Anglo African Agriculture (AAA) raised £500,000 from some “very well-known, high-net-worth City people”, including investment bank Zeus Capital, which made a “substantial” investment in AAA, according to sources close to the deal.
The group is now looking at opportunities in the African agricultural sector.
Monk told City A.M. he was looking at physical trading opportunities, such as providing the logistics such as trucks and warehouses, for agriculture businesses in sub-Saharan Africa. He is focusing on Tanzania, Ghana and Kenya.
Monk is joined on the board by Konrad Legge and Douglas Chikohora, a Zimbabwean with knowledge of African mining.
The shares were placed for 1p on PLUS Markets, recently acquired by Icap, but began trading at a premium yesterday morning.
“The aim of AAA is to make lots of money,” said Monk.