One Africa Investment Fund Issues Share Titles
One Africa Investment Fund says its unit price has increased from 103,000 BIF to 111,000 BIF as it continues raising funds for the Buja City Plaza project.
One Africa Investment Fund (1AIF) has issued investment titles to shareholders who participated in its first fundraising phase.
The fund is registered with Burundi’s Capital Market Regulatory Authority (ARMC) as a collective investment scheme.
Unit price increases
During the first fundraising phase, one investment unit was valued at 103,000 BIF ($103). The fund now lists a unit at 111,000 BIF ($111).
1AIF describes the difference as an 8% issue premium for investors from the first fundraising phase. This should not be confused with a guaranteed annual investment return.
Buja City Plaza
The money is being raised in connection with investments including Buja City Plaza, planned for the former central market site in Bujumbura.
The project is structured as a public-private partnership. Burundi’s government says the agreement provides for three years of construction followed by 24 years of commercial operation.
Project representatives have placed the first phase at approximately 95 billion BIF.
Shareholders receive titles
At a recent event, first-phase investors received documents representing their investment holdings.
1AIF founder Fablice Dieudonné Manirakiza said shareholders have the same rights, while their financial benefits can vary according to the level of their investment.
Potential investors should review the fund’s prospectus and understand the risks and conditions before investing.
