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South Africa: Investec appointed to manage $670M fund for infrastructures in Africa

2016/05/16

South African assets manager Investec Investment management has been appointed to manage a $670 million fund of Emerging Africa Infrastructure Fund (EAIF), a public-private partnership backed by the governments of UK, Holland, Sweden and Switzerland to finance infrastructure projects in sub Saharan Africa.

The assets manager’s selection results from a call to tender to which additional than 30 firms worldwide took part. This was mainly due to Investec’s expertise in terms investment in Africa. “The large request for funding on the continent and the necessity for effective infrastructure development provides a strong investment backdrop. This offers a compelling entry point into the long-term African increase story. We are very well positioned to take chance of these opportunities with our extensive experience of investing in emerging markets, underpinned by our heritage, which gives us deep insight into the drivers of African markets”, said Nazmeera Moola, a senior executive at Investec Investment Management, who is to chief EAIF’s operations.

Established in 2002, EAIF has injected additional than $1.2 billion in 63 projects in 19 nations. Moreover, in addition to capital provided by the United Kingdom, Holland, Sweden and Switzerland, lenders include some private financial institutions inclunding development-focused financial institutions.

The fund has three major goals, knowingly: to serve as a catalyst for infrastructure projects in Africa, by providing long-term loans and conditioned financing adapted to local needs; investing in sustainable firms that have qualified management teams and proven potential to improve economies and reduce poverty; and by providing opportunities for investment and specific development.

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