Middle East investors slowly wake up to Africa
Addis Ababa, 13 May – (ANA) - Flush with cash from oil and stuck with few options for growth in developed markets, Middle East investors are increasingly looking to nearby Africa. While the fast-growing continent offers plenty of opportunities, bankers say there are also a raft of challenges for Middle East investors, particularly due to the relatively small size of potential deals. "We're seeing more interest. I think it's fair to say that we haven't seen a lot of that crystallise into deals so far," said Diana Layfield, Africa chief executive at Britain's Standard Chartered Plc. "The Middle Eastern sovereign wealth funds are very interested in Africa, the challenge that they face is the increment at which they need to invest is way too large for the continent at the moment," Layfield told Reuters in an interview on the sidelines of the World Economic Forum on Africa, held in the  Ethiopian capital  Addis Ababa. (ANA)
FA/ANA/13 May 2012------------