In a significant step toward reshaping the investment landscape across Africa’s natural resources sector, the Africans for Africa Initiative (AforA) has appointed New Frontier Developments Limited (NFD) as Fund Manager for its flagship investment vehicle—the AforA Fund.
The appointment, formalized through an MoU signed last month (April 2025), is set to accelerate AforA’s mission of mobilizing African capital—both from within the continent and the diaspora—for sustainable development and inclusive growth. The fund will focus initially on Africa’s mining sector, offering a platform for individual investors, institutional players, and persons of African descent globally to participate in and profit from the continent’s vast mineral wealth.
Launched during AFNIS 2024—the African Natural Resources and Energy Investment Summit—the AforA Initiative was borne from a collaboration between Africa Minerals Strategy Group, Core International, and Motimose Metals. Together, these founding partners envisioned a bold new direction: one that centres African ownership and leadership in the exploitation and beneficiation of its own natural resources.
Since its inception, the initiative has evolved into a structured platform, complete with a formal executive team and a pan-African board of directors spanning Sierra Leone, Zambia, Nigeria, Senegal, the DRC, South Africa, and the UK. The full launch of the AforA Fund is anticipated during the 4th edition of AFNIS, to be held in Abuja in July 2025.
NFD brings a strong track record in identifying high-impact investment opportunities and deploying both capital and operational expertise to unlock growth. As part of the agreement, fund operations will be managed by Allied Trust Asset Management Limited (ATAM)—NFD’s dedicated asset and fund management subsidiary—which is licensed and regulated by the Securities and Exchange Commission of Nigeria. This structure ensures robust governance, comprehensive risk oversight, and strategic capital deployment across all investment activities.
“We are honoured to be appointed as Fund Manager for the AforA Fund,” said the Managing Director of New Frontier Developments, Mr. Hassan Usman. “This is more than a partnership—it’s a shared mission to unlock Africa’s wealth for Africans. Through Allied Trust Asset Management, we’re committed to delivering strong governance, impactful investments, and measurable growth for the continent.”
Leadership at AforA expressed similar optimism about the partnership.
“Securing NFD as our Fund Manager is a game-changing milestone,” said the Managing Director of Africans for Africa Initiative, Mr. Tim Tokun. “It’s the result of a rigorous search to find not just technical capability, but true alignment with our vision of African-led development. We’re excited for what’s ahead.”
The AforA Fund represents a growing movement across the continent: one that seeks to move from aid to agency, from resource extraction to wealth retention, and from foreign dependence to African-led investment. Through strategic partnerships and bold execution, the initiative aims to empower African citizens to play a central role in shaping the future of their economies.
Want to learn more about how the Africans for Africa Initiative began and where it’s headed?
Listen to the full conversation with the Managing Director of AforA on the AFNIS podcast here
About Africans for Africa Initiative (AforA)
Africans for Africa is a community-driven organization focused on unlocking Africa’s economic potential by harnessing its natural resources for sustainable development and growth. For more information: www.afainitiative.org
About New Frontier Developments Limited (NFD)
New Frontier Developments Limited is a proprietary investment company that identifies investment opportunities and provides capital, management, and other resources to drive ventures to success. For more information: www.newfrontier.com.ng
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