Sonntag, 17.12.2017 05:17 Uhr

An African infrastructure fund from Danmark

Verantwortlicher Autor: Carlo Marino Rome, 11.08.2017, 11:52 Uhr
Nachricht/Bericht: +++ Wirtschaft und Finanzen +++ Bericht 5381x gelesen

Rome [ENA] PensionDanmark, PKA and Lægernes Pension have started an African infrastructure fund with a newly created company, AP Møller Capital. There is a critical need for infrastructure across Africa where more than half of the main roads remain untarred and many local communities still do not have access to clean water. Africa’s infrastructure demand is valued at about US$100bn a year – currently, only around half of this

amount is actually spent on infrastructure, leaving a US$50bn shortfall. The Danish pension funds have allocated US$550m (€468m) and expect to increase this to US$1bn by bringing in other Danish and international investors. Africa Infrastructure Fund I is planned to run for 10 years, during which time it will make 10 to 15 investments, with a specific attention on transport and energy. Peter Damgard Jensen, chief executive of PKA, revealed: “With this new fund we will make infrastructure investments in Africa and have the opportunity to ensure a good return for our members while making a positive difference in line with the UN’s sustainability goals.”

AP Møller Capital is led by partners Kim Fejfer, Lars Reno Jakobsen, Jens Thomassen and Joe Nicklaus Nielsen, three of whom are from Mærsk. The private equity firm was established to form businesses that create value and benefit society, according to Robert Mærsk Uggla, AP Møller Holding’s chief executive. With a population of more than 1 billion people, expected to double by mid-century, Africa offers an huge potential market. And while the rest of the world is aging, Africa is young. According to Deloitte, some 200 million Africans, about 20% of the population, are between the ages of 15 and 24, a figure which is likely to rise to 321 million by 2030.

Africa has a hard-working population and has a pressing need for more investment in infrastructure.And in Africa there is the growing importance of China. A major step for Sino-African co-operation has been represented by the China-Africa Development Fund (CADFund) which opened its first representative office in Africa on 16th March 2010. According to the CEO of the fund it will boost economic development in Africa by encouraging investment by Chinese enterprises.The African Continent is a unique opportunity to invest in a region with high economic growth and attractive investment opportunities. It’s important to have extensive investment experience combined with a strong network and a promising pipeline of potential investment projects.

PensionDanmark already has investments in Africa in the form of farmland, sustainable farming projects and renewable energy projects, including Lake Turkana Wind in Kenya.PKA, has a strong focus on investments that can slow the effects of climate change and has invested in Africa’s largest wind farm, located in Kenya. There is an increasing approval by African governments of the role the private sector can play, but there are still challenges. It is crucial to guarantee that expectations are reinforced. It is correspondingly vital to involve local communities, and make sure that they be aware of any changes to their environment as well as the associated benefits the project will bring to their community.

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