ARISE IIP, AFC launch $100m capital pool for African entrepreneurs

ARISE IIP, the pan-African developer and operator of industrial parks, and Africa Finance Corporation (AFC), have announced the signing of a Memorandum of Understanding to establish a dedicated $100 million capital pool for African entrepreneurs who are establishing operations within any of the Arise IIP Special Economic Zones (SEZ) in Africa.

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, according to a statement on Thursday.

It said AFC will also actively seek financing from Export Credit Agencies (ECAs), local and regional financial institutions to mobilise funding to support these companies.

“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,´ Gagan Gupta, CEO of ARISE IIP, said.

Samaila Zubairu, president and CEO of AFC said: “This 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.”