Latest news with #AriseIIP
Zawya
6 days ago
- Business
- Zawya
The African Development Bank approves an investment of US$100 million in Arise Integrated Industrial Platforms Limited.
The Board of Directors of the African Development Bank ( has approved an investment of $100 million in the industrial platform developer and operator Arise Integrated Industrial Platforms Ltd (Arise IIP) to contribute to funding industrial parks and special economic zones across Africa as a part of our industrialization strategic priority and flagship Special Agro-Industrial Processing Zones (SAPZ). The industrial platforms developed and operated by Arise IIP are primarily dedicated to supporting the transformation of key agricultural and industrial value chains in African countries that are leading global suppliers of raw commodities but have limited local processing capabilities. The platforms will provide developed industrial land, shared infrastructure and utilities, good export connectivity and simplified administrative procedures to agro-industrial tenants, allowing them to relocate global supply chains and value addition within African countries, while contributing to the reduction of carbon footprint of trade flows. Arise IIP seeks to replicate its successful industrial platform implementation experience in Gabon, Togo and Benin by establishing Special Economic Zones across other African countries with the aim of improving Africa's export competitiveness and intra-Africa trade strategies. ' There is economic and social value to be added to African-grown commodities like timber, cashew, cocoa and cotton when they are processed locally instead of being exported in raw form. Through programs like the African Development Bank's Special Agro-Industrial Processing Zones and investments in Zones partner companies like Arise IIP, we enable transformative, private sector-led agro-industrialization that boosts local processing of commodities, creates jobs and grows rural economies,' said Dr. Beth Dunford, the African Development Bank's Vice President for Agriculture, Human and Social Development. Based on Arise IIP's existing portfolio in Gabon (Gabon Special Economic Zone - GSEZ), Benin (Glo Djigbe Industrial Zone - GDIZ) and Togo (Plateforme Industrielle d'Adetikope - PIA), it is estimated that over 400 companies have been on-boarded from 47 industry sectors, which has led to the creation of over 50,000 jobs. The dominant sectors include wood, glass, soya, cashew processing, cotton processing and textiles, ceramics, beverages, pharmaceuticals and meat processing. It is also estimated that over $7 billion has been mobilized by tenant companies within the existing zones. ' This investment in ARISE IIP is a signal of the Bank's commitment to scaling up industrialization in Africa in value chains where we are competitive. This is also a demonstration of the strategic partnership we have with African MFIs such as the Africa Finance Corporation (AFC) and the Fund for Export Development in Africa (FEDA), the Afreximbank's equity impact investment arm, who are the principal equity investors in ARISE IIP. This is a good demonstration of our joint goals of making Africa's capital work better for Africa's development ', said Solomon Quaynor, African Development Bank's Vice President for Private Sector, Infrastructure and Industrialization. Gagan Gupta, CEO of Arise IIP, remarked, " The African Development Bank's investment highlights their confidence in our model as a driver of Africa's industrial growth. We are excited to strengthen our efforts in transforming local value chains, creating jobs, and supporting sustainable economic development across the continent. The dedication, vision, and hard work of the entire Arise team have been instrumental in building this partnership." Distributed by APO Group on behalf of African Development Bank Group (AfDB). Media contacts: Alexis Adélé Communication and External Relations Department media@ For Arise IIP: Audrey Mebaley Global Head of Communications Arise IIP About the African Development Bank Group: The African Development Bank Group (AfDB) is the premier multilateral financing institution dedicated to Africa's development. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NSF). The AfDB has a field presence in 41 African countries, with an external office in Japan, and contributes to the economic developm ent and social progress of its 54 regional member states. For more information: About Arise IIP: ARISE Integrated Industrial Platforms (ARISE IIP) is a pan-African developer and operator of world-class industrial parks committed to making Africa thrive. Arise IIP identifies opportunities in commercial and industrial value chains across Africa, and conceives, finances, builds and operates the necessary infrastructure, playing a catalytic role in supporting countries to transition to an industrial economy. Arise IIP is driven by the pursuit of green growth, with an ambition to unlock the continent's industrial potential while neutralizing carbon emissions and climate impact. (Website:
Zawya
28-02-2025
- Business
- Zawya
Afreximbank and Kenyan government ink milestone agreements to promote industralisation
Afreximbank to finance development and operationalisation of industrial parks and special economic zones to bolster industralisation and export manufacturing Afreximbank also commits to three-year US$3 billion Kenya country programme to support trade and trade-related investments African Export-Import Bank (Afreximbank) ( Africa's foremost trade development Bank, today in Mombasa, Kenya, ratified a series of initiatives designed to support Kenya's industrialisation and export-led development agenda. Under the terms of the initiatives, formalised at a signing ceremony with the Kenyan authorities, Afreximbank will finance the development and operationalisation of industrial parks (IPs) and special economic zones (SEZs) to bolster the country's industrialisation and export manufacturing. The proposed industrial parks, to be developed by Afreximbank through its affiliate company, Arise Integrated Industrial Platforms (Arise IIP), will create and sustain an environment in which export-oriented industries can thrive, by leveraging economies of scale, shared infrastructure and access to global markets. Two projects to be undertaken by Afreximbank, with the support of the Government of Kenya and other strategic collaborators, are the development of the Dongo Kundu Integrated Industrial Park and the Naivasha Special Economic Zone II (Naivasha II), for which, having secured leases of the relevant land, Afreximbank intends to leverage the expertise and experience of Arise IIP, a special economic zone developer with experience in the development of integrated industrial parks in Africa. Both the Dongo Kundu Integrated Industrial Park and the Naivasha Special Economic Zone II are included in the Fourth Medium Term Plan (2023-2027) of the Kenyan government's Vision 2030, entitled 'Bottom-Up Economic Transformation Agenda for Inclusive Growth', reflecting the high priority which state institutions are giving to measures that strengthen, expand and accelerate Kenya's capacity to export value-added goods within Africa and globally. Speaking on the signing, the President of the Republic of Kenya, H.E. Dr. William S. Ruto said; "We have a responsibility to steer the country in the right direction, harnessing the immense potential of manufacturing, industrialization, agro-processing, and value addition within Special Economic Zones. The signing of these agreements today marks a significant milestone in Kenya's development, expanding opportunities to enhance our manufacturing sector and create a more conducive environment for investment. We convene here today to sign an investment – and not a loan – undertaken by people whose faith in this country and its possibilities motivates their decision. This is our country, let's continue to do whatever it takes to make it an attractive destination for those who want to invest.' In his own comments, Prof. Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, said: 'Africa has been heralded as a land of opportunity, blessed with resources that power the world. Yet, we have struggled to translate this wealth into lasting prosperity for our people. For decades, we have watched as others reap the rewards of our natural resources, leaving us tethered to a cycle of dependency—exchanging our riches for aid and loans that kept us on the fringes of the global breadbasket. 'Those days are behind us. Today, Kenya takes a bold step to reshape this story in a profound and impactful manner. These Parks are an integral part of the Government's plan to boost the country's economic growth under the Vision 2030 development blueprint. Today's signatures are more than ink on paper—they are a promise to the people of Kenya, a pledge that the country will rise as a beacon of industrial might and self-reliance.' Mrs. Oluranti Doherty, Managing Director of Export Development at Afreximbank, and Captain William K. Ruto, Managing Director of the Kenya Ports Authority, signed the Dongo Kundu Special Economic Zone agreement. Dr. Kenneth Chelule, Chief Executive Officer of the Special Economic Zones Authority, and Mrs. Doherty signed the Naivasha Special Economic Zone agreement, with H.E. Dr. William Ruto, President of the Republic of Kenya, and Prof. Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, witnessing the signing of both agreements for the State and for the Bank, respectively. The Dongo Kundu Industrial Park within the Mombasa SEZ is expected, upon completion, to boost the area with a state-of-the-art industrial park that will contribute significantly to economic growth and industrialisation efforts in Mombasa County and in Kenya as a whole. The Naivasha II Special Economic Zone – Naivasha II project is located at Mai Mahiu and will include a free trade zone, an industrial park, a logistics zone and a public utility area with a supporting road network. The project will occupy an area of approximately 5000 acres. The Naivasha II project will also derive value from its strategic geographic position as it sits on the gateway to East and Central Africa through the Northern Corridor Transport System, which comprises both a standard gauge railway and a major highway. Moreover, the SEZ will be close to the Naivasha Inland Container Depot, which serves the East African hinterland countries of Burundi, the Democratic Republic of Congo, Kenya, Rwanda, South Sudan and Uganda. Other dignitaries in attendance included Mrs Oluranti Doherty, Managing Director, Export Development, Afreximbank; Hon. Davis Chirchir E.G.H, Roads and Transport Cabinet Secretary; Hon. Hassan Ali Joho, Cabinet Secretary for Mining, Blue Economy and Maritime Affairs; Hon. Salim Mvurya, Cabinet Secretary for Youth Affairs, Creative Economy and Sports of Kenya and Honourable Lee Kinyanjui, Cabinet Secretary, Ministry of Investment, Trade and Industry. Additionally, Captain William K. Ruto, Managing Director, Kenya Ports Authority; Dr. Kenneth Chelule, Chief Executive Officer, Special Economic Zones Authority; His Excellency Abdulswamad Shariff Nassir, Governor of Mombasa County; the Honourable Benjamin Tayari, Chairman, Kenya Ports Authority, and Mr. Fredrick Muteti, EBS, Chairperson, Special Economic Zones Authority attended the event. Distributed by APO Group on behalf of Afreximbank. Media Contact: Vincent Musumba Communications and Events Manager (Media Relations) Email: press@ Follow us on: X: Facebook: LinkedIn: Instagram: About Afreximbank: African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra-and extra-African trade. For 30 years, the Bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa's trade, accelerating industralisation and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Bank is setting up a US$10 billion Adjustment Fund to support countries effectively participating in the AfCFTA. At the end of December 2023, Afreximbank's total assets and guarantees stood at over US$37.3 billion, and its shareholder funds amounted to US$6.1 billion. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody's (Baa1), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB). Afreximbank has evolved into a group entity comprising the Bank, its impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure (together, "the Group"). The Bank is headquartered in Cairo, Egypt.
