Old Mutual increases its equity stake in UFF to 49%

Old Mutual has increased its equity stake in African agriculture investment group UFF African Agri Investment to 49%. This new deal, according to the two companies will see the strengthening of the two companies, with investment opportunities of up to $500 million into African farmland envisaged over the next three years.

With specialist expertise in African Agri Investments, UFF has put a dedicated focus on investment in the Agri sector in Africa. The Group has also for a long time been a fund advisor to Old Mutual Investment Group through its Futuregrowth Agri and Old Mutual Agri Funds.

“As the largest manager of real assets in Africa, we have a deep belief in the opportunities in agricultural investing across the African continent. Agriculture as an asset class has already gained huge momentum globally, but is still in its infancy in Africa. This presents a significant investment opportunity for both local and international investors,” Diane Radley, CEO Old Mutual Investment Group said.  “Increasing populations across the continent will lead to a significant demand for agricultural produce, with a 70 percent total increase in agriculture production needed to feed the more than nine billion people expected to inhabit the earth in 2050, of which 25 percent will be in Africa.”

Radley also pointed out that UFF’s Responsible Investment model speaks to the heart of Old Mutual Investment Group’s own ethos when it comes to this space.

“The UFF and Old Mutual partnership is a signatory to the Principles of Responsible Investments in farmland. All farms are assessed and monitored on compliance to International Finance Corporations standards on environmental, social and governance standards encompassing standards set by the International Labour Organization (ILO), United Nations (UN), World Health Organization (WHO), Food and Agricultural Organization (FAO) and local legislation,” she added..

In addition, on the farms in the portfolio, the funds implement a comprehensive education, healthcare and/or housing programmes for farm workers. Radley also said that UFF has an innovative and unique way to affect positive change. 6% of rental revenues is invested in social economic projects providing education, housing and healthcare.

“We couldn’t have chosen a better company to partner with than the Old Mutual Investment Group, an organisation that is fully aligned with our vision of the significant opportunities that African agricultural investing present, together with making a positive change on the continent,” Duncan Vink, co-founder of UFF said adding that this new partnership will drive the future growth of each organisation as well as the broader African continent.

“Agriculture is a vital economic driver in Africa given a number of socio-economic factors, including population growth, poverty and unemployment. These factors present acute challenges and make unlocking our agricultural potential not just an attractive option, but a necessity,” said Vink.


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Nixon Kanali

Tech journalist based in Nairobi. I track and report on tech and African startups. Founder and Editor of TechTrends Media. Nixon is also the East African tech editor for Africa Business Communities. Send tips to

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