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Wednesday, October 19, 2005

SAED Fund to Invest in Zambia Safari

Southern Africa Enterprise Development Fund (SAEDF) officials were in Zambia to explore investment opportunities. SAEDF is based in the United States of America (USA) and was established in 1995. It started its investment operations in 1998.

SAEDF is a brain child of the former US President Bill Clinton and the former South Africa’s President Nelson Mandela. The fund’s purpose is to stimulate small and medium enterprises in the Southern Africa Development Community (SADC) region by investing in ventures that would otherwise not attract capital. Its initial capital was US$100 million half of which has already been invested.

Zambian president Levy Mwanawasa grasped the bull by the horn. He invited SAEDF to look into the investment opportunities available in Zambia. This was during the Harvard University meeting Mwanawasa attended while in America for the United Nations (UN) General Assembly.

SAEDF director Peter Emerson said his organisation would explore investment opportunities in tourism, agriculture and other sectors with high yielding returns on investments. Emerson was in Zambia with his chief investment officer Richard Swai and another official Sam Tungande.

But then Zambia safari has its hands wide open to swallow all those beautiful ‘green bucks.’

SAEDF already has shareholding in southern Africa in the Africa Banking Corporation (ABC) group and the Loita Capital Partners. Mr Emerson was impressed by the opportunities associated with Zambia safari. He said in future his organisation will be back in Zambia more often to explore more investment opportunities. And a few in safaris opportunities are actually going begging.


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