The African Union and a unit of Temasek Holdings Pte (SMEC) are considering backing a plan to develop as many as 123 new cities across Africa, as reported ( by Bloomberg. The plan has been developed by Africa123 (

”The Africa Foresight Fund is proud to be participating in a very exciting multigenerational Pan-African development vision. The company is pleased to have been able to assist in bringing together industry players – Africa123 and SMEC – for this exciting opportunity, with the ultimate goal of leading in green urbanism for African generations to come,” says Jacques NdoutouMvé, co-founder and director of the Africa Foresight Fund (AFF). ”For investors, from institutional funds to family offices, the African continent is globally significant and will be a centre of gravity in the very near future”.

SMEC is a global infrastructure advisory firm that’s owned by a unit of Singapore’s Temasek, which holds a portfolio of roughly $300 billion.

The Africa Foresight Fund (AFF) is currently presenting investors with Milkwood City (, just north of Cape Town, a major project in the Africa123 portfolio: ”A green city of the future in beautiful South Africa,” says NdoutouMvé. ‘’The land opportunity underpins an incredible new urban centre.’’

AFF is a South African-based private equity fund company with a representative office in Toronto, Canada. Email

Source Africa Foresight Fund