ARISE Integrated Industrial Platforms (ARISE IIP), the developer of the IPR Free Zone in partnership with the Ogun State Government, has announced the successful completion of a $700 million capital raise.

The deal, comprising both primary and secondary components, is one of the largest private infrastructure transactions in Africa.

The capital injection brings Vision Invest, a prominent Saudi Arabian infrastructure investor and developer, has also been added to ARISE IIP’s shareholder base.

Already existing shareholders include Africa Finance Corporation (AFC), Equitane, and the Fund for Export Development in Africa (FEDA), the development impact platform of Afreximbank.

According to Gagan Gupta, Founder and CEO of ARISE IIP, the investment will quicken the company’s mission to build green, inclusive, and sustainable industrial ecosystems across the continent.

“The partnership with Vision Invest and the continued support of our institutional shareholders will help us build resilient, self-sustaining industrial ecosystems that deliver long-term value,” Gupta said.

President & CEO of AFC and Chairman of ARISE IIP,  Samaila Zubairu, emphasised the alignment between global capital and Africa’s industrial ambitions saying,

“ARISE IIP has demonstrated what is possible when global capital aligns with Africa’s development goals.”

President of Afreximbank, Professor Benedict Oramah,  contributing, called the deal a milestone that will strengthen ARISE IIP’s role in promoting export manufacturing and industrialisation across Africa.

Marlene Ngoyi, CEO of FEDA, reaffirmed the fund’s commitment to ARISE IIP, describing it as a platform that drives sustainable growth and regional integration.