THE Africa Super League was launched in Tanzania this week amid much fanfare, with huge prize money for the 24 clubs who qualify for the first edition next year.
SOUTH Africa's Public Investment Corporation (PIC) plans an inaugural US$100 million (N$1,6 billion) investment in the Africa Finance Corporation (AFC), which is a catalyst for private sector-led infrastructure investment across Africa.
AFC has an AAA investment-grade rating from ratings agency Moody's. Its investment footprint spans 35 countries across Africa, and it has a pipeline of projects that blend positive social and environmental impact.
For example, AFC recently announced its joint acquisition of Lekela Power, Africa's biggest renewables independent power producer, with plans to more than double operating capacity of the operating assets within four years.
The AFC does not have any investments in Namibia yet.
Kabelo Rikhotso, the corporation's chief investment officer, said, “PIC is delighted to partner with AFC in the development, industrialisation and growth of the African continent [...] Our clients' investment mandates allow us to invest in the rest of the African continent. We believe this partnership will assist us to deliver on that mandate and to diversify our growing portfolio”.
PIC, which is Africa's largest asset manager with more than US$150 billion in assets under management, said as a shareholder it would further benefit from co-investment opportunities and access to AFC's formidable project development and risk-mitigated projects on the continent across the power, transport and logistics, natural resources, telecommunications and heavy industrial sectors.
Samaila Zubairu, AFC president and chief executive said, “This equity investment is a significant vote of confidence in AFC and connects us to a very important source of capital in Africa. African pension funds have a key role to play in financing the instrumental infrastructure urgently needed on the continent and we look forward to a long-term partnership for a prosperous African future.” – IOL News