Mark Mobius, who oversees $53 billion in emerging markets, said he’s considering private equity investments as a way of tapping growth in Africa.
“We are looking at the private equity side of things in Africa,” Mobius, executive chairman of Templeton Emerging Markets Group, said in a phone interview from Moscow on June 28. Templeton has about $1 billion invested in Africa.
Templeton Africa Fund has its largest investments in Nigeria, South Africa and Egypt.
UBS AG, the biggest Swiss bank, said in May it will expand its wealth-management services in Africa as economic growth rates surpassing 5 percent boost demand for banking services.