The Africans for Africa Initiative (AforA) has named New Frontier Developments Limited (NFD) as the fund manager for its flagship investment vehicle, the AforA Fund, in a strategic move aimed at channelling African capital into the continent’s mining sector.
The appointment, formalised through a Memorandum of Understanding signed in April 2025, marks a major milestone in AforA’s mission to foster African-led investment, ownership, and inclusive economic growth. The fund seeks to attract contributions from local investors, institutions, and the African diaspora to tap into Africa’s mineral wealth.
Originally launched at the 2024 African Natural Resources and Energy Investment Summit (AFNIS), the AforA Initiative was founded by Africa Minerals Strategy Group, Core International, and Motimose Metals. It was established to push for greater African control over the exploitation and beneficiation of the continent’s natural resources.
With a growing organisational structure, AforA now boasts a pan-African executive team and board of directors representing countries such as Sierra Leone, Zambia, Nigeria, Senegal, South Africa, the Democratic Republic of Congo, and the UK. The AforA Fund is scheduled for full launch during the 4th AFNIS summit in Abuja in July 2025.
NFD’s asset and fund management operations will be handled through its regulated subsidiary, Allied Trust Asset Management Limited (ATAM), which is licensed by the Securities and Exchange Commission of Nigeria. This arrangement is designed to ensure strong governance and effective capital deployment across Africa’s mining sector.
“We are honoured to be appointed as Fund Manager for the AforA Fund,” said Hassan Usman, Managing Director of NFD. “It’s more than a role—it’s a joint commitment to unlocking Africa’s wealth for Africans. Through ATAM, we aim to deliver measurable growth, impactful investments, and solid governance.”
AforA’s Managing Director, Tim Tokun, described the appointment as transformative. “Securing NFD as our Fund Manager is a game-changer. After a rigorous search, we found a partner who shares not only the technical skills but also our vision of African-led development. This partnership sets the stage for lasting impact.”
The initiative underscores a shift in approach—away from dependence on foreign aid and raw material exports, towards value retention and African-controlled investment. By leveraging partnerships and promoting African agency, AforA aims to make citizens active stakeholders in shaping the future of their economies.
