Gagan Gupta


Gagan Gupta is an Indian businessman and investor specializing in industrial development, infrastructure, mining, energy, logistics and sustainable investment in Africa. He is the founder and CEO of Arise, a leading pan-African infrastructure and logistics group operating in thirteen countries.
Beyond his role at Arise, he is founder and president of Equitane, a capital investment firm managing $4 billion in assets, and of Spiro, Africa's leading electric mobility company.

Early life and education

Gagan Gupta was born on May 10, 1975, in Rajasthan, India. He holds a Bachelor of Commerce from Delhi University and earned an All India Rank from the Institute of Chartered Accountants of India.

Career

Early career

Gagan Gupta began his career as a chartered accountant and management controller in the finance departments of Reebok and Reckitt Benckiser in India.
In 2008, he joined Olam International Limited, where he was appointed head of the company's Gabonese operations.
In 2010, he was successively appointed Country Manager, Group Operations Director in Central Africa, and Business Development Director at Olam International. In the same year, he initiated a public-private partnerships with the Gabonese government, implementing major projects to accelerate industrialization and infrastructure development. These PPPs include three main sectors :
In 2018, Gagan Gupta founded Arise, a company specializing in the development of integrated industrial platforms, ports and large-scale infrastructure across Africa.
Arise is structured into three divisions :
  • Arise Integrated Industrial Platforms is developing industrial parks in several African countries. Among its projects underway in 2025 is a $150 million industrial park in Malawi. The project is expected to create 132,000 direct jobs and 26,000 indirect jobs.
  • Arise Ports & Logistics specializes in port logistics operations. Its shareholders include A.P. Moller Capital, Olam International and Africa Finance Corporation.
  • Arise Infrastructure Services specializes in all other infrastructures.
In February 2021, Olam International entered into definitive agreements with Africa Transformation and Industrialization Fund, an Abu Dhabi-based investment fund established by Arise employees. The two companies closed the sale of Olam's remaining shares in Arise Integrated Industrial Platforms and Arise Infrastructure Services.
In October 2024, Arise IIP raises $443 million to finance its expansion, including $300 million from the Fund for Export Development in Africa, the development branch of Afreximbank and $143 million from Africa Finance Corporation. With this round of financing, Arise IIP's total capital exceeds one billion dollars.
In 2025, Arise is established Ivory Coast, Sierra Leone, Togo Bénin, Nigéria, Gabon, Tchad, Congo, Democratic Republic of the Congo, Senegal, Rwanda, Cameroon, Kenya and Malawi. The company has developed a model enabling African countries to make their raw materials production more profitable through targeted investments. By reducing the export of raw materials from Africa to Asia and other regions in favor of local processing, Arise is helping to reduce carbon emissions, shorten supply chains and reorganize national logistics infrastructures.

Expansion and diversification

Creation of Equitane

In 2024, Gagan Gupta renamed the Africa Transformation and Industrialization Fund into Equitane, a multi-sector investment conglomerate dedicated to sustainable industrialization and economic transformation in Africa. Unlike conventional investment funds, Equitane operates as a permanent capital investment structure, focusing on long-term development over short-term returns. Equitane operates in 14 countries.
The fund comprises five main activities:
  • Infrastructure: Equitane owns 24.08% of Arise IIP, supporting the expansion of industrial and logistics hubs across Africa.
  • Green mobility: The company owns Spiro, Africa's largest electric mobility company, pioneering sustainable transport solutions.
  • Manufacturing: Equitane holds investments in agro-processing, pharmaceuticals and ceramics, with projects designed to enhance Africa's local industrial capacity.
  • Mining: Equitane holds a minority stake in the Belinga iron ore project in Gabon, to promote resource transformation and industrial integration.
  • Finance: A $50 million investment fund to promote African entrepreneurship, with a long-term goal of expanding access to capital markets.
In March 2025, Equitane acquired a 9.7% stake in Zanaga Iron Ore Company, operator of the Zanaga iron ore project in the Republic of Congo. This $21.5 million transaction saw the withdrawal of Glencore, until then the majority shareholder, which had been inactive on the project. The Zanaga site, located in the Lékoumou region, contains an estimated reserve of 2.1 billion tonnes of iron ore. The operation also provides an opportunity to relaunch economic studies and to consider the formation of a consortium to build key infrastructure, including a 300km railroad line linking the deposit to the port of Pointe-Noire.

Entrepreneurship in sustainable development

With Equitane, Gagan Gupta created the electric vehicle startup Spiro, specializing in electric motorcycles. In 2025, Spiro is operating in six African countries: Togo, Benin, Rwanda, Kenya, Uganda and Nigeria.
Equitane is also behind Solen, a company focused on solar energy and electricity storage in Gabon, Benin, Togo and Chad. Solen operates 50 MW of active projects and is developing a further 300 MW. Solen is an independent power producer. It operates Ayémé Solar Power Station.
Gagan Gupta also founded the African Trade and Distribution Company, a vehicle designed to strengthen intra-African trade.
In 2021, Arise acquires 35% of Aera Group, which operates in the carbon credits market.
In 2023, Arise IIP acquires a 17.6% stake in Crystalchain, a French company specializing in supply chain transparency via blockchain.

Private life

Gagan Gupta is married with two children.
A long-distance runner, he initiated the organization of the Gabon Marathon, by making Olam the first official sponsor of this competition. In 2023, the race gathered 14,000 runners.

Awards

Gagan Gupta was named vice president of the Giants Club as a reward fostering sustainable and environmentally friendly industrialization, as well as the establishment of Africa's first carbon-neutral special economic zone. The Giants Club supports African governments in the protection of their natural resources, and promotes economic development.