The two institutions have signed a Memorandum of Understanding (MoU) to facilitate joint investment strategies that advance sustainable development on the continent.

The MoU sets the stage for BII, the UK’s development finance institution, and PIC, one of Africa’s largest asset managers, to work closely in identifying and pursuing impactful investment ventures.

The agreement will enable the organisations to align their objectives and pool their financial and technical resources to unlock growth in key sectors.

Through this agreement, both institutions will share access to their investment pipelines and explore opportunities in areas such as agriculture, infrastructure, financial services, and climate-focused projects.

The collaboration also emphasizes regular engagement and the pursuit of co-investment opportunities that can yield significant economic and social returns.

BII and PIC plan to examine joint opportunities in debt, equity, and fund investments, with a shared goal of enhancing the flow of capital to transformational projects across Africa.

The combined expertise and networks of the two organisations are expected to strengthen the pipeline for developmental finance on the continent.

BII brings to the table over seven decades of investment in Africa, with a current portfolio of $5.6 billion across 810 businesses.

The institution focuses on long-term funding that supports enterprise growth, infrastructure, and inclusive services to boost livelihoods and build resilient economies. Its partnership with PIC is part of a broader initiative to attract more commercial capital to emerging markets.

PIC’s mandate includes investing in developmental projects, both in South Africa and across Africa. Its focus spans diverse sectors such as manufacturing, mining, agriculture, and financial services, along with investments in social, economic, and environmental infrastructure.

Commenting on the agreement, Antony Phillipson, the British High Commissioner to South Africa, noted:

“This milestone partnership strengthens the UK-South Africa Growth Partnership and reflects our mutual vision to mobilize funding that fosters inclusive development throughout Africa.”

Leslie Maasdorp, CEO of BII, echoed the sentiment:

“Our alliance with PIC highlights a shared commitment to catalyze sustainable growth. Together, we are unlocking investment opportunities that can accelerate development and attract more private capital into high-impact sectors.”

Abel Sithole, the outgoing CEO of PIC, emphasized that partnerships are central to PIC’s Africa-wide investment strategy:

“This collaboration with BII enables us to adopt blended finance models to back infrastructure and industrial projects that stimulate trade and development across the continent.”

PIC’s Chief Investment Officer, Kabelo Rikhotso, added that this MoU represents a strategic step in broadening their reach:

“Working alongside BII opens up avenues for deal-sharing and co-investment, enhancing our ability to fulfill our clients’ investment mandates and drive positive outcomes in Africa’s emerging markets.”