The Prince In Africa –

2 Comments » June 4th, 2007 posted by // Categories: Favorite Articles

Why invest in Africa? For one of the world’s richest men, it is a simple matter of money and power.

For the past few years, Prince Alwaleed bin Talal Alsaud, nephew of the Saudi King and ranked by Forbes as the world’s 13th richest man, has been increasingly focused on business in Africa, from hotels in Kenya and Tanzania, to telecommunications companies in Algeria and Senegal, to banking across West Africa. He has plowed in a total of about $400 million, with early returns of 100% on some investments, he says, and is about to close an Africa investment fund worth another $500 million.

It is all part of a larger plan to build up Africa that also includes lots of humanitarian donations, investments in companies with a significant African presence, and the formation of an Arab investment nexus between Africa and China (and, if he can find players, the West).

"Africa is one of the last forgotten areas of the world," says the 52-year-old prince. "The opportunities are immense."

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2 Responses to “The Prince In Africa –”

  1. MoAl says:

    There is a wealth of opportunity in Africa … hopefully to build and grow our continent, and not exploit it — it looks like Prince Alwaleed bin Talal Alsaud is a good example one benefitting Africa through "humanitarian donations, investments in companies with a significant African presence" — amongst other things

  2. Dominic says:

    More importantly, we need to invest in our economies before we wake up one day and find it is all owned by foreigners. A situation where the communications infrastructure is largely owned by foreign entities, for example, can only be inimical to national security. YAdua and his people have been dragging their feet for one whole week now. I don’t see the electoral/political reforms anywhere in the horizon. They better get going with both the political and economic reforms so that those of us who are looking to invest more at home can get a clear picture of where the nation is headed.

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