The Economist Corporate Network’s Africa director says national governments can play an important role in creating opportunities for private equity investments in Africa’s food and agriculture sectors.
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It’s the latest among a slew of African countries falling victim to the pest, which has emerged in regions already plagued by drought and wheat rust outbreaks.
With commitments from four new investors – among them AXA and KBC – the impact investor has raised a total of $140m for its agRIF fund.
OPIC has committed up to $75 million to the fund manager’s second agricultural fund, which like its predecessor will target the food and FMCG value chain in sub-Saharan Africa.
The investment was made from 8 Miles’ first fund, Fund I A, which closed in August 2013 on roughly $200 million, sources confirmed to Agri Investor.
The new line of credit will finance LDC’s working capital needs in eight countries in Eastern Europe and North Africa.
The new loan will go towards irrigation, transport, research and technology with a view to increasing productivity.
The South African hedge fund plans to invest in farms and processing companies from a fund targeting returns of between 8 and 12 percent.
South Africa’s agricultural sector has shown consistent improvement, but controversial land reform could hurt capital investment, according to Agbiz.
EXEO co-founder Herman Marais tells Agri Investor about drivers of African food demand growth and specific markets and subsectors he sees as most promising in the region.