Woodford's Zimbabwe investment shines spotlight on Africa

AFRICA

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Investor spotlight was unexpectedly thrust upon Africa this week after it emerged renowned Invesco Perpetual manager Neil Woodford was taking a stake in a Zimbabwe-focused fund.

Woodford, the head of investments at the group, has reportedly committed $25m for a 29.5% stake in Masawara, an $80m fund set to begin trading on the AIM market this month. The Jersey-incorporated Masawara says following the recent stabilistation of the Zimbabwean economy - it is looking to obtain long-term capital growth through the acquisition of interests in agriculture, mining, telecommunications and real estate companies. Rejuvenation Under the rule of President Robert Mugabe, Zimbabwe's once prosperous agricultural economy was run into ruin. Hyper-inflation was a rampant feat...

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