Harith focuses on infrastructure

harith focuses on infrastructure


harith runs the pan african infrastructure development fund (paidf), which was launched in june last year to assist with the "critical shortage of equity investment" in basic infrastructure in africa.

the fund was formed by eight investors who last year raised $625 million (r4.5 billion at yesterday's exchange rate) of the targeted $1 billion. the investors are the public investment corporation (pic), the development bank of southern africa, absa bank, old mutual, african development bank, the standard bank development group, liberty life, ghana's social security and national insurance fund and metropolitan.

the fund will invest in regional infrastructure developments across the continent, with particular focus on energy, transport, telecoms and water and sanitation.



the paidf will provide long-term equity financing and other forms of investment, such as structured finance and high-yielding debt, which will allow the fund to make above-average returns on capital.

harith is headed by tshepo mahloele, who resigned from telkom's board in january.

he was replaced by brian molefe, the chief executive of the pic, which owns about 15 percent of telkom. he also resigned from telkom's board in march, shortly before telkom announced its intentions to reduce its telkom media stake.

molefe is also a board member of harith fund managers.