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Fund I – Investing In Africa

Fund I focused on banking and telecoms opportunities across sub-Saharan Africa, where the fund typically held minority positions, supporting strong management teams – the companies in which Musa invested into from Fund I have gone on to become significant players in their respective markets.

Cal Bank

Cal Merchant


USD  1 million

Investment in a commercial bank in Ghana

CAL Bank has developed a network of over 40 ATMs

and 13 branches




USD  7,049,563 million

Has purchased 3,498,543 shares of Common Stock of

Ecobank Transnational Incorporated

Masese Fisheries

Masese Fisheries 


USD  3 million

Investment in a fishery in Zimbabwe

Masese supplies fresh water fish to the

local and export market

Logo for MTN Uganda



USD  7.050 million

Investment in a telecommunications

company in Uganda MTN-Uganda

currently has over 1.4M subscribers




USD 5 million

Kingdom Holding Africa division has purchased

156,972 shares of Common Stock of  Societe

Nationale Des Telecommunications Du Senegal (Sonatel)

UBA - United Bank for Africa

United Bank of Africa 


USD  7 million

Logo for Joina City

Joina Centre


USD 6 million

Has purchased a 21% interest in the Joina Centre,

a 21 story US$40 million office and retail complex

located In Harare, Zimbabwe, the country’s capital city.

Joina Centre will compliment the Harare skyline as

one of the largest commercial developments in the city,

offering the market nearly 30,000m2 of Class-A office

and retail space.

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