Growthpoint Properties has revealed plans to invest in Africa.
Real estate firm set to invest in Nigeria, Ghana, more
Growthpoint Properties is in a 50/50 partnership with Investec Asset Management to build a real estate management business in Nigeria and other African countries.
Thanks to a 50/50 partnership with Investec Asset Management, the real estate firm will have commercial real estate investments in Nigeria, Ghana, Namibia, Zambia, Morocco and other African countries.
According to Moneyweb, Growthpoint will invest $50 million(N9.9billion) into the business while the International Finance Corporation will invest $40 million (N7.95billion).
Although, this has just been made public, the CEO, Norbert Sasse, is saying that the company has been contemplating investing into the rest of the Africa for a while.
He said it had not happened earlier because of the company’s inability to find ‘the right’ partner.
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