The Maersk family's Africa fund, A.P. Møller Capital will now make its first investment and place a bid alongside a British state-owned fund on a Zambian utility, reports Danish media Berlingske Business. The energy company is state-owned Cobberbelt Energy Corporation and if the plan is successful, this will be the fund’s first acquisition, which will help develop the infrastructure in the African nation.
"The electricity network in Zambia is underdeveloped. There is a shortage of capacity and there are often breakdowns in the power supply which ultimately puts a serious damper on the economic growth," says CEO Kim Fejfer of A.P. Møller Capital to the newspaper.
Get full access for you and your coworkers.Start a free company trial today
Already a member? Log in.