Emerging Africa Infrastructure Fund plans to raise as much as $500 million (R8.5 billion) over the next three years to invest in infrastructure projects on the continent. | Fin24
The EAIF needs the new capital to embark on its next growth phase, said Martijn Proos, director at London- and Johannesburg-listed firm Ninety One, which manages the fund. “We are open to Africa, we are open for business where there are good opportunities,” he said in an interview.
In an effort to bolster interest from investors, Proos said the fund this week received its first-ever credit rating, from Moody’s Investors Service -- a foreign currency long-term issuer rating of A2 with a stable outlook.
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