ARISE IPP raises US$443 catalyse industrial transformation across Africa

ARISE IIP, a pan-African developer and operator of industrial parks, has announced a significant capital raise of US$443mn

The capital was primarily attained through a US$300mn investment from The Fund for Export Development in Africa (FEDA), Afreximbank’s development impact investment arm, and a US$143mn contribution from Africa Finance Corporation (AFC).

“This equity partnership with Afreximbank significantly enhances our financial capacity to execute our pan-African industrial development strategy,” commented Gagan Gupta, founder and CEO of ARISE IIP. “It’s a strong vote of confidence in our business model and growth prospects.”

As a result of this development, ARISE IPP’s total equity capital now exceeds US$1bn. The funds are intended to accelerate its fast expansion and operational efficiency across its 12-country portfolio and are aligned with the entities’ objective to catalyse industrial transformation across the continent.

President & chairman of board of directors at Afreximbank, Benedict Okey Oramah, remarked, “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.”

Samaila Zubairu, president & CEO of AFC, added, “Our journey towards capturing greater value within the continent, by converting raw materials into intermediate and finished goods, has already shown significant progress in three countries, with an expanding pipeline of projects in ten more. This success reinforces our commitment to further support and invest in this important initiative, including our latest equity investment of US$143mn.”