VENTURES AFRICA – Schulze Global Investments, a Beijing-based private equity firm, has revealed plans to launch Ethiopia’s first private-equity fund will see investments of $100 million into several sectors.
Speaking to reporters in the capital, Addis Ababa, today Schulze’s CEO, Gabriel Schulze described the Ethiopian market as “ripe and ready for private equity capital”. He said the company believes “Ethiopia presents opportunities across the board.”
According to Schulze, CDC Group Plc, the U.K.’s development finance institution, will invest $15 million in the fund, while the Schulze family will commit $10 million. The fund will reach its limit of $100 million by September.
The $100 million will be put into as many as 22 Ethiopian companies in agriculture, manufacturing, education, health care, real estate, energy and tourism, Schulze added.
Recent government policy and development of private industries have been shaping investment in Ethiopia lately.