Afrinvest Asset Management has unveiled the Afrinvest Halal Fund, an open-ended unit trust designed to channel investments into Shari’ah-compliant financial instruments. With approval from the Securities and Exchange Commission (SEC), this initiative marks a strategic move to expand ethical investing and cater to the growing demand for faith-based financial products in Nigeria.
The Halal Fund will primarily invest in Sukuk non-interest, asset-backed Islamic bonds issued by the federal and state governments as well as corporate entities alongside Shari’ah-compliant equities and other Islamic finance contracts. These instruments adhere strictly to Islamic financial laws, which prohibit interest (riba) and speculative transactions, focusing instead on profit-sharing, risk-sharing, and tangible asset-backed activities.
A total of 25 million units are now open for subscription at N100 each, fully payable upon application. The offer is open to both retail and institutional investors who meet the Fund’s eligibility criteria, including corporates and high-net-worth individuals. By offering flexible entry and exit, the Fund encourages broad participation while ensuring liquidity for investors.
Speaking at the launch event in Lagos, Group Managing Director of Afrinvest West Africa, Dr. Ike Chioke, described the Fund as a timely and necessary intervention in Nigeria’s investment landscape. “There is a significant gap in our financial system when it comes to ethical and faith-aligned investment vehicles. This Fund is about inclusion, it’s about empowering Nigerians who want to grow wealth in ways that align with their values,” he said.
He referenced the federal government’s recent N300 billion Sukuk issuance, which received an overwhelming N2 trillion in subscriptions, as evidence of rising demand for ethical finance. “That level of oversubscription is proof that Nigerians are not only ready but eager for principled, value-based investment opportunities,” he added.
Managing Director of Afrinvest Asset Management Limited, Christopher Omoh, emphasized the Fund’s core benefits. “Investors can expect steady income, compliance with Islamic law, professional fund management overseen by a dedicated Shari’ah Advisory Board, and broad diversification. It’s also accessible entry and exit are free, which makes it easier for more people to participate.”
Omoh also highlighted that the Fund is open to all Nigerians, regardless of religious background, who are looking for responsible and interest-free alternatives for financial growth. “This isn’t just for Muslims. It’s for any investor interested in ethical investing, in growing their portfolio without compromising on values.”
From Afrinvest’s Kano office, Mallam Kabir Ibrahim echoed these sentiments, calling the Fund a bridge between belief and economic empowerment. “Our goal is simple: generate income for investors through ethical means. We are investing in assets that comply with Islamic values—not just in name, but in substance, guided closely by our Shari’ah Advisory Board.”
According to him, the Fund’s investment strategy will center on conservative but impactful instruments, ensuring both compliance and performance. “This is not about charity; it’s about building real, long-term wealth through principled investing,” he noted.
Afrinvest’s launch of the Halal Fund comes at a critical time for Nigeria’s financial sector, as more institutions and investors seek alternatives that align with ethical, environmental, and religious values. With a solid structure, regulatory backing, and a clear value proposition, the Afrinvest Halal Fund positions itself as a pioneering product in the growing space of Islamic finance in West Africa.
As the Nigerian market continues to diversify, initiatives like this underscore a broader trend toward inclusive finance that respects cultural and religious diversity while promoting economic participation for all.
