(AfDB) - 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."

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: ariseiip.com ).