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Dubai-based Maser Group plans to invest $1.6 billion in Nigeria, Ghana, and Kenya over the next 24 months in the food and digital infrastructure sectors, according to a Bloomberg report.
The group has already paid $300 million on acquiring land and other asset-backed projects, Chairman Prateek Suri told Bloomberg.
MDR Investments, a unit of Maser, and China’s Chia Ventures will provide most of the required funding, he said.
The group is in talks with some Taiwanese companies about forming a joint venture to open data centres in Africa, Suri said.
Suri owns 56 percent stake in Maser Group. People’s Insurance Co. of China-backed Chia Ventures holds 30 percent while TPA Electronics Co. owns the remaining 14 percent stake.
(Writing by P Deol; Editing by Anoop Menon)
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