AVA Global launches N20bn infrastructure fund in Nigeria

Bisola David
Bisola David
AVA Global launches N20bn infrastructure fund in Nigeria

By Melvin Onwubuke

Ava Global Asset Managers Limited has through its N200b Infrastructure Fund issued N20 billion fund, aimed at boosting infrastructural development in Nigeria.

This was announced by Mr Efe Shaire, Managing Director of Ava Assets Managers Limited, in a media briefing in Lagos according to nairametrics.

In the statement, he noted the importance of cooperation, innovative financial product and other strategic initiative from the private sector.

He said “The overall objective of the AVA IF is to spur socio-economic impact and unlock the development of the Nigerian economy.

“The purpose of the fund is to serve as a new source of capital for infrastructure projects, promoting financing for infrastructure projects in Nigeria and the resulting socio-economic effects.

“The Fund is supported majorly by private sector monies and offers a sustainable platform for new kinds of investors that traditionally do not have access to these markets to invest billions in infrastructure projects,” he added.

Shaire advised the stakeholders in the private sector to support the government in closing the infrastructural deficit.

Furthermore, Shaire pointed out, the funds which would be the first in the series would close on March 6, 2024. Stating the monies realized would be invested in power, agricultural processing, roads among others.

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