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Dubai sovereign fund ICD exploring investment opps with Dangote Group
October 1, 2014 / 6:43 AM / 3 years ago

Dubai sovereign fund ICD exploring investment opps with Dangote Group

DUBAI, Oct 1 (Reuters) - Investment Corporation of Dubai is exploring further investment opportunities with African conglomerate Dangote Group, the chief executive of the emirate’s fund said on Wednesday.

“We have been looking at Africa for a long time. We are looking to do more business with Mr. Dangote and we have some things that we are exploring at the moment together,” Mohammed al-Shaibani told an Africa-focussed investment event in Dubai.

Shaibani was speaking alongside Aliko Dangote, head of the Dangote Group.

ICD, which hold stakes in many of Dubai’s top companies including Emirates airline and Emaar Properties, bought a 1.4 percent stake in Dangote Cement last month for $300 million. (Reporting by Martin Dokoupil; Writing by David French; Editing by Olzhas Auyezov)

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