025.
02 / STRATEGY
From deployment to verified credits.
The teaser says promoter Greenleaf Naturals, in a joint venture with Aither, has deployed these across 102,000 households.
Credit issuance depends on monitoring, independent verification and registry acceptance.
The teaser assumes a 33% government deduction under SI 48, incorporating a 25% community-development allocation.
The teaser names Gold Standard and ZiCMA registries, VERRA certification ambitions, dMRV-supported issuance, Carbon Check as project auditor, and an offtake arrangement with Aither Impact. These are source claims to verify in final documents.
03 / FINANCIAL MODEL
The seven-year central case.
Realised credit price assumedUS$27
Target net IRR23.5% p.a.
DCF NPV incl. terminal valueUS$9.67m
Y1–Y7 distributionsUS$11.31m
Year-7 residual NAVUS$5.20m
The initial cookstoves are modelled over a seven-year life. The teaser projects adjusted revenue rising from US$3.20m in Year 1 to US$3.83m in Year 7. It proposes reinvesting some revenue in new carbon-credit projects, including solar products.
| Measure | Y1 | Y2 | Y3 | Y4 | Y5 | Y6 | Y7 | Total |
|---|---|---|---|---|---|---|---|---|
| Adjusted revenue | 3.20 | 3.30 | 3.40 | 3.50 | 3.61 | 3.71 | 3.83 | 24.55 |
| EBITDA | 2.19 | 2.24 | 2.26 | 2.30 | 2.36 | 2.47 | 2.53 | 16.35 |
| Net profit after tax | 1.47 | 1.51 | 1.54 | 1.58 | 1.64 | 1.75 | 1.82 | 11.31 |
| Cash distribution | 1.47 | 1.51 | 1.54 | 1.58 | 1.64 | 1.75 | 1.82 | 11.31 |
04 / INTERACTIVE CALCULATOR
Explore the teaser's worked example.
Enter a whole number of units. The calculator uses the teaser's US$0.104 price and scales its seven annual payouts for 100,000 units proportionally. It is arithmetic on an illustrative central case, not a forecast or a subscription.
Estimated amount paidUS$10,400Illustrative seven-year cash distributionsUS$17,420
The teaser gives conflicting minimums. The 1,000-unit example costs US$104; confirm the applicable minimum and eligibility in the final offer documents.
| Year | Cash to you |
|---|---|
| Year 1 | US$2,260 |
| Year 2 | US$2,336 |
| Year 3 | US$2,364 |
| Year 4 | US$2,438 |
| Year 5 | US$2,530 |
| Year 6 | US$2,699 |
| Year 7 | US$2,793 |
| Total | US$17,420 |
The example excludes any change in a unit's open-market price. Actual credit prices, project output, expenses, taxes, timing and distributions may differ materially.
05 / HOW IT WORKS
Three steps in the proposed model.
Finance the stoves
Investor and promoter capital funds an initial 115,000 fuel-efficient cookstoves for rural Zimbabwean households at no charge to them.
Measure the reductions
Stove use is monitored and emissions savings are reviewed by auditors and relevant registries before credits can be issued.
Sell credits and distribute profit
The central case assumes US$27 per credit and a policy to distribute 100% of net profit after tax annually to unit holders, subject to realised results.
06 / INVESTMENT CASE
Why the teaser says this fund is different.
The teaser points to recurring USD carbon-credit revenue, climate and health benefits, alignment with Zimbabwe's NDS2, the promoter's cited operating record, registry activity, and independent project auditing.
It also proposes VFIFSC registration before a VFEX listing, a target listing date of 30 June 2027, and market-making by the sponsoring broker. These are plans, not completed outcomes or assured liquidity.
07 / KEY TERMS
Offer and fund structure.
ClassificationAlternative investment
Risk profileModerate (teaser label)
Year of launch2026
Pre-listing unit priceUS$0.104
Initial target fund sizeUS$6.5m
Offer50 million units; teaser also states US$5.0m
Target exchange and dateVFEX · 30 June 2027
Fund structureCollective Investment Scheme; teaser cites SECZ101167S
Management fee1% p.a. of NAV
Trustee and custodial fee0.5% p.a. of NAV
Distribution policy100% of net profit after tax annually
Target investorsIndividual, institutional, local and foreign investors
The teaser says a US$100 minimum in its key terms and US$104 for individuals / US$1,000 for companies in its worked example. These values require confirmation.
08 / RISK PROFILE
Critical dependencies.
Revenue is materially dependent on voluntary carbon-credit prices, which can change with market sentiment, methodology revisions and reputational events. Project delivery, stove adoption, verification, registry approval, offtake, regulation and exchange listing may not occur as projected.
The teaser describes a moderate risk profile, but that label does not remove the risk of capital loss. A VFEX listing and market maker are targets, and unit liquidity is not guaranteed. Seek independent advice and review final approved documents.
09 / FUND CONTACTS
Partners
Ingenium Capital P/L
37 Canterbury Road, Kensington, Harare, Zimbabwe
+263 242 255 540–2 · +263 772 620 500
thandeka@ingeniumadvisory.co.zwlangton@ingeniumcapital.co.zwingeniumcapitalzim.co.zwRedwood Asset Management P/L
106 McChlery Ave, Eastlea, Harare, Zimbabwe
+263 773 590 809 · +263 779 888 456
makanatsa@redwood.co.zwfarai@redwood.co.zwredwood.co.zwKreston Zimbabwe Trustees
Ground Floor, Block A, Smatsatsa Office Park, Borrowdale, Harare, Zimbabwe
+263 8677193651 · +263 (242) 746 783/569
cmachingambi@krestonzim.comandambakuhwa@krestonzim.comkrestonzim.comZB Transfer Secretaries
21 Natal Road, Avondale, Harare, Zimbabwe
+263 8677002001 · +263 242 774290 · +263 773 140 140
pmberikwazvo@zb.co.zwzb.co.zwREADY TO LEARN MORE?
Request information Ask for the final documents.
Confirm current terms and source figures with the Fund Manager.