Overview

Harith Fund Managers (Pty) Ltd is spearheading initiatives aimed at ensuring that the public and private sectors capitalise and enjoy great returns by investing in infrastructure in the continent. Harith believes that Africa is the last frontier of emerging markets to achieve superior returns for risk capital.

The name Harith is a North African word with a dual meaning “Plough and protector”. Harith sees itself as ploughing the African continent and planting seeds of much needed infrastructure, whilst protecting the interest of its investors.

Headquartered in Sandton, South Africa, the shareholding of Harith is spread between the management of Harith, Public Investment Corporation, Old Mutual Life Assurance company (South Africa) and ABSA Bank trading as ABSA Capital. Harith has directly sown the seeds of infrastructure in over six countries in the continent, as well as indirectly in a number of countries across Africa.

The sectors we are actively invested in are broad and range from communication, technology, transport, energy, water and sanitation. Our investment approach has been systematic and regional in its thrust and emphasis hence our investments, looked at in a different way, cover West, East, North and Southern Africa.

Harith is the inaugural fund manager appointed to manage the Pan African Infrastructure Fund (PAIDF) – the first and only 15 year old fund in the continent. Harith operates PAIDF on the basis of sound, transparent and fiscally responsible governing principles to achieve the objectives of the fund. Harith is circumspective and judicious in selecting the potential investment projects and considers appropriate exit strategies at the point of making investments. Harith maximises value and explores innovative means, guided by its strong commitment to corporate governance principles, to achieve superior financial returns for PAIDF investors.

It is necessary for Africa to aggressively invest in infrastructure in order to achieve higher economic growth. Many African economies are too small to achieve the economies of scale enjoyed in larger and more developed economies. This makes transaction costs high and results in a lack of competitiveness. Sharing the production, management and operation of infrastructure facilities, development corridors and hubs can make a significant impact.

 Africa is open to Public Private Partnerships (PPPs) as one of the best ways of fostering infrastructure development. Participation in PAIDF gives investors access to large-scale PPP projects with potentially superior returns on risk capital.