Partnering to deliver infrastructure Solutions

Backed by a highly experienced team

 

ARM-Harith Infrastructure Investment Limited

Solid track record in infrastructure finance in Nigeria

Who We Are

Incorporated in 2013, the Fund achieved its first close on 16th January 2015, with total commitments of circa US$91 million. ARM, the main investor in ARMHIF, committed US$25 million to the Fund and Harith, the co-sponsor, together with investors from its pool, committed a matching US$25 million.

The African Development Bank (“AfDB”), playing a key role as catalyst for investment by the limited partners in the Fund, committed US$20 million. Nigerian Pension Funds also made commitments to the Fund, which we understand are the first infrastructure investments made by Nigerian Pension Funds via the private equity route. The Fund also raised commitments from commercial investors, HNIs, and the Fund Management Team.

About ARM

ARM is a leading indigenously-managed Nigerian financial services firm, with interests in traditional asset management, and alternative asset classes such as real estate and infrastructure through its private funds business. Established in 1994, ARM’s operations in asset management (currently the equivalent of circa US$3 billion of funds under management) and real estate development are rated amongst the best in Nigeria.  Over the past 10 years in particular, ARM has developed competence in the area of infrastructure finance, development, and investment, a sector with huge potential in Nigeria and throughout the West African Sub-region. ARM has a long history and track record in infrastructure, including as sponsor of Lekki Concession Company Ltd, the concessionaire responsible for Nigeria’s first-ever PPP Toll Road Concession.

About Harith

Harith are fund managers of the South African-based US$630M Pan African Infrastructure Development Fund (PAIDF1), and achieved first close in 2014 for a new US$1.2 billion fund (PAIDF2). Harith also owns UK-based Frontier Markets Fund Managers Ltd, managers of the Emerging Africa Infrastructure Fund and Guarantco, both funds contributing a further US$1.2 billion of assets under management to the Harith portfolio. Harith has a solid track record and history in infrastructure with investments in several sectors across Africa covering ICT, airports, tolled bridges, petrochemicals, and submarine cables, amongst others. PAIDF1’s infrastructure investments include the Main One Cable Company, owner of Nigeria’s first privately-financed submarine cable system, which runs down the coast of West Africa.

The Team

Tariye Gbadegesin - Managing Director & Chief Investment Officer

Tariye

An investment professional with over 20 years of experience in finance, principal investments and infrastructure; having mobilized over US$3 billion of capital for infrastructure projects in Africa.

Tariye has strong pan-African investment track record having led the US$ 800 million Industrial Infrastructure and Telecommunications business at the Africa Finance Corporation. She also has global experience from working at the International Monetary Fund, the Boston Consulting Group and PricewaterhouseCoopers.

Tariye has a bachelor’s degree in Economics from Amherst College, and an MBA from the Harvard Business School.

Ernest Nyarko - Investment Director

A Chartered accountant with over 20 years post-qualification experience with extensive exposure to private equity and infrastructure development

He has been a Harith Investment Director based out of Johannesburg and Accra. Prior to joining ARMHIIL, Ernest functioned as Head of Equities at SSNIT (Ghana’s national pension fund),  Senior Investment Manager and Head of Corporate Finance at Fidelity Capital Partners, Financial Advisory Consultant at KPMG, and also advisor to various organizations including the Government of Ghana on privatization of its shares in Coca Cola Bottling Company

He holds a graduate degree in Economics with Finance (Cand Oecon) from the University of Oslo, and a Bachelor’s degree in Economics and Statistics from the University of Ghana.

Jobalo Oshikanlu - Legal Director

A highly experienced corporate and commercial lawyer, Jobalo has extensive experience in infrastructure project development, infrastructure project finance and implementation, as well as private equity.

Prior to joining ARMHIIL, Jobalo was Executive Director at Lekki Concession Company where he was Head of Legal for 7 years. He also had prior experience with the law firm of Aluko & Oyebode where he was involved in litigation, oil & gas, mining law, banking, corporate finance, project finance, corporate restructuring and M&As. He was a key member of the Privatization and PPP advisory teams at the firm.

He holds a Bachelor’s degree in Law and a BL from the Nigerian Law School. He is a Barrister and Solicitor of the Supreme Court of Nigeria, a member of the Nigerian Bar Association and of the International Bar Association. He is also an alumnus of Cranfield where he obtained an Award in Business & Leadership.

Efe Taiwo Okoh - Legal & Compliance Associate

Efe has over eight years diverse experience as a lawyer working in the financial services and private equity industry, with demonstrated experience in capital market, corporate finance, and structured finance transactions. She is highly skilled in transaction structuring, contract negotiation and administration and corporate governance practices.

Prior to joining ARMHIIL, she was a Senior Associate (Transactions Practice) at the law office of Tokunbo Orimobi LP, Trust Advisory Counsel at ARM Trustees Limited and Legal Officer at United Capital Plc.

Efe holds both a Master and Bachelor of Laws degree (LL.M, LL.B) and is qualified to practice as a Barrister and Solicitor of the Supreme Court of Nigeria (BL). She has attended trainings on Private Equity and Venture Capital financing as well as on Project Finance Documentation. She is a Certified Wealth Management professional and a member of the Nigerian Bar Association

Board of Directors

Prof. Fabian Ajogwu SAN - Chairman

Fabian Ajogwu is a SAN and the founding Partner of the Law Firm of Kenna Partners. He has well over two decades of law practice experience in the field of Foreign Direct Investments and Corporate Restructuring in the Financial Services sector, and Natural Resources sector; including Litigation and Arbitration in related fields.

He is an adjunct senior faculty of the Lagos Business School in Nigeria where he has taught courses on Business Law, Negotiations and Corporate Governance over the past 15 years

Tariye Gbadegesin - Managing Director & Chief Investment Officer

An investment professional with over 20 years of experience in finance, principal investments and infrastructure; having mobilized over US$3 billion of capital for infrastructure projects in Africa.

Tariye has strong pan-African investment track record having led the US$ 800 million Industrial Infrastructure and Telecommunications business at the Africa Finance Corporation. She also has global experience from working at the International Monetary Fund, the Boston Consulting Group and PricewaterhouseCoopers.

Tariye has a bachelor’s degree in Economics from Amherst College, and an MBA from the Harvard Business School.

Sadiq Mohammed - Non-Executive Director

Sadiq Mohammed is currently a Deputy Group CEO of ARM and prior to that was the Managing Director of ARM Pension Managers (PFA) Limited between 2011 and 2014.

Previously, at different points he served as the Chief Operating Officer (COO) of ARM Group and the Managing Director in charge of ARM’s Proprietary business. He joined the Board of ARM in 2010.

Offong Ambah - Non-Exec. Director (Independent)

Executive Director since 2006, Offong Ambah is currently the Group Executive Director for Ecobank Capital. Prior to that, he was the Regional Head for Nigeria. Between 1985 and 1991, he worked with International Merchant Bank and Citi Trust Merchant Bank in Nigeria.

In 1991 he started work with Ecobank. In 1999, he was transferred to Liberia to set up Ecobank Liberia as Managing Director. He left the Ecobank Group in 2002 for United Bank for Africa PLC where he worked as Executive Director. He left UBA in 2005 and was appointed Interim Chairman of Allstates Trust Bank.

In March 2006, he returned to Ecobank Group as Managing Director of Ecobank Nigeria and Regional Head for Nigeria. Offong Ambah holds a Bachelor in Economics

Jumoke Ogundare - Non-Exec. Director (ARM Group)

Jumoke was appointed Chief Executive of Asset & Resource Management Company Ltd ARM, the holding company of the ARM Group in July 2015. Between 2011 and 2015, she was Deputy Chief Executive Officer of the Firm.

Prior to that she was the Managing Director, ARM Asset Management Non Pension, where she was actively involved in building the asset management business to become one of the leading asset management firms in Nigeria with several billions of Naira under management.

She has more than 25 years’ experience in credit & marketing spanning International Merchant Bank (IMB), Prime Merchant Bank Limited and Citadel Savings and Loans.

Jumoke holds a B Sc. in Economics from the University of Jos and a Masters in Business Administration degree from Cardiff Business School in Wales. She is also an alumnus of the Program for Management Development (PMD) of the Harvard Business School.

Tshepo Mahloele - Non-Exec. Director (Harith)

Tshepo Daun Mahloele, Bproc, has been the Chief Executive Officer at Harith General Partners since September 14, 2007. Mr. Mahloele has been the Head of Corporate Finance at the Public Investment Corporation (PIC) and the Isibaya Fund since 2003.

Mahloele has over 15 years of transactional experience in project finance, private equity, investment banking, and corporate finance. He also has extensive experience in infrastructure finance, having been involved in the financing of the ground-breaking Maputo Toll Road.

He completed various programs and certificate courses in Finance and Venture Capital and also completed the Harvard AMP program. Mr. Mahloele holds a Bachelor of Procurationis degree from the University of Rhodes in 1988.

Lesiba Morallane - Non-Exec. Director (Harith)

Lesiba Morallane is one of the founding members of the team at Harith General Partners Proprietary Limited where he is a Senior Investment Director. He is currently Senior Manager in charge of Growth at Harith. Mr. Morallane has significant finance and telecommunications experience, with financial and management expertise gained from both the private and public sectors. He joined Vodacom SPRL in the Democratic Republic of Congo in 1999 as Head of Financial Management, has worked for Vodacom South Africa in Midrand, the Limpopo Economic Development agency in South Africa as Group Finance Director and also served as a Chief Operating Officer. He serves in various boards, including the South African Road Agency, Limpopo Province, and Checkers/Shoprite (Propriety) Limited – Thohoyandou, Limpopo Province.