"According to the Economist Intelligence Unit projections for economic
growth in 2014, five of the top 12 growing economies in the world will come
from Africa. These countries listed are: Sierra Leone, Libya, Eritrea,
Zambia and South Sudan"
http://www.ventures-africa.com/2014/06/rothschild-raise-530-million-for-african-investments/
Rothschild Raise $530 million For African Investments
June 30, 2014 Busayo Intelligent Investing, International, Investing
VENTURES AFRICA - Switzerland-based investment bank, Edmond de Rothschild
has raised $530 million for its first Africa-focused private equity fund.
Rothschild would raise dedicated funds for Africa alongside U.S.-based
Carlyle Group and Dubai's Abraaj, Financial Times said.
The fund which will be managed by Amethis Finance - a company which
operates from Nairobi and Abidjan. It will target small and medium sized
companies on the continent. Edmond de Rothschild holds major shares in
Amethis Finance.
Rothschild joins the growing list of foreign investors venturing into
Africa's burgeoning middle class and its booming economy.
According to the Economist Intelligence Unit projections for economic
growth in 2014, five of the top 12 growing economies in the world will come
from Africa. These countries listed are: Sierra Leone, Libya, Eritrea,
Zambia and South Sudan.
However, Africa remains cautious of these investments as some Economists
warned of profit-driven investors who may want to take advantage of the
continent's growth, without projecting inclusive development causes.
"The reality is that foreign investors come to Africa to make money and not
to be part of the solution to Africa's economic problems. It's, therefore,
upon African governments to innovate and come up with mechanisms that will
drive the continent's economic growth," Patrick Chinamasa, the Zimbabwean
finance minister had said at the 49th African Development Bank (AfDB)
Annual Meetings in Kigali in May.
Private equity investment however continues to grow in Africa. Early this
year, Carlyle secured nearly $700 million for its first sub-Saharan African
fund. Also, New York based global private equity company KKR invested $200
million of its $6.2 billion European for a stake in Afriflora, a leading
Ethiopian flower company this month.
In 2013, Africa drew in a total of $2.4 billion in Private equity funds,
almost three times of Helios Partners' $908 million investment to
Africathree years ago - the largest single private equity fund on the
continent.
Received on Mon Jun 30 2014 - 08:12:42 EDT