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Mobius Looks At Private Equity as Way to Access African Growth
Mark Mobius oversees a total of US$53 billion in emerging markets. He said that he has considered tapping growth in African emerging markets through private equity investments.
Mobius is the executive chairman of Templeton Emerging Markets Group. He said in a phone interview from Moscow last June 28 that the company is looking at the private equity side of things in Africa. Templeton has around US$1 billion investments in Africa.
Between the years of 2007 and 2012, private equity fund managers have exited 118 investments in Africa. The exits had returned almost double according to a report in April by Ernst & Young LLP and the African Private Equity Venture Capital Association. Last year, the highest number of exits was recorded since before the global 2007 crisis.
Templeton Africa Fund owned by Mobius has its biggest investments in Nigeria, South Africa and Egypt. Mark Mobius said that there are a lot of opportunities in the African continent in terms of listed stocks.