LeapFrog Investments, a private equity firm, whose specialized funds have also attracted JP Morgan, AXA, AIG, Swiss Re, Prudential, The George Soros Foundation and other major institutions, recently announced that it is raising $400 million to make socially responsible investments in Africa (and Asia as well). LeapFrog has acquired a minority stake in Africa Finance Business Mauritius (AFB), an active financial start-up in four African countries.
AFB Mauritius provides solutions that enable mobile phone users to access insurance products, savings and credit, LeapFrog operates in Kenya, Ghana and Zambia and boasts more than 300,000 customers. LeapFrog Investments, in 2014, acquired a majority stake in the Kenyan company specializing in health insurance, Resolution Insurance, for 19 million dollars.
Specializing in financial services in Africa and Asia, LeapFrog invests primarily in companies active in the areas of insurance, savings, pensions and payments services and usually with customers who earn less than 10 dollars a day.
More and more of the world’s leading economic thinkers, financial institutions and corporate strategists are coming to the view that Africa provides an attractive investment opportunity for long term growth. They include investment guru George Soros, Unilever Managing Director Thabo Mabe, and UN Under-Secretary-General Abdoulie Janneh. All three are among those quoted in the latest Case for Africa review published by Alquity Investment Management.
According to Mr. Soros, Africa is “One of the few bright spots on the gloomy economic horizon”. Raj Hande, executive chairman at Africa Agro Group, believes that “Africa feels like India, 20 years ago. The best way to invest is through specialized funds and instruments.”
George Soros Foundation is a promoter of human rights, dignity and law, in order to help countries to achieve positive goals of progress. In turn, George Soros secures benefits that mature in the longer term. The aid organization helps to facilitate a favorable investment climate in the ‘targeted’ countries, improving the investment climate and creating the financial and physical infrastructure to facilitate investment.
George Soros is a master of financial speculation, one of the alchemists of finance. If Soros is getting involved in Africa, it is because he knows that he can profit from it.