Development Partners to Boost Africa Investments by $750 Million

Development Partners International, a London-based private equity fund that invests in sub-Saharan Africa, plans to spend as much as $750 million on projects in the region over seven years, said Chief Executive Officer Runa Alam.

The fund is looking for investment opportunities in banking, insurance, oil and gas, telecommunications and pharmaceuticals, she said in an interview in Accra, Ghana’s capital, yesterday, on the sidelines of a forum on venture capital in Africa. DPI is interested in “a whole spectrum of products and services demanded by Africa’s developing middle class,” Alam said.

The company has invested $400 million in the past four years in nine companies across Africa, including Kenya, Nigeria and Ghana, she said.