Old Mutual Alternative Investments, the investment arm of South African financial and insurance group, Old Mutual, has acquired a 20% stake in Seven Uquo Gas, a Nigerian-based oil and gas company. The 20% interest was acquired from LSE-listed Savannah Petroleum and the transaction was carried out through Old Mutual’s African Infrastructure Investment Fund 3. The investment targets in terms of returns and margins achieved have not been specified.
“This deal firmly supports AIIF3’s investment strategy, which targets significant influence investments across the power, transport and midstream energy sectors - three focus verticals across sub-Saharan Africa where AIIM sees the greatest disconnect between the demand for critical infrastructure and available capital for these projects,” AIIM’s West African Director, Olusola Lawson, said.
African Infrastructure Investment Managers is currently present in 80 projects in Africa through its 7 investment funds. As for the AIIF 3, it was closed in May 2019 with an amount of $320 million.
Idriss Linge
Telecel Ghana to boost network investment by 150% in 2026 Expansion targets capacity, reliabi...
Namibia and Russia agreed to expand cooperation across energy, mining, and agriculture. Both coun...
Four years after Russia’s 2022 invasion of Ukraine, the fertilizer market is facing a new shock as m...
Cameroon signs MoUs for $1.5 billion waste-to-energy projects Plans target waste treat...
Côte d’Ivoire raises 110bn CFA francs, meeting full target Investor demand hits 291bn CFA fra...
Deal covers counterterrorism, conflict prevention, and cybersecurity cooperation EU delivers military equipment under €50 million support...
Project upgrades 77 km road to boost trade, regional connectivity Initiative aims to create jobs and support economic growth Cameroon and...
Budget approved amid economic challenges Agriculture gets largest share; health, roads, education also prioritized IMF sees 2.7%...
Burundi solar project gets funding boost, two-year extension for expansion Plan includes 12,000 solar systems, monitoring across 700 public...
AI forces newsrooms to balance automation with credibility and trust Agentic AI boosts efficiency but risks scaling disinformation...
Kumbi Saleh is regarded as one of the earliest major political and commercial capitals of West Africa. Located in present-day Mauritania, near the border...