The East African
Tuesday February 23 2021
2021 looks promising with projections of significant volumes of FDI returning to emerging markets in Africa. PHOTO | FILE
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Although 2020 witnessed unprecedented outflows of foreign direct investments due to the uncertainties created by Covid-19, 2021 looks promising with projections of significant volumes of FDI returning to emerging markets in Africa.
According to Faizal Bhana, director of Jersey Finance in the Middle East and Africa, the African continent remains a highly attractive market, particularly for inbound investment.
“In recent years, Africa escaped the global decline in foreign direct investment as flows to the continent rose to Ksh4.6 trillion ($41.82 billion, an increase of 11 per cent on the previous year according to the UNCTAD’s World Investment Report of 2019,” said Mr Bhana.
Phatisa Food Fund 2 reaches $143 million final close from DFI commitments
4th February 2021, Montreal - A group of leading development finance institutions (DFIs) and impact investors – CDC Group, Norfund, Finnfund, FinDev Canada and BIO – announce an $82 million joint commitment to Phatisa Food Fund 2 (PFF 2 or the Fund), managed by Phatisa. PFF 2 will invest across the African food value chain, considering investments in mechanisation, inputs, poultry and meat production, food processing and manufacturing, logistics, aggregation and distribution across Sub-Saharan Africa. The investment will strengthen and increase food supply, local production and distribution across the region.
A consortium of investors, consisting of CDC, Norfund, Finnfund, FinDev Canada, and BIO committed to the Fund’s final close, $30m, $20m, $15m, $10m and $7m, respectively. The Fund has reached a final close of $143m, bringing DFIs and commercial investors together to boost the supply of qual
(Bloomberg) Private-equity fund manager Phatisa Group raised $143 million for Africa’s burgeoning agricultural sector to boost supply of food such as poultry and meat as demand on the continent grows.
Investors in the Phatisa Food Fund 2 LLC include a consortium comprising the U.K.
Loni Prinsloo and Bella Genga, Bloomberg News
(Bloomberg) Private-equity fund manager Phatisa Group raised $143 million for Africaâs burgeoning agricultural sector to boost supply of food such as poultry and meat as demand on the continent grows.
Investors in the Phatisa Food Fund 2 LLC include a consortium comprising the U.K.âs CDC Group, Norfund AS, FinDev Canada, BIO and Finnfund that have contributed $82 million in joint commitments and commercial backers.
The fund seeks âto boost the supply of quality food in sub-Saharan Africa where an estimated 239 million people are affected by food insecurity,â according to a joint statement issued by Phatisa and the consortium.