raises $85 million from Afreximbank’s FEDA through a convertible loan note subscription agreement to support its pan-African growth strategy
Summary
The conversion of the loan notes into ordinary shares in ARISE IIPs capital can occur during the conversion periods specified under the agreement.This announcement demonstrates the confidence of the FEDA, the development impact investment platform of African Export Import Bank (AFREXIMBANK), in ARISE IIPs development strategy and is a testament to within the framework of this large-scale operation. A binding agreement signed with the State of Ogun of Nigeria forthe development of the Remo Economic Industrial Cluster (November 7th 2022).For the past few years, ARISE IIP has experienced a remarkable expansion across Africa, with currently over a dozen integrated industrial zones accelerating the continents industrialization.For reference, in Gabon, ARISE IIP manages the Gabon Special Economic Zone (GSEZ) which focuses on the timber industry, and has created 16,000 jobs, attracted 120 investors, and enabled Gabon to move from being an exporter of logs to the worlds 2nd largest producer and exporter of veneer, as well as the first in Africa.In Benin, ARISE IIP operates the Glo-Djigb\xe9 Industrial Zone (GDIZ) dedicated to the local transformation of agricultural product including cotton, cashews, pineapples, shea nuts and soybeans, among others.ARISE IIP also manages the Ad\xe9tikop\xe9 Industrial Platform (PIA) in Togo which concentrates on the local transformation of agricultural product.In addition, ARISE IIP has undertaken the building of two economic zones in the Republic of Congo and one zone in Ivory Coast. It echoes the FEDAs DNA to provide equity capital with a focus on delivering development impact in diverse sectors in Africa which are critical to driving intra-African trade and value-added export development.Prof. We are driven by the pursuit of green growth; our ambition is to unlock the continents industrial potential while neutralising our carbon emissions and climate impact. GSEZ won the Honourable Mention and High Recommendation of the Financial Times fDi Global Free Zones of the Year 2022.Headquartered in Kigali (Rwanda), the Fund for Export Development in Africa (FEDA) is the impact investment subsidiary of the African Export-Import Bank (Afreximbank or the Bank) set up to provide equity, quasi-equity, and debt capital to finance the multi-billion-dollar funding gap (particularly in equity) needed to transform the Trade sector in Africa.