Kingdom Zephyr to invest in Kenya and others

16/03/2011 - Kenya property & investment news Posted by Neil King
Kingdom Zephyr to invest in Kenya and others

Kingdom Zephyr is set to invest around $300 billion in six or seven companies across Africa over the next three years.

The private equity fund, which focuses its investment on Africa, is already in the process of investing more than $400 million of committed capital from a 2008 fund in the continent.

Among the countries set to benefit are Kenya, Nigeria, Egypt and South Africa, the Independent Online reported.

Speaking at the Reuters Africa Investment Summit in Johannesburg, Kofi Bucknor, managing partner of the fund, said: "Our focus will continue to be around the investment opportunities coming from the consumption patterns of the growing middle class in Africa as they relate to industries such as banking, insurance, housing, telecommunications and cement."

He added that consumer spending in Africa is expected to have roughly doubled by 2020 as disposable incomes continue to rise.

Mr Bucknor noted that large markets with companies of critical size are the "obvious places to look" when seeking investment opportunities in Kenya and other African countries.ADNFCR-2019-ID-800465659-ADNFCR