IFU backs South African student accommodation platform

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IFU, the Danish development finance institution, has announced an equity investment in SASAII, a real estate platform that plans to develop and operate affordable student accommodation for up to 15,000 students in South Africa over the next 5 years. The institution is investing €13 million into SASAII in a deal led by Nana Yaw Kwakye, an investment director based in IFU’s offices in Accra.

The investment is being made on behalf of the Danish SDG Investment Fund which is backed by the Danish State, large Danish pension funds, and private investors. The sizes of the stake now owned by the fund, or the platform’s existing investors – Eskom Pension and Provident Fund and Momentum Holdings – and another new investor, IFC, have not been disclosed.

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