Insuring the South African Sanlam and Ubuntu-Botho, the investment holding of the mining magnate and black billionaire Patrice Motsepe, plan to launch an investment fund dedicated to Africa and endowed with 500 million dollars, reports the daily African Economic Business Day on July 24.
According to the director of the investment branch of the Sanlam group, Johan van der Merwe, the two companies should together contribute $ 200 million to this fund. The rest should be raised with investors interested in the potential of the continent.
The new fund will invest in several promising sectors such as mining and financial services.
Note that the Ubuntu-Botho holding company has an approximately 14% stake in the Sanlam group. This stake is currently valued at more than 20 billion rand (about 1.6 billion dollars).
Read on http://www.agenceecofin.com/investment/2407-30974-sanlam-et-patrice-motsepe-vont-lancer-un-fonds-d-investissement-panafricain-de-500-millions
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