African Alliance raises $700m
Jun 01, 2009
AFRICAN Alliance has raised private equity worth $700m to lend to small and medium enterprises (SMEs). “If a company wants to expand or grow, we give them money,†the chief executive officer, Tony de Castro, said.
By David Muwanga
AFRICAN Alliance has raised private equity worth $700m to lend to small and medium enterprises (SMEs). “If a company wants to expand or grow, we give them money,†the chief executive officer, Tony de Castro, said.
African Alliance provides investment banking services. The money will be given to SMEs in Uganda and other countries.“It is after the agreed period in which the company is expected to have grown that we share the profits according to the agreement and also recoup our capital. After that, we pull out and leave you to grow further,†he said at a breakfast meeting at Protea Hotel in Kololo, Kampala.
De Castro said they can also help people start a company but African Alliance must have shares in it. He said there are few serious entrepreneurs in Africa.
AFRICAN Alliance has raised private equity worth $700m to lend to small and medium enterprises (SMEs). “If a company wants to expand or grow, we give them money,†the chief executive officer, Tony de Castro, said.
African Alliance provides investment banking services. The money will be given to SMEs in Uganda and other countries.“It is after the agreed period in which the company is expected to have grown that we share the profits according to the agreement and also recoup our capital. After that, we pull out and leave you to grow further,†he said at a breakfast meeting at Protea Hotel in Kololo, Kampala.
De Castro said they can also help people start a company but African Alliance must have shares in it. He said there are few serious entrepreneurs in Africa.