In a significant step toward reshaping the investment landscape across Africa’s natural resources sector, the Africans forAfrica Initiative (AforA) has appointed New FrontierDevelopments Limited (NFD) as Fund Manager for itsflagship investment vehicle—the AforA Fund.
The appointment, formalised through an MoU signed last month (April 2025), is set to accelerate AforA’s mission ofmobilising African capital—both from within the continentand 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 NaturalResources and Energy Investment Summit—the AforA Initiative was borne from a collaboration between Africa Minerals Strategy Group, Core International, and Motimosé 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 bemanaged by Allied Trust Asset Management Limited (ATAM)—NFD’s dedicated asset and fund managementsubsidiary—which is licensed and regulated by the Securities and Exchange Commission of Nigeria.
This structure ensures robust governance, comprehensive risk oversight, and strategic capitaldeployment 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 morethan a partnership—it’s a shared mission to unlockAfrica’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 FundManager 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 justtechnical capability, but true alignment with our vision ofAfrican-led development. We’re excited for what’s ahead.”
The AforA Fund represents a growing movement acrossthe 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 initiativeaims to empower African citizens to play a central role inshaping the future of their economies.
Want to learn more about how the Africans for AfricaInitiative began and where it’s headed? Listen to the full conversation with the Managing Director of AforA on the AFNIS podcast here:https://www.buzzsprout.com/2311333/episodes/17121710
About Africans for Africa Initiative (AforA)
Africans for Africa is a community-driven organization focused on unlocking Africa’s economic potential byharnessing its natural resources for sustainabledevelopment 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 moreinformation: www.newfrontier.com.ng
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