Printer Friendly

AfDB approves US$10 million equity investment in PFF2.

Abidjan: The African Development Bank Group (AfDB) Board of Directors gave approval to US$10 million equity investment in Phatisa Food Fund2 (PFF2) to boost agriculture and nutrition across Africa.

Phatisa, PFF2s fund manager, is a South-Africa based private-equity, corporate finance and advisory company operating across Africa, incorporated in January 2008 as a limited company in Mauritius. PFF2 is a second generation Fund which builds on the success of its predecessor African Agriculture Fund (AAF), sponsored by AfDB along with other DFIs including the French Development Agency (AFD), the International Fund for Agricultural Development (IFAD), and the Spanish Agency for International Cooperation and Development (AECID).

PFF2 is targeting a capitalization of US$ 300 million to invest across Africa with a focus on Sub-Saharan Africa. "Phatisa" is Xhosa word for "helping to carry." It is projected to cover the entire African continent, with a sharper focus on Sub-Saharan Africa, relying on its presence in South Africa, Kenya, and Zambia, Mauritius and London and a new office opening in Cote d'Ivoire.

Presently, the Fund targets average investment amounts of US$ 20 million in Cote d'Ivoire, Ghana and Nigeria in West Africa; Kenya, Tanzania and Uganda in East Africa and Mozambique, Malawi, Zambia and Zimbabwe in southern Africa. PFF2 will focus on food/consumer related investments including integrated food production, processing, services and inputs (seed, fertilizer & chemicals), mechanization, distribution, logistics and infrastructure, packaging, food services and retail.

COPYRIGHT 2018 Plus Media Solutions
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2018 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Daily the Pak Banker (Lahore, Pakistan)
Geographic Code:60SUB
Date:Jan 5, 2018
Words:234
Previous Article:Programme important pipeline of skills for AfDB.
Next Article:AfDB supports Cameroon's loan.
Topics:

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters