Africa & Indian Ocean.

Origination dominates the region. Four positions sit here: three South African animal-health and agri-science businesses and one East African aquaculture operation. Mauritius is the platform through which African and India-facing positions are held, which separates the holding structure from the country of operation and keeps the underwriting of each position independent of the others. Proceeds move to George Town before they are reallocated.

Johannesburg carries the origination work: veterinary vaccine producers, feed and animal-nutrition businesses and crop-science suppliers, several of them family-controlled. Two family relationships are covered from there. The Nairobi desk covers East African aquaculture and horticulture counterparties and books nothing of its own. Port Louis provides administration, fund services and the treaty analysis that makes the platform useful to counterparties investing into the continent and into India.

The 2030 phase of Programme Latitude is the African phase: the Port Louis platform is scaled, Johannesburg is expanded and the Nairobi desk becomes an office. The region shows the underwriting sequence at its plainest, because the biological assets it originates are the class of asset the founding partnership worked in before 2019, and every one of them is held to the welfare standards that travel with the capital.