Maser Group, a privately held company based in Dubai, has announced a plan to invest $1.6 billion over the next 24 months in agricultural projects and data centers across Nigeria, Ghana, and Kenya. Company officials stated the investment is aimed at addressing regional needs for digital infrastructure and food security.
The investment plan allocates funds to two distinct sectors. In technology, Maser Group intends to construct data centers in the commercial hubs of Lagos, Nigeria; Accra, Ghana; and Nairobi, Kenya. In agriculture, the company plans to acquire and develop 100,000 hectares, or approximately 247,000 acres, of farmland across the three countries.
In a statement to news outlets, Maser Group Chief Executive Officer Prateek Suri detailed the focus of the agricultural projects. The company plans to cultivate crops including rice, cashews, and palm oil. Suri cited what he described as a significant deficit in both data capacity and food production in the region as the primary driver for the investment.
The $1.6 billion initiative will be financed through a combination of debt and equity, according to the company.
This move represents a strategic shift for Maser Group, which originated as a manufacturer of consumer electronics, including television sets. The new investments in infrastructure and agriculture signal the company’s expansion into different sectors. The projects are scheduled to be developed over the coming two years.
