Afrinvest Asset Management has launched the Afrinvest Halal Fund, an open-ended unit trust scheme that invests in Shari’ah-compliant fixed-income instruments such as Sukuk (federal government, state and corporate), Shari’ah-compliant equities and other contracts.
The launch follows approval by the Securities and Exchange Commission (SEC), reinforcing Afrinvest’s commitment to inclusive investing.
Shari’ah-compliant fixed-income instruments are financial tools that adhere to Islamic law, which prohibits interest-based transactions (riba). These instruments are used to raise capital while remaining consistent with Islamic ethical and moral principles. Instead of interest, they rely on profit-and-loss sharing, asset-backed structures, and other permissible contracts.
The Fund offers for subscription 25,000,000 units of N100 each at par, payable in full on application. Subscriptions are open to investors, who meet the Fund’s eligibility requirements, including retail, as well as high net-worth investors and corporates.
Speaking with the press during the launch of the Fund in Lagos, the group managing director of Afrinvest West Africa, Dr. Ike Chioke, said the firm was proud to be filling a significant gap in Nigeria’s investment space.
“We are selling 25,000,000 units at N100 each, and the interest we have seen from investors already confirms that the demand is real. There is a latent, underserved market for ethical investment options. This Fund is part of our larger strategy to provide accessible wealth-building solutions for all Nigerians,” he stressed.
Referring to the federal government’s recent issuance of a N300 billion Sukuk, which received over N2 trillion in subscriptions, Chioke said, ‘the level of oversubscription tells you all you need to know; Nigerians are ready for more faith-aligned, principled investment opportunities.’
The managing director of Afrinvest Asset Management Limited, Christopher Omoh, outlined key benefits of the Afrinvest Halal Fund to include income generation, Shari’ah compliance, professional management supported by a dedicated Shari’ah Advisory Board, diversification, as well as free entry and exit.
The Fund is open to both Muslim and non-Muslim investors seeking ethical, interest-free financial growth, he further stressed.
Manager of Afrinvest’s Kano Office, Mallam Kabir Ibrahim, stressed that the Fund creates a bridge between faith and finance, between belief and opportunity. According to him, the primary objective of the Fund is income generation for all investors. “Afrinvest Halal Fund is built on a portfolio that reflects Islamic investment principles. Funds are invested in Sukuk, interest-free, asset-backed instruments,” Ibrahim explained.
He added that the Fund would invest in Shari’ah-compliant equities and contracts that adhere strictly to Shari’ah investment guidelines, supervised by a Shari’ah Advisory Board.
