On The Money - In Brief
- EMP Africa Management LP (“EMP Africa”) announced today that as of September 30, 2006 one of the Africa focused private equity funds it manages, the West Africa Growth Sicar (“WAGS”), had returned over 100% of shareholders’ invested capital with five remaining positions to sell. The continued strong performance of WAGS further solidifies EMP Africa’s position as a leading private equity investor in Africa with a demonstrated track record of success.
- Algérie Télécom has revealed plans to invest at least USD4 billion over the next three years to meet its self-imposed customer targets. Telecompaper quotes the telco’s CEO Slimane Khireddine, who says the firm is aiming to have signed up three million broadband internet users, six million fixed line customers and eight million cellular subscribers by 2009.