Emerging African Consumers

In FT's BeyondBrics:

courtesy of the FT

If you weren’t already convinced of Africa’s growth story, here’s another quote to add to the ever-growing chorus of investors keen on the continent, courtesy of Mark Richards of Actis, one of the biggest private equity funds focused on emerging markets. He tells beyondbrics that “Africa is our DNA.”Actis has backed a 100 per cent management buyout of a leading Egyptian credit card chip maker on Tuesday. The $30m deal, which highlights the importance of the emerging African consumer, comes as private equity hawks circle the continent, and Indian and Chinese companies come rushing in.

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