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The African Agriculture Fund (AAF), managed by Phatisa, has concluded an agreement to invest up to US$ 10.5 million in Feronia Inc. (Feronia) in the Democratic Republic of the Congo (DRC). Feronia’s operations consist of three palm oil plantations: Yaligimba, Boteka (both situated in Equateur Province), Lokutu (located in Orientale Province) and a commercial arable farm in Bas Congo Province.
The African Agriculture Fund, managed by Phatisa was announced the Investment Climate Initiative of the Year for 2012.
The African Agriculture Fund (AAF), managed by Phatisa, has concluded an agreement to make a total investment of US$ 24 million in Golden Lay Limited, a company involved in the production, distribution and sale of chicken table eggs - located in the Copperbelt Province of Zambia. The deal team structured and negotiated a leveraged management buyout transaction that will result in the exit of Aureos. AAF will invest alongside the management in a combination of mezzanine and equity funding...
In preparation for the G8 meeting - G8 DFIs, including an OPIC delegation, headed by Elizabeth Littlefield, met in Paris, France on the 23 April 2012. The purpose of the meeting was to contribute to the New Alliance for Food Security in Africa - a new alliance on food security with African leaders and the private sector as part of an effort to lift 50 million people out of poverty over the next decade, announced by President Obama and G8 leaders, Camp David Summit, 18 - 19 May 2012.'Affordable housing development is really constrained by lack of housing developers which answer to the requirements such as capital, capacity and available land. There is high demand on risk capital to assist to develop the supply of affordable housing. Shelter Afrique has sponsored the Pan African Housing Fund (PAHF) to help the development of affordable housing...'
The AAF SME Fund first closes at US$ 30 million, Press release, February 2012 (PDF 193 KB)
The AAF SME Fund has achieved a first closing at US$ 30 million. This is an independently managed sub-fund of the African Agriculture Fund (AAF), Africa’s first private equity fund focused solely on food production throughout the continent. The launch of this niche private equity fund represents a milestone for the development of Africa’s small and medium sized enterprises (SMEs) linking local enterprise with international sources of finance.
Technical Assistance Facility for the African Agriculture Fund is launched, TechnoServe press release, October 2011
The African Agriculture Fund invests in Sierra Leonean palm oil, Press release, October 2011
The African Agriculture Fund (AAF), managed by Phatisa, has concluded an agreement and commenced drawdown to invest US$ 10 million alongside the Finnish Fund for Industrial Cooperation Limited (FINNFUND) and the Company’s Sponsors, in Goldtree a palm oil plantation and milling company, representing a total investment of US$ 20 million.
> press announcement, October 2011 (PDF 129 KB)
> communiqué de presse, Octobre 2011 (PDF 151 KB)
"...An extended age of consumerism looks promising not only for the farmers looking to supply produce to a growing and urbanising world population, but through some clever financial engineering, retail investors can take advantage ot this trend too..."
The African Agriculture Fund (AAF), a private equity fund designed to respond to the food crisis that severely impacted the continent in 2008 in the wake of escalating food prices, reached its first closing at US$ 135 million in November 2010.
The Spanish Council of Ministers approved a capital contribution of US$ 40 million from the Development Assistance Fund (Fondo de Ayuda al Desarrollo) to the African Agriculture Fund - Spain, August 2010
'We are working actively to ensure a co-ordinated approach nationally, regionally and globally, while maintaining our focus on country-led initiatives. We are pleased with the launch of the Global Agriculture and Food Security Program hosted at the World Bank, which has $880 million in commitments, and other mutually complementary initiatives or mechanisms, such as the African Agriculture Fund. We underline the critical importance of accountability for ensuring that these collective commitments are met.' Extract from note 16, Food security
New board member brings extensive African investment experience, CDC, June 2010
CDC Group plc (UK development finance institution) announced the appointment of Valentine Chitalu, Phatisa Chairman as a Non-executive Director.
France is to set up a US$ 120 million fund to help Africa's agriculture industry and the investment could end up totalling US$ 300 million, a communique from the 25th Africa-France summit said on Tuesday. The fund will support the development of African farming projects, the communique added. The Africa-France summit has been held since 1975. France is looking to claw back some of its historical economic influence in the continent given the emergence of new rivals such as China, which has become Africa's biggest trade partner. Reporting by John Irish. Copyright 2010 Thomson Reuters. All rights reserved.
Destiné au secteur privé, le Fonds pour l’agriculture africaine sera lancé en juillet avec plus de 100 millions d’euros apportés par une multitude d’acteurs de la finance. Lire l'article sur Jeuneafrique.com : Banques : après la crise | La terre attire les financiers | Jeuneafrique.com - le premier site d'information et d'actualité sur l'Afrique.
Addressing challenges and opportunities in Africa, 3rd annual unquote", South Africa Private Equity Congress, February 2010
'Africa provides tremendous investment opportunities, but success is reliant - amongst other things, on good local knowledge generated through a strong local presence,' said Stuart, as he concluded the panel discussion on Thursday afternoon.Ghana hosts the Seventh Africa Investment Forum as the continent aims for renewed growth, February 2010Accra played host to investors and government leaders from over 30 countries at the Africa Investment Forum, Accra International Conference Centre, 8 - 10 February 2010. The Africa Investment Forum provides a platform for countries to profile investment opportunities in sectors including energy, agriculture infrastructure and manufacturing to an international audience of 500 business leaders, just as the continent prepares for renewed growth in the wake of the global downturn. The annual Forum, organised by the Commonwealth Business Council (CBC) and the Ghana Investment Promotion Centre (GIPC), focused on the theme 'Accelerating Intra-African Trade and Investment'. The Chairman of the Phatisa, Valentine Chitalu on invitation of CBC joined presenters from Investment Promotion Agencies across Africa. In addition to showcasing African investment opportunities and intra regional trade, the Forum also feature specific discussions on key topics, such as; 'Investing in Agriculture and Improving Food Security'.
World Bank/International Monetary Fund Annual Meetings, Istanbul, Turkey, October 2009Phatisa, Fund Managers of the African Agriculture Fund (AAF), was invited by Jean-Michel Severino, Director General of Agence Française de Développement (AFD) and his team to host a side event focused on African agriculture at the 2009 Annual Meetings of the World Bank and International Monetary Fund.Vincenzo Galastro, Programme Manager in the External affairs department of the International Fund for Agriculture (IFAD), was in Brussels for the 13th Development Briefing examining challenges and opportunities for SMEs in agriculture in ACP countries, talked about the African Agriculture Fund, the organisations behind it and how it works.
> additional video clip (Web link 4'24")