Organizational Set Up
The Africa Agriculture and Trade Investment Fund is a closed-ended investment company organised under Luxembourg law in the form of a public limited liability company (a "société anonyme") qualifying as a société d'investissement à capital variable – fonds d'investissement spécialisé ("SICAV - SIF") and was initiated by KfW on behalf of the German Federal Ministry for Economic Corporation and Development (BMZ).
The Fund’s Shareholders are represented by the Board of Directors. In compliance with AATIF's founding documents and applicable laws and regulations, it has the exclusive power to administer and manage the Fund.
The Board of Directors appoints the Investment Committee which approves investments proposed by the Investment Manager and supervises the activities of the Investment Manager.
The Investment Manager (Deutsche Bank AG) is appointed by the Board for the management of the Fund on behalf of the Board of Directors.
Parallel to the Fund, grant resources are made available through a Technical Assistance Facility (“TA Facility”). TA Facility assistance is intended to support AATIF investments in realizing their developmental potential. Additionally the TA Facility pursues research and development activities to promote agrifinance in Africa. The TA Facility is managed by the Common Fund for Commodities (CFC), an intergovernmental financial institution established within the framework of the United Nations, specialized in development projects for the global agricultural commodity sector. The TA Facility Manager is supervised by the TA Facility Committee, comprised of TA Facility Donors and Fund sponsors, in order to ensure that AATIF’s Technical Assistance directly supports the mission of the Fund.
Conducting due diligence in African agriculture requires a breadth of expertise ranging from evaluating economic viability and social and environmental sustainability to considering the legal and tax environments of a specific investment. To assess an Investments compliance with the Fund's Social & Environmental Safeguard Guidelines, the Fund will partner with an independent Compliance Advisor. For such purpose the Fund has entered into an agreement with the International Labor Organization (ILO), a specialized United Nations agency that shall provide an opinion to the Investment Manager and the Investment Committee on whether a proposed investment is in compliance with the Fund’s Social and Environmental Safeguard Guidelines which conform with international law.
ILO is supported by the United Nations Environment Programme ("UNEP").