The Old Mutual Investment Group has announced a deal to increase its overall effective equity stake in the African agriculture investment group, UFF African Agri Investments, to 49%. The partnership will see the strengthening of a long-time relationship between the two companies, with investment opportunities of up to $500 million into African farmland envisaged over the next three years.
According to Diane Radley, chief executive officer of the 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 explains.
“The UFF and Old Mutual partnership is a signatory to the principles of responsible investments in farmland. All farms are assessed and monitored on compliance to International Finance Corporations standards on environmental, social and governance standards encompassing standards set by the International Labour Organisation (ILO), United Nations (UN), World Health Organisation (WHO), Food and Agricultural Organisation (FAO) and local legislation,” she explains. – Press release