ARISE IIP, AFC Launch US$100m Capital Pool for African Entrepreneurs
ARISE IIP, and Africa Finance Corporation (AFC) have announced the signing of a Memorandum of Understanding to establish a dedicated US $100 million capital pool for African entrepreneurs.
In an official statement, ARISE said the capital pool is for African entrepreneurs that are establishing operations within any of the Arise IIP Special Economic Zones (SEZ) in the region.
At the heart of this partnership is a shared vision to uplift African entrepreneurs by providing them with much needed financing and advisory services to catalyse growth, the statement reads.
The statement stretched that AFC will also actively seek financing from Export Credit Agencies (ECAs), local and regional financial institutions to mobilise funding to support these companies.
“This concerted effort underscores ARISE IIP and AFC’s commitment to fostering industrialisation, job creation and economic prosperity in Africa”. Under this partnership, Arise said AFC’s comprehensive suite of financial services will extend beyond financing.
AFC will provide financial advisory support for corporate finance, equipment financing and market entry including assisting with joint ventures and technical partnerships for sponsors that may require it, to ensure they are well-equipped to seize opportunities and thrive within the SEZs.
By tapping into AFC’s extensive network and expertise, ARISE IIP said it aims to cultivate a vibrant ecosystem that nurtures entrepreneurship and drives sustainable economic development across the continent.
Speaking about the agreement, Gagan Gupta, CEO of ARISE IIP said, “ARISE IIP is about empowerment. By empowering our customers, and ensuring they have the robust financial support needed to meet their operational objectives, this collaboration with Africa Finance Corporation, our long-lasting partner, takes us one step closer to realising our vision of an industrialised and prosperous Africa.”
Also, Samaila Zubairu, President & CEO of AFC stated that the partnership marks a significant milestone in our commitment to offer strategic financial advisory and corporate finance services to firms focused on value capture and import substitution projects in Africa.
“By collaborating with our investee company Arise IIP and African entrepreneurs in our Special Economic Zones, we aim to foster an ecosystem that will increase trade, create jobs, and drive economic advancement on the continent.” #ARISE IIP, AFC Launch US$100m Capital Pool for African Entrepreneurs
