Monday, 15 January 2007, 12:10 GMT
Citigroup joins $200m Africa fund
US bank Citigroup has teamed up with private equity group CDC to invest at least $200m (£102m) in Africa.
Citigroup will invest $100m in its first African private equity fund.
The UK government-owned CDC group, formally called the Commonwealth Development Corporation, will match this amount.
The fund will provide opportunities for Africa's infrastructure, telecoms, manufacturing and energy industries, the CDC said.
"We believe that profitable investments in such areas are fundamental to creating wealth and alleviating poverty in growing economies," said CDC chief executive Richard Laing.
The investment brings CDC's total funds dedicated to Africa to more than $830m.
E-mail this to a friend
Related to this story:
Poor nations push investment boom
(16 Oct 06 |
Business
)
Citigroup has takeover ban lifted
(04 Apr 06 |
Business
)
Citigroup fined £14m by watchdog
(28 Jun 05 |
Business
)
Citigroup pays $2bn in Enron case
(10 Jun 05 |
Business
)
Citigroup in $15bn share buyback
(15 Apr 05 |
Business
)
'No charge' for Citigroup traders
(22 Mar 05 |
Business
)
RELATED INTERNET LINKS
Citigroup
CDC
The BBC is not responsible for the content of external internet sites
News Front Page
|
Africa
|
Americas
|
Asia-Pacific
|
Europe
|
Middle East
|
South Asia
|
UK
|
Business
|
Health
|
Science & Environment
|
Technology
|
Entertainment
|
Also in the news
|
Have Your Say
|
Business Contents:
Your Money
|
Economy
Companies
NewsWatch | Notes | Contact us | About BBC News | Profiles | History
~RS~q~RS~~RS~z~RS~19~RS~)