Emerging Africa Launches  N1bn  Halal Fund

Emerging Africa Asset Management Limited (EAAML), the fund/portfolio management subsidiary  of Emerging Africa Group, has launched a N1 billion Halal Fund in compliance with Sharia law.

Halal mutual funds are managed by professionals knowledgeable in both investment and Islamic finance, ensuring that the fund not only seeks a good return but also stays within the bounds of what is religiously acceptable.

Speaking during the launch of the product in Lagos,  Group Chairman, Emerging Africa, Chief  (Mrs.) Nike Akande,  stated that EAAM has excelled in a competitive business market, adding that the company’s foundation is built on integrity, innovation and commitment to meeting with diverse needs of investors.

She said: “Today, we are proud to introduce Halal Fund, a Sharia’s compliance investment vehicle designed  to cater to the ethical and financial needs of our investors.

“This one is a testament to our commitment to providing investment   solutions that align with our investors’ principle, ensuring that our clients can invest with confidence and peace of mind. I am confidence that the Halal Fund will open new avenues for growth and prosperity.

“Offering attractive returns, while adhering to the highest ethical standards, this one is not just an investment opportunity but a reflection of our dedication, responsible and sustainable investing.”

Also speaking, the Group Executive Director, Emerging Africa Group, Mahmoud Shuaib, said: “The Halal Fund represents more than just investment opportunity. It embodies our dedication to offering inclusive financial products to all that will align with our client’s values, while aiming to maximise their returns.

“This fund allows investors to grow their wealth, without compromising their ethical principles of life.  Halal Fund has been meticulously crafted by our experienced professionals in close collaboration with stakeholders to ensure   that it meets the highest standard of Sharia compliance in the country.”

He said the management believes that Halal Fund would play a crucial role in promoting financial inclusions, empowering individual and communities to achieve their financial goals while adhering to their ethical values.

The Managing Director/CEO of  EAAM , Adaku Ijara, noted that the company since established   in 2019 has consistently demonstrated strong financial performance, while adhere to core impact and regulatory requirements standard.

Ijara stated that the company as at 2023 financial year had a total asset of N20.72 billion across the company’s mutual funds, stressing that it has delivered high yield return, demonstrated its experts and commitment to investors.

She hinted that Halala is a Sharia compliant investment vehicle designed to meet the needs of investors seeking both income generation and capital preservation through ethical investments.

Ijara stated that the open-ended fund with an initial size of N1 billion would be invested broadly in diversified Sharia compliance financial instruments with fixed returns, such as FGN saving Sukuk, Sovereign Sukuk, corporates Sukuk, among others.

“Our goal is to provide a viable and investment option that aligned with Islamic principles, ensuring that all our investments are not only ethical but also profitable.

“Looking ahead, EAAM  remains steadfast on its mission to help our customers achieve all their financial goals. A diverse range of funds ensures that every investor’s needs are met, whether they seek short term gains, or long-term stability.  

“We are particularly excited about the launch of Halal fund which we believe will open new avenues for growth and prosperity. This Sharia compliance funds reflects our unwavering commitment to ethical investment, allowing our customers to trust us in managing their investments responsibly and accordance with their practice.

“We will continue to leverage on our expertise and experience to identify high quality investment opportunities that offer attractive returns,” she added.

The Founder and Chief Consultant at B. Adedipe Associates Ltd. Dr. Abiodun Adedipe, in a presentation titled “Nigeria’s half-year Economic performance and outlook Fund insights and Endorsement,” stated that in the last one year, Nigeria economy had recorded six major policies disruptions.

Adedipe from expert perspective  listed, fuel subsidy removal, banking sector recapitalisation, changes in business environment, unification in the foreign exchange market, unbanned on 43 items from official foreign exchange window and fiscal consolidation, among po

“In my view, it is time to begin to take position and to take advantage of the opportunities within the context of this product. There are challenges, and problems, yet there are opportunities,” he said.  He recommended to investors that as Nigeria is in the reset mode, their personal priorities should be reset too, stating that, “As we advocate for cut in the cost of governance and government leadership in buy made-in-Nigeria, we should do the same in our personal spaces.

“And we must look beyond now into the future, which hold positive promises that could start to unfold rapidly in another one year. Taking a position in Emerging Africa Halal Fund is a smart way to do that. Halal Fund is not targeted with interest rate,” he said.