The closely held company, founded in 2014, is responding to Africa’s growing food security concerns and a fast-rising demand for digital infrastructure driven by cloud computing and AI adoption.

Maser has already deployed about $300 million into land acquisitions and other asset-backed projects on the continent, according to its founder and chairman, Prateek Suri.

The bulk of the funding will come from Maser’s investment arm, MDR Investments LLC, alongside China-backed Chia Ventures Co. MDR manages a $500 million fund and is also pursuing public-private partnerships with several African governments, including Tanzania, Zimbabwe, Zambia, Rwanda, and Nigeria, across sectors such as agriculture, mining, and affordable housing.

“We are in touch with certain companies in Taiwan who are ready to do a joint venture with us to open data centres in Africa,” Suri said during a virtual interview, signalling Maser’s intention to deepen its exposure to Africa’s digital economy.

Africa’s food import bill exceeded $83 billion in 2023, according to the UN Economic Commission for Africa, underscoring the urgency of boosting local agricultural production.

At the same time, the continent’s data centre capacity is projected to rise sharply to around 2.2 gigawatts by 2030, up from about 0.4 gigawatts today, requiring an estimated $20 billion in new investment, McKinsey & Co. has said.

Maser Group currently operates in Nigeria, Kenya, Ghana, South Africa, and Egypt, selling household appliances, including televisions, washing machines, and refrigerators.

Suri holds a 56 percent stake in the company, while China’s Chia Ventures owns 30 percent and TPA Electronics Co. holds the remaining 14 percent.