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Old Mutual takes stake in agri investment group

May 25 2016 19:03

Cape Town - Old Mutual Investment Group has announced a deal to increase its overall effective equity stake in African agriculture investment group, UFF African Agri Investments, to 49%.

The partnership will see the strengthening of a longtime relationship between the two companies, with investment opportunities of up to $500m into African farmland envisaged over the next three years.

UFF African Agri Investments has specialist expertise, with a dedicated focus on investments in the Agri sector in Africa. The Group has long been a fund advisor to Old Mutual Investment Group through its Futuregrowth Agri and Old Mutual Agri Funds.

According to Diane Radley, CEO of Old Mutual Investment Group, this formal partnership was a natural progression for the two organisations.

“As the largest manager of real assets in Africa, we have a deep belief in the opportunities in agricultural investing across the African continent. Agriculture as an asset class has already gained huge momentum globally, but is still in its infancy in Africa. This presents a significant investment opportunity for both local and international investors,” she explained.

“Increasing populations across the continent will lead to a significant demand for agricultural produce, with a 70 percent total increase in agriculture production needed to feed the more than nine billion people expected to inhabit the earth in 2050, of which 25 percent will be in Africa.”

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old mutual  |  agribusines  |  financial services

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