African funds smooth the road to growth

A senior executive at a fund manager has an interesting take on aid and investment. “Investing in industry in Africa through funds is undoubtedly better than donating money to a charity that provides aid to the country,” he tells Euromoney. It’s maybe hard to seem sincere in the middle of a three-course meal at a City of London restaurant – particularly when the statement is followed by discussions on fund fees and double-digit returns. But he has a point, and an increasing number of institutional and private investors are realizing that they can support growth in local African economies, and receive the returns they are looking for, by investing in African funds or businesses.