Launch of new infrastructure fund for Africa
22 December 2010
A new investment fund dedicated to infrastructure financing in Africa has just been created by Argan Invest, a member of the group FinanceCom.
Argan Infrastructure Fund (ARIF) will invest in several sectors of infrastructure, such as energy, transport and logistics, telecommunications and infrastructure-related industries, reports a press release from Argan Invest published Friday 17 December 2010.
"The impact of infrastructures on the development of emerging markets, economic and demographic growth (…) and the promotion of public-private partnerships are all key factors making infrastructures a new viable asset class within the African continent", explained Mehdi Tahiri, managing director of Argan Invest.
The fund so far holds over 88 million dollars, and aims to reach 236 million dollars.
Forty percent of these investments will be made in Morocco, 30 percent in other countries in North Africa and 30 percent in sub-Saharan African countries.