The second close of East African Catalyst Fund has achieved $155 Million
With commitments from regional investors increasing by a factor of 50 per cent for Catalyst Fund II, the emergence and mobilization of local capital marks the coming of age of the regional private equity industry.
The first Catalyst Fund raised to $125 million which it invested in 9 companies in Kenya, Tanzania and Ethiopia with diverse interests in manufacturing of consumer goods, pharmaceuticals, industrial agro-processing, logistics and engineering as well as healthcare, technology and financial services.
In launching its second fund, Catalyst cements its position as the leading regional private equity fund manager with the largest pool of funds under management amongst its peers dedicated to the East African region.
This is about Ksh 15.5 billion of capital commitments from leading international and regional investors, as a successor to Catalyst Fund I, a $125 million fund raised in 2009.
Tanzania's Cassava crop finds Market in China
The ongoing China-ASEAN Expo 2018 has promoted investment and trade opportunities in Tanzania, yielding positive results with some Chinese investors expressing interest in processing cassava starch.
The good news comes amid the 1 billion US dollars (about 1.22trl/-) agreement between the governments of Tanzania and China in commercialization of the tubers, which are on high demand in Asian countries, particularly China.
Speaking on the sidelines of the Tanzania Promotion Conference and Business Matching yesterday, the Managing Director of
Tanzania - Sweden To Address Trade Imbalance
Tanzania and Sweden are seeking to put in check the existing trade imbalance between the two countries. The two parties met to discuss the issue as well as look for ways to open new markets for their agricultural produce. Both parties have identified the potential in the sector and deem it ideal for business and more export opportunities to foster their economies.
Mr. Boniface Michael, the Acting Director of Trade Promotion at the Tanzania Trade Development Authority said they would, “equip our producers with the right knowledge and requirements for trading with the country (Sweden).”
AFRICA - THE NEXT GROWTH MARKET
Africa is currently home to five of the fastest growing economies in the world. According to a global study, the continent's economy is forecast to grow to $2.6 trillion in 2020 from $1.6 trillion in 2008, fuelled by booms in mining, agriculture and development of ports, roads and other infrastructure. This rapid economic growth is what is creating substantial new business opportunities in the region.
