Africa is to see a new investment fund launched byAttijariwafabank and Invest AD in a move to get on board the continent’s listed companies.

Attijariwafabank, the largest bank in Morocco,  and Dubai-based Invest AD announced the new joint-venture on Thursday, revealing that the team would be setting up the fund in order to get involved in investments on the African continent.

Both of the companies will provide financing for the investment fund, which will also be jointly managed by the asset-management branches of the two financing groups.

Investors are increasingly beginning to hone in on African business opportunities, as multiple national economies on the continent are showing signs of impressive growth.  The new fund sees the two companies position themselves in time for the impending growth spurt expected across Africa – much in line with global investor trends.

Explaining the decision to infiltrate the African market place by way of the investment fund, Chief Executive Officer of Invest AD Nazem Al Kudsi said: “Africa’s economic emergence is being driven by rising incomes and living standards across a broad cross-section of society, and across the whole continent – and this is partly due to increasing intra-regional trade and business links.”

Invest AD is through the fund in nonetheless taking an unusual risk by branching out of familiar territories.  Owned by the Abu Dhabi Investment Council (ADIC), the remit of Invest AD has so far been rather confined, seeing the financing firm focusing firmly on opportunities in countries more local to its parent.

The company has made a couple of forays onto the African continent, but always safely in the hands of a partner company.  In 2010, Invest AD set up a $75 million fund for Africa in partnership with Japanese-owned SBI Holdings, making its move in 2011 when the joint-venture invested in the Bank of Kigali initial public offering, reports Reuters.

Attijariwafabank, the third largest bank in Africa,  has become a well-known name across the continent in recent years, pursuant to its aggressive expansion across Northern and Sub-Saharan Africa – although it has avoided South Africa somewhat.