The Emerging Africa Infrastructure Fund appoints Investec Asset Management as fund manager

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
The Emerging Africa Infrastructure Fund appoints Investec Asset Management as fund manager

Following a competitive tender process that brought interest from over 30 companies, from across Europe, Africa and North America, the Emerging Africa Infrastructure Fund Limited (EAIF) has appointed Investec Asset Management (IAM) as its US$670 million fund manager.

The fund is a member of the Private Infrastructure Development Group, and is funded by the governments of the UK, The Netherlands, Sweden and Switzerland, private sector banks and development finance organizations.

Established in 2002, it provides debt finance to private sector infrastructure projects in sub-Saharan Africa. To date, it has committed over US$1.2 billion to 63 projects in 20 countries.

The fund aims to achieve three main objectives:

  • To catalyze African infrastructure projects through providing long- term debt and mezzanine finance on commercial terms tailored to local needs.
  • To invest in sustainable businesses with skilled management teams and clear potential to improve economies and help reduce poverty.
  • To deliver on both investment and specific development goals.

IAM, launched in South Africa in 1991, will manage the entire process for EAIF, from seeking out projects, evaluating loan applications, carrying out due diligence and managing the administration of transactions. It will also market the fund internationally and monitor the loan portfolio.

David White, Chair of EAIF, Commenting on IAM’s appointment, said:

“We were impressed with IAM’s determination and agility, its commitment to our core mission and its belief in a successful future for Africa. The appointment of IAM as the fund’s manager means that we now have the final element in place to power our growth strategy. Africa is Investec’s home territory. From African roots it has built a dynamic business and a demonstrable track record as a good corporate citizen. “

Hendrik du Toit, CEO, Investec Asset Management, explained:

“The private sector has a crucial role to play in unlocking the conditions for the sustainable, long-term development of Africa’s infrastructure. A major initiative of its kind globally, EAIF provides growth capital, expertise and support to projects, with the aim of stimulating economic development, encouraging growth and employment, and fueling Africa’s long-term development.”

Nazmeera Moola, Co-Head of Africa Fixed Income at Investec Asset Management, who will head EAIF operations, added:

“The large demand 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 growth story. We are very well positioned to take advantage 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.”

List of country news

Country news

  • May 06, 2016

    Tender launched for two port terminal PPPs in South Africa

    Transnet National Ports Authority, a division of Transnet SOC Ltd, which provides freight transport and logistics services in South Africa, has launched Request for Proposals (RFP) for facilities at the port of Durban and at the port of Saldanha. Read more
  • April 29, 2016

    Kopanong Precinct tenders buildings PPP

    The National Treasury Department of the Republic of South Africa, through the Gauteng Infrastructure Financing Agency, has recently launched the Request for Pre-Qualification phase for the Kopanong Precinct PPP project to be located in Gauteng Province. Read more
  • April 08, 2016

    Alstom completes acquisition of South African rail company CTLE

    Alstom has completed the acquisition of 51% share in South African rail company CTLE (Commuter Transport & Locomotive Engineering), specialized in the modernization of trains, from CTE and IDC which remain shareholders. Read more
  • April 05, 2016

    Public-Private Partnership training programme for watershed Southern African Hydro-Power Project to take place in Centurion

    In many African countries today, public sector deficits matched by a myriad of competing demands impede funding for infrastructure development. Public-Private Partnerships (PPPs) have emerged over the last decade as an innovative way to mobilize finance, enhance efficiency and improve ownership of projects. PPPs have been particularly successful in economic (physical) infrastructure, such as power, transport, telecommunications, water and sanitation. Read more
  • March 31, 2016

    Chadbourne expands energy and infrastructure team in South Africa

    Chadbourne & Parke LLP has announced that energy and infrastructure lawyer Deon Govender has joined its Johannesburg office as an international partner. Read more

Share this news

Join us

In order to get full access to News section, you must have a full subscription. You can check all the benefits of becoming a member and purchase a subscription on our membership page.