14-15 Mar, 2017 - Dar es Salaam, TANZANIA
Hyatt Regency Dar es Salaam, The Kilimanjaro
Hyatt Regency Dar es Salaam, The Kilimanjaro
Old Mutual Investment Group has announced a deal to increase its overall stake in African agriculture investment group, UFF African Agri Investments, to 49%. The partnership builds on the relationship between the two companies, and investment opportunities of up to $500 million into African farmland is predicted over the next three years.
With its specialist expertise and focus on agricultural investment in Africa, UFF African Agri Investments has long been a fund advisor to Old Mutual Investment Group, and the partnership is a natural progression for the two companies.
As the largest manager of real assets in Africa, Old Mutual strongly believes in the potential of agricultural investments across the African continent. While agriculture has gained huge momentum globally, it is still in its infancy in Africa, and presents significant investment opportunities. According to Old Mutual CEO Diane Radley, “Increasing populations across the continent will lead to a significant demand for agricultural produce, with a 70 percent total increase in agriculture production needed to feed the more than nine billion people expected to inhabit the earth in 2050, of which 25 percent will be in Africa.”
The UFF and Old Mutual partnership is a signatory to the Principles of Responsible Investments in farmland. All farms are assessed and monitored on compliance to International Finance Corporations standards on environmental, social and governance standards encompassing standards. In addition, the portfolio’s farms implement a comprehensive education, healthcare and/or housing program, with 6 percent of rental revenues reinvested into social economic projects to benefit farm workers.
Co-founder of UFF, Duncan Vink endorses the partnership, stating that Old Mutual is fully aligned with their vision on the significant opportunities in African agriculture and wanting to make positive change on the continent. He adds, “Agriculture is a vital economic driver in Africa given a number of socio-economic factors, including population growth, poverty and unemployment. These factors present acute challenges and make unlocking our agricultural potential not just an attractive option, but a necessity.”
Find out more about investment opportunities in the farming sector in Africa, at the 5th Commercial Farm Africa.
