PSG Group says it is “now ready” to expand its interests to the rest of Africa and has the capital to fund acquisitions.

Businessday reports that the diversified investments holding company is ready to move into the emerging African market. The JSE listed company  highlighted its eagerness to fund acquisitions.  Though no hint was made on how much it can fund.

PSG CEO, Piet Mouton, says he is under no illusion that investing in Africa will be a walk in the park, although the rewards can be significant “if you get it right”.

PSG joins a growing list of South African companies and international investors following a northward trend towards Sub- Saharan Africa, searching for opportunities in sectors such as consumer services, infrastructure and mining.

The company is attracted by the potential of emerging economies in Africa, such as Ghana, Nigeria, Uganda and Kenya, which economists say will over the next 10 years experience some of the highest economic growth rates.

According to Mr Mouton, PSG has established PSG Africa whose sole mandate is to “trawl” the region for opportunities. Although he did not identify markets the group is interested in, but deals announced in the past week shows its tendency to concentrate on Southern Africa.

In SA, PSG has invested in sectors such as financial services, agro-foods and private education.

Its prized asset is Capitec Bank, in which it owns nearly 35% and sees a long-term value based on the bank’s planned expansion over the next few years.