Business | Investment
Gulf investors targeted for Africa Agriculture Fund
cru Investment Management, the UK-based $800 million (Dh2.94 billion) absolute return investment company, on Saturday announced it would be targeting the UAE and Gulf region and unveiled its plans to offer a new Africa Agriculture Fund in the Middle East early next year.
- Staff Report
- Published: 23:52 September 20, 2008
Dubai: cru Investment Management, the UK-based $800 million (Dh2.94 billion) absolute return investment company, on Saturday announced it would be targeting the UAE and Gulf region and unveiled its plans to offer a new Africa Agriculture Fund in the Middle East early next year.
The fund will invest in commercial agriculture in Sub-Saharan Africa, with the aim of helping to alleviate poverty in the region, while not compromising returns for investors.
cru, which has significant exposure to commercial agriculture in Malawi, with over 2,500 hectares of land under its own control and another 4,000 hectares in outgrower schemes, said its fund would offer investors a unique opportunity to be part of a philanthropic gesture by helping the vulnerable communities of Africa ravaged by poverty as well as earn excellent returns on investment - in the range of 30 to 40 per cent per annum.
'Crucial challenge'
"Securing long-term food supplies is a crucial challenge for the world in general but also very relevant to the Gulf in the wake of a rising population and increasing food prices," said Jon Maguire, Chairman of cru Investment Management.
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