ARISE IIP, a leading pan-African developer and operator of world-class industrial parks, has announced a significant capital raise of $443 million.
The funding includes a strategic $300 million investment from Afreximbank’s development impact investment arm, The Fund for Export Development in Africa (FEDA), securing Afreximbank’s FEDA a significant stake in ARISE IIP. Additionally, the capital raise is supported by an additional $143 million contribution from Africa Finance Corporation (AFC). This investment builds on debt funding relationship of over 12 years between ARISE IIP and Afreximbank, during which about $2 billion has been provided to support ARISE IIP’s investments across Africa.
The funds are intended to accelerate ARISE IIP’s fast expansion and operational efficiency across its 12-country portfolio, that comprises key markets such as Malawi, Cameroon, Sierra Leone, Benin, Togo, Ivory Coast, Rwanda, Gabon, DRC, Congo, Chad, and Nigeria.
Gagan Gupta, Founder and CEO of ARISE IIP said about this partnership: “This equity partnership with Afreximbank significantly enhances our financial capacity to execute our pan-African industrial development strategy. It’s a strong vote of confidence in our business model and growth prospects.”
President & Chairman of Board of Directors at Afreximbank, Prof. Benedict Okey Oramah, stated: “We are very pleased with our latest investment in ARISE IIP which is aligned with Afreximbank’s strategic pillars of promoting intra African Trade and facilitating industrialisation and export development across Africa. The capital boost will arm ARISE IIP with the financial muscle needed to drive Africa’s industrialisation, promote intra and extra-African trade, job creation and the general economic growth of our continent.”