Wealthy families plan investments in Africa

ONE Thousand & One Voices, a private equity scheme backed by « influential families » from around the world, established its Johannesburg office last week and is poised to invest $300m across various sectors in South Africa and sub-Saharan Africa. The movement, which says it will invest « relational, intellectual and patient financial capital » to generate investment returns and to have an effect on the continent, launched at the World Economic Forum in Cape Town in May. One Thousand & One Voices intends to start its investments with an initial $300m African fund, but intends to later target Latin America and South East Asia, and possible further African investments. One Thousand & One Voices president and CEO Hendrik Jordaan says in less than six months, the movement has established « a world-class team » and has « secured sufficient commitments from leading families around the world, permitting us to launch and start doing deals in the continent of Africa ». One Thousand & One Voices has 15 families committed so far, although these families are mainly US-based and a more global investor base is being targeted. Leading the founding families of the movement is John Coors’s family. Mr Coors is the CEO of « the world’s largest manufacturer of technical ceramics », CoorsTek. Business Day