The Abu Dhabi-run financial firm Invest AD is teaming up with Japan's SBI Holdings to invest up to $100 million in African businesses. The companies said Monday they will set up a fund management company that will focus on investments in Nigeria, Ghana, Kenya, Egypt, Tunisia and Morocco, according to a report of the Associated Press. The jointly run fund aims to invest in sectors such as banking, mining, consumer products and manufacturing. It will be funded equally by the two companies.
