Aureos Africa Fund, a newly created private equity firm, plans to invest $253 million in Africa after securing the funds from its investors.

The Fund which is a subsidiary of Aureos Capital Limited in Mauritius announced that it will invest the cash in various unlisted but booming mid-sized African businesses.
 
Aureos made its investment decision to take advantage of the opportunities presented by fast economic growths in Africa and scrapping of regional trade barriers.  Many African counties are currently experiencing an average annual growth rate of 6 per cent.

Aureos, without disclosing names, indicated that it will focus on medium sized companies with potential to grow across Africa. The company’s regional managing director Davinder Sikand said medium-sized businesses are becoming key players in domestic demand and supply chains, making them well-placed to pursue regional growth strategies.

Investors subscribing to Aureos fund  include Commonwealth Development Corporation, Norwegian Fund, International Finance Cooperation (the private sector arm of the World Bank), European Investment Bank, and private sector investors.