Cash And Trade Magazine For Cash and Trade professionals in the Middle East
The Abu Dhabi financial services firm Invest AD and Japan’s SBI Holdings Inc (SBI) are establishing a new fund management company to invest in Africa, starting with capital of up to $100m.
The new fund will focus on Nigeria, Ghana, Kenya, Egypt, Tunisia and Morocco. It will invest in several sectors, including banking, mining, consumer products and manufacturing, through listed equities, initial public offerings (IPOs), as well as pre-IPO and unlisted equity.
The jointly-run management company plans to launch additional funds, which will be open to third-party investors, with strong interest expected from Asia.
This is the latest in a series of partnerships formed by Tokyo-listed SBI to invest in frontier and emerging markets. “We’re looking to expand SBI Group’s asset management activities across the world through collaboration with strong partners,” said Yoshitaka Kitao, representative director and chief executive officer of SBI Holdings.
“We’re delighted to be the strategic partner, and the eyes and ears for SBI Holdings in Africa, a continent of great opportunity,” said Nazem Fawwaz Al Kudsi, chief executive officer at Invest AD I.
“Fundamentals in the region are strong. There is improved stability, and we see immense future wealth potential – not only as a supplier of raw materials, but also in the growth of consumerism and in manufacturing bases.”
