Bloomberg: Ethiopia’s first private-equity fund will see investments of $100 million in the Horn of Africa nation, said Gabriel Schulze, chief executive officer of Beijing-based Schulze Global Investments, which is managing the fund.
“The market is ripe and ready for private equity capital,” he told reporters in the capital, Addis Ababa, today. “We believe Ethiopia presents opportunities across the board.”
CDC Group Plc, the U.K.’s development finance institution, will invest $15 million in the fund, while the Schulze family will commit $10 million, said Schulze. It will reach its limit of $100 million by September, he said.
The $100 million will be put into as many as 22 Ethiopian companies in agriculture, manufacturing, education, health care, real estate, energy and tourism, Schulze said.
Government policy and development of private industries makes Ethiopia ready for the investments, he said.
“In the past five years there’s been a noticeable development in private sector support and foreign investor support,” Schulze said.
To contact the reporter on this story: William Davison in Addis Ababa via Nairobi at firstname.lastname@example.org