Abu Dhabi group plans big Africa investment: FT
ADS Holding, an Abu Dhabi-based commodities company is planning multi-billion dollar investments in African infrastructure with three other firms and is near to closing three deals shortly, the Financial Times reported on Thursday.
ADS Holding has a 40 percent stake in the new company Baobab Investments, which focuses on emerging markets in the Middle East and Africa.
ADS Holding will focus on long-term development of commodities-based industries and on commodities trading, the report said, citing the chief executive of Baobab.
The launch of Baobab comes at a time when resource-hungry markets in Asia and the Middle East are increasingly looking to Africa to secure food, oil and minerals.
Grindrod, South Africa’s largest shipping company, holds a 35 percent stake in Baobab and Hutchinson Port Holdings has a 10 percent stake. The World Bank’s International Finance Corporation holds the remaining 15 percent.
Baobab will invest across the supply chain in the trade of agriculture goods and minerals, including ports, railways and airports.