Investec Acquires Manda Hill, Finances GSEZ Ports
Posted On: 05 Aug 2019 |
Source(s): Emerging Africa Infrastructure Fund, Zambia Reports | Author(s): Chris Phiri
Growthpoint Investec African Properties (GIAP), a pan-African real estate investment trust managed by Africa-focused investors Investec Asset Management and Growthpoint Properties, has acquired a 100 percent stake in Zambia-based Manda Hill shopping center from local property investment company AttAfrica. Manda Hill comprises 42,000 square meters of retail space. Financial details of the transaction were not disclosed. Separately, the Emerging Africa Infrastructure Fund (EAIF), a joint public and private investment fund owned by the Private Infrastructure Development Group and managed by Investec Asset Management, has agreed to provide EUR40 million (approximately USD44 million) in debt financing over a 15-year term for a new port development project by Gabon Special Economic Zone Ports (GSEZ Ports). The African Development Bank will contribute an additional EUR40 million under the same terms. GSEZ Ports has been granted a 30-year concession to build and operate a new port in the city of Owendo.