Carlyle invests in sub-Saharan African region valued USD698

By Staff Reporter

Apr 21, 2014 03:18 PM EDT

Investment fund, Carlyle has committed an investment to the sub-Saharan African region. The US-based fund manager has already raised USD698 million, reported Ventures Africa.

Global investors along with African funds have been attracted to the growing middle class in the region. Financiers have been targeting clients with disposable incomes whose numbers are now getting higher.

According to Carlyle’s head of sub-Saharan Africa buyout advisory division Marlon Chigwende, the investment manager would give more attention to funds including the ICT, financial, consumer and transport markets.

On weekend, media outlet AFP News has reported that the investment manager has raised USD698 million which was up by USD200 million from its first target. Recently, Carlyle has investments in J&J Africa. The latter is a chain manger, transport business and export trading group based in Mozambique and offices in Tanzania.

Chigwende said, “The success of the fundraising reflects investors’ appetite for the strong economic growth that the region has experienced over the last decade, as well as the prospects for future economic development across the continent.”

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