The Nigeria Sovereign Investment Authority (“NSIA”), manager of Nigeria’s sovereign wealth fund, and Z Capital Group (“ZCG”), a leading private markets asset manager, Wednesday announced a joint venture partnership to establish a fund focused on infrastructure investments in Africa.
Both parties have signed a Memorandum of Understanding (“MoU”) to this effect. This strategic collaboration offers the opportunity to leverage the unique economic and financial opportunities that are currently burgeoning within the African continent.
According to a statement by NSIA, under this MoU, ZCG and NSIA will pursue equity, debt, and other blended financial instruments for investments across diverse sectors, including, but not limited to, healthcare, renewable energy, mobility & logistics, energy transition, climate-adaptive infrastructure, digital & social infrastructure, climate-smart agriculture, and green industrialization.
The MoU establishes a strategic partnership between ZCG and NSIA, facilitating collaborative efforts in identifying, developing, and implementing infrastructure projects in Africa.
Both parties share a common vision of contributing to the economic growth and social development of African economies through investments in critical infrastructure projects. Aligned with NSIA’s core mission, the partnership aims to contribute to sustainable economic growth, foster innovation, and address key developmental challenges across the African continent, the statement added.
The joint venture will capitalize on the complementary expertise of NSIA and ZCG, combining technical expertise, project management skills, and a deep understanding of the local context to deliver successful infrastructure solutions.