Why Old Mutual is investing millions in Nigeria's property and agriculture markets

Diane Radley, Old Mutual Investment Group

This month, South African financial services firm Old Mutual Investment Group announced a partnership with Nigeria’s sovereign wealth fund for the investment of US$700m in real estate and agriculture.

According to Diane Radley, CEO of Old Mutual Investment Group, $500m will focus on developing commercial real estate assets, while $200m will be allocated to farming. Both parties have equally committed $100m towards the real estate fund and $50m for the agriculture investment.

“We’ve put the initial capital into both the funds on a 50-50 basis… and we will look to source international and other local investors to come into the fund to make up the balance,” she told How we made it in Africa.

Read more: Why Old Mutual is investing millions in Nigerian property and agriculture