ARISE IIP and Africa Finance Corporation launch US$ 100M capital pool for African entrepreneurs
Lagos, 19th July 2024 – ARISE IIP, the pan-African developer and operator of world-class industrial parks, and Africa Finance Corporation (AFC), the leading infrastructure solutions provider in Africa, today announced the signing of a Memorandum of Understanding to establish a dedicated US $100 million capital pool for African entrepreneurs who are establishing operations within any of the Arise IIP Special Economic Zones (SEZ) in Africa.
At the heart of this partnership is a shared vision to uplift African entrepreneurs by providing them with much needed financing and advisory services to catalyse growth. AFC will also actively seek financing from Export Credit Agencies (ECAs), local and regional financial institutions to mobilise funding to support these companies. This concerted effort underscores ARISE IIP and AFC’s commitment to fostering industrialisation, job creation and economic prosperity in Africa.
Under this partnership, AFC’s comprehensive suite of financial services will extend beyond financing to include financial advisory support for corporate finance, equipment financing and market entry including assisting with joint ventures and technical partnerships for sponsors that may require it, to ensure they are well-equipped to seize opportunities and thrive within the SEZs. By tapping into AFC’s extensive network and expertise, ARISE IIP aims to cultivate a vibrant ecosystem that nurtures entrepreneurship and drives sustainable economic development across the continent.
Gagan Gupta, CEO of ARISE IIP said about this partnership: “ARISE IIP is about empowerment. By empowering our customers, and ensuring they have the robust financial support needed to meet their operational objectives, this collaboration with Africa Finance Corporation, our long-lasting partner, takes us one step closer to realising our vision of an industrialised and prosperous Africa.”
Samaila Zubairu, President & CEO of AFC said: “This partnership marks a significant milestone in our commitment to offer strategic financial advisory and corporate finance services to firms focused on value capture and import substitution projects in Africa. By collaborating with our investee company Arise IIP and African entrepreneurs in our Special Economic Zones, we aim to foster an ecosystem that will increase trade, create jobs, and drive economic advancement on the continent.”
About Africa Finance Corporation
Africa Finance Corporation (AFC) was established in 2007 to be the catalyst for pragmatic infrastructure and industrial investments across Africa across Africa. AFC’s approach combines specialist industry expertise with a focus on financial and technical advisory, project structuring, project development, and risk capital to address Africa’s infrastructure development needs and drive sustainable economic growth.
Seventeen years on, AFC has developed a track record as the partner of choice in Africa for investing and delivering on instrumental, high-quality infrastructure assets that provide essential services in the core infrastructure sectors of power, natural resources, heavy industry, transport, and telecommunications. AFC has 43 member countries and has invested US$13 billion across Africa since inception.
About ARISE IIP
ARISE Integrated Industrial Platforms (ARISE IIP) is a pan-African developer and operator of world-class industrial parks committed to making Africa thrive. We identify opportunities in commercial and industrial value chains across Africa, and conceive, finance, build and operate the necessary infrastructure, playing a catalytic role in supporting countries to transition to an industrial economy. We are driven by the pursuit of green growth; our ambition is to unlock the continent’s industrial potential while neutralising our carbon emissions and climate impact. ARISE IIP currently operates in 11 countries, including Benin (GDIZ), Togo (PIA), Gabon (GSEZ), Cote d’Ivoire (ZIC), Nigeria (IPRFZ), Republic of Congo (PIC), Democratic Republic of Congo (CIP), Sierra Leone (SIZ), Malawi (MIP), Rwanda (BSEZ), and Chad.
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Yewande Thorpe
Communications – Africa Finance Corporation
yewande.thorpe@africafc.org
+234 1 279 9654
Audrey Mebaley
Global Head of Communications – ARISE IIP
audrey.mebaley@arisenet.com