The Public Investment Corporation and British International Investment have signed a Memorandum of Understanding to accelerate collaboration in investments in Nigeria and across the African continent.

The partnership aims to drive sustainable economic growth and development by jointly exploring and pursuing impactful investment opportunities.

The MoU outlines a commitment to share deal pipelines, facilitating the exchange of promising investment opportunities across various economic sectors, including agriculture, financial services, infrastructure, and climate initiatives.

The partnership will foster regular dialogue and explore co-investment possibilities, leveraging the expertise of both organizations to maximize impact.

According to the outgoing CEO of the PIC, Abel Sithole, the partnership cements the organisation’s strategy of investing in the rest of Africa through partnerships. “The BII partnership will enable the use of blended funding models to unlock investments that facilitate infrastructure development, industrialization, and trade on the continent,” he said.

The CEO of BII, Leslie Maasdorp, added that the partnership exemplifies their shared ambition to drive growth and increase impact across the continent. “By leveraging our combined expertise and resources, we can unlock new opportunities for transformative investments that support sustainable development, drive economic growth, and attract increased commercial capital into key sectors across Africa,” he said.

The partnership is expected to unlock new avenues for capital deployment and contribute to transformative development across Africa, with a focus on sectors such as agriculture, manufacturing, mining, and financial services.

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