Nigeria and South Africa partner in ag deal


The Nigeria Sovereign Investment Authority (NSIA) has established a partnership with Old Mutual Investment Group (OMIG) of South Africa to co-invest $700m in real estate and agriculture development projects.

Premium Times reported that the NSIA, which is managing Nigeria’s sovereign wealth fund, said at the agreement signing ceremony in Abuja, that $500m would go into real estate, while $200m would be for agriculture development. The Director/CEO of NSIA, Uche Orji said, the Nigerian investment agency’s commitment would be $25m, with matching capital of about $50m from OMIG, and additional capital of about $150m expected from third party investors, raising the final funding to $200m.

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