Zimbabwe fund seeks $100 million to ride recovery
An investment fund
plans to raise $100 million to buy assets in Zimbabwe ahead of a
hoped-for bounce back from the country’s status as an economic basket
case.
Masawara Plc has already secured a $25 million commitment from
one of Britain’s biggest investors, Invesco Perpetual’s Neil Woodford,
and its managers hope to achieve a total capitalisation of around $155
million. The new vehicle will invest in sectors where the
breadbasket-turned-pariah has a perceived comparative advantage, such
as mining and agriculture, its manager, Shingai Mutasa, told Reuters on
Monday.
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