Abu Dhabi’s International Resources Holding (IRH) has signed a landmark agreement with South Africa’s Public Investment Corporation (PIC) to invest in crucial rail infrastructure and green energy projects, aiming to drive economic growth and sustainable development in the region. The collaboration, announced on Monday, will not only enhance South Africa’s logistics capabilities but also support the country’s transition from coal-powered energy to cleaner, renewable sources.
IRH, a subsidiary of the United Arab Emirates’ wealthiest company, International Holding Company (IHC.AD), brings its expertise to Africa’s largest asset manager, PIC, which oversees assets worth 2.89 trillion rand ($169 billion) in key sectors such as mining, agriculture, manufacturing, and real estate. This partnership is set to unlock potential across multiple sectors, contributing to long-term growth.
One of the agreement’s main goals is to tackle South Africa’s persistent challenges in freight rail and port infrastructure. By addressing bottlenecks, the collaboration will help speed up the movement of goods, boosting trade both locally and across Africa. South Africa’s state-owned logistics company, Transnet, has been struggling with equipment shortages and underinvestment, but this new investment promises to bring improvements that will benefit businesses and communities alike.
Beyond logistics, the partnership also aims to revitalize underperforming and undeveloped mining assets in South Africa, bringing them to full production. These improvements are expected to create jobs, increase export capacity, and strengthen South Africa’s position as a key player in global mining.
IRH’s involvement in Africa doesn’t stop with South Africa. The company has already acquired a 51% stake in Zambia’s Mopani Copper Mines and is seeking additional copper assets as part of a larger effort to secure critical metals needed for the global shift towards clean energy. IRH also has operations or projects in Angola, Burundi, the Democratic Republic of Congo, Tanzania, Zambia, and Zimbabwe, further showcasing its commitment to driving growth and development across the continent.
This partnership represents a major step forward for Africa’s infrastructure and clean energy transition, offering new opportunities for regional integration, job creation, and sustainable development.