Afreximbank in talks to acquire stake in OLAM-backed industrial fund Arise IIP
African Export-Import Bank could soon buy shares in one of three funds dedicated to investments in Africa owned by Indian-Singaporean agrifood business Olam.
In the midst of striking up new partnerships with foreign companies such as Olam and seeking new shareholders, the public-private bank Africa Finance Corp has suffered a setback at the hands of Moody's. The poor rating it received in May has been hampering its ambitious expansion plans.
After setting up Arise Port & Logistics with AP Moller, then Arise Infrastructure, to invest in roads, agricultural trading giant Olam has created a third brand dedicated to industrial free zones. Arise Industrial is preparing to make its first investment in Ivory Coast.