AFIG Funds invests in Primrose Properties Ghana Ltd

23 Apr 2015

Advanced Finance and Investment Group (“AFIG Funds”), manager of the Atlantic Coast Regional Fund (“ACRF”) is pleased to announce that it has completed an investment in Primrose Properties Ghana (“PPG”), a leading real estate development company based in Accra, Ghana.

Primrose is focused on the development of commercial and residential properties and has developed a solid track record in Ghana’s growing real estate market. The ACRF investment will allow PPG to fund an attractive pipeline of development projects, including the completion of its latest project, an ultramodern mixed-use (commercial, office, and residential) complex in Kanda, Accra.

Commenting on the transaction, Mr. Charles Adu Boahen, CEO of Primrose said: “This investment represents an important milestone in the evolution of Primrose, launched nearly a decade ago. AFIG Funds is an experienced institutional investor that brings not only capital to support our company’s continued growth, but also management support and international best practices that will enhance our ability to capitalize on attractive opportunities in the real estate market locally and in the sub-region”.

Speaking on behalf of ACRF, Mr. Papa Madiaw Ndiaye, CEO of AFIG Funds, said: “We are pleased to partner with Primrose Properties Ghana. Under the leadership of Mr. Boahen, Primrose has become a leading developer in Ghana. The ACRF investment reflects our confidence in the long-term potential of Ghana, despite recent challenges. It also illustrates AFIG Funds’ strategy to identify and partner with local entrepreneurs who have demonstrated remarkable strategic and operational capabilities. We look forward to supporting Primrose during its next growth phase.”

 

For more, please see here.
« Back to Member News

AVCA is delighted to launch its online training series. Join us on the first series, which will cover Fundraising,… https://t.co/hMf5s4mZiz

AVCA Member News: AIIM in Witkop Solar Park deal Read more: https://t.co/iOiXB8FoEm

According to our new report, North Africa attracted the largest share of PE deals by volume and value with 31% and… https://t.co/vuvCc0fTwK

AVCA partners with @forbesafrica on inaugural Private Equity supplement. “As the pan-African private equity and ve… https://t.co/sCox8j19Ja

In 2020 H1, US$1.1bn was raised including final closes at US$0.5bn and interim closes at US$0.6bn, with 39% of this… https://t.co/0UeB6GkdCs

;