The China Development Bank-backed China Africa Development Fund saw investments dry up this year amid Covid-19, with an internal management investigation and Africa’s lagging GDP and higher financial risks also causing pressure.
The Asian experience of development stands investors from the region in good stead when they do business in sub-Saharan African, says AML founder Baroness Lynda Chalker.
The South African asset manager is preparing to launch an A-share fund and sees a big opportunity to work with Chinese insurers. It is also eyeing expansion in Singapore.
The agreed joint venture with Kingdom Holding Company will invest in direct private equity deals in Africa and reflects fast-rising interest in the continent, including from Asia.
AsianInvestor and FinanceAsia jointly hosted the 2nd Annual Africa Investment Summit at the Conrad Hotel in Hong Kong on November 13.
AsianInvestor and FinanceAsia host the 2nd Annual Africa Investment Summit on November 13, 2013 at the Conrad Hotel Hong Kong.