AfDB in a Moroccan investment fund
First equity commitment of the bank with a Moroccan Fund Manager which is Infra Invest, a subsidiary of Argan Invest.
The African Development Bank (AfDB) formalized last Wednesday in Rabat, its equity commitment in a Moroccan investment fund of 66 million euros, more than 729 million DH. The bank made a contribution of 15 million euros (nearly 166 million DH). A shareholders’ agreement has been signed between the organization and Infra Invest, a subsidiary of Argan Invest (the investment fund management platform of the FinanceCom Group).
“The AfDB generally engages in infrastructure projects with state agencies. This is the first equity commitment of the bank with a Moroccan investment fund management team.” says Amani Abou-Zeid, AfDB representative in Morocco.
The fund Argan Infrastructure Fund (ARIF) is dedicated to infrastructure investments in North Africa and sub-Saharan Africa for a duration of 12 years.