Africa : Foundation Launched to Fund Feasibility Studies and Business Plans

Posted by shbanchang on November 25, 2011

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TradeInvest Africa (Cape Town)

24 November 2011

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A new foundation that will fund feasibility studies and business plans for infrastructure projects in Africa has been launched.

Made In Africa Foundation will provide “first mile” finance to indigenous businesses and is a collaboration of Nigeria-based oil and gas company, Atlantic Energy Drilling Concepts Ltd, Nigerian businessman, Kola Aluko and fashion designer, Ozwald Boateng.

Africa needs an estimated US-billion annually for infrastructure projects until 2020, according to the International Finance Corporation. The lack of feasibility studies and business plans for projects is a challenge that undermines access to finance.

‘A lack of capital to get to this stage has meant that many opportunities have not been pursued and few projects have been undertaken by Africans or African businesses,’ says a statement from the Atlantic Energy.

Made In Africa Foundation will initially finance feasibility studies for independent power projects across Africa, and the Ugandan urban renewal master plan for Kampala’s Naguru Nakawa redevelopment.

According to the statement US0-million of funding for feasibility studies and master plans would develop over US0-billion worth of infrastructure projects, which in turn would create a trillion dollars of value across Africa.

Made In Africa Ltd. was founded in 2006 by Boateng, Chris Cleverly and Pr. Hassan Kimbugwe. It is a Mauritius-based company dedicated to bringing innovative ideas and capital to Africa.

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Tags: Africa, Business, Feasibility, Foundation, fund, launched, plans, Studies

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