STANLIB Fahari I-REIT

IFC investment of up to US$15 million-equivalent in STANLIB Fahari Property Income Fund Income Real Estate Investment Trust (“STANLIB Fahari I-REIT”), a US$125 million-equivalent I-REIT in Kenya which will be listed on the Nairobi Securities Exchange. The I-REIT will own and manage existing, income-generating real estate properties. STANLIB Fahari I-REIT will be the first I-REIT to list in Kenya following enactment of The Capital Markets (Real Estate Investment Trusts) (Collective Investments Schemes) Regulations, 2013. The listing of the I-REIT is subject to Kenyan regulatory approval. Successful establishment of Real Estate Investment Trusts as a liquid financial instrument used to gain exposure to Kenyan real estate help unlock significant capital resources to fund Kenya’s real estate gaps.