ABiQ facilitated more than $280 million in project finance
ABiQ has managed to put forward projects seeking more than $280 million in funding. The projects selected are diverse and cover the agriculture, real estate, energy and renewable energy sectors.
By 2031, a mere ten years from now, the African continent will have 1.7 billion people—three hundred and forty million people below ten years of age. Populations in the band across the equator covering East, Central and West Africa are growing between 26 and 32 per cent. This rapid population growth requires immediate investment in all areas of everyday life.
Years of corruption and poor leadership has tainted the investment environment in Africa. Although the development opportunities exist, the risk associated with working in Africa prevents major investors from entering the market.
In November 2020, ABiQ and Global Islamic Financial Services (GIFS) signed an agreement whereby ABiQ will collate and present projects requiring project funding. Since agreeing, ABiQ has collated and put forward projects requiring more than $280 million in funding.
Although these projects still have to reach the final investment hurdle, negotiations progress well and close funding during the second quarter of this year. Projects submitted for funding cover agriculture, retail, renewable energy, oil field development and hospitality sectors.
If you have a project that requires funding or wants to know more about projects in Africa, please contact us here.