Bob Geldorf Goes PEU
September 5, 2011 9:39 AM Subscribe
There are plenty of fund managers who want to be rock stars. Now, there is a rock star who fancies himself as a fund manager. Bob Geldof, the singer and campaigner for aid to Africa, is seeking to raise $1bn from institutional investors for a private equity venture on the continent. The pitch he is making represents a remarkable shift into African business for a man more often associated with his relentless advocacy for debt relief and aid to Africa.
posted by infini (34 comments total)
5 users marked this as a favorite
(Text Via FT
) Till date he has raised
$200m. Some are confused
. Others are snarking
. The Guardian's
interview by an Ethiopian born writer withHis longer answer is a typical mix of blithe assumption that the story of Africa to some extent tracks his involvement in it, an oblique reply to the charge that Africans should be treated as equals rather than just recipients of charity, and a display of his still hugely impressive commitment – vision, even. "So, in the 80s you dealt with the symptoms of a single, empirical financial problem, called poverty. The symptoms are hunger, lack of health, lack of education. The structures are, as ever, political and economic. That took 20 years, from Live Aid to Live 8. And then you move on – you have to try as hard as you can to get Gleneagles implemented – the debt issue was carried in the first eight months, and the G8 has done maybe 60%, maybe less, of what was promised. We're still chasing it. Meanwhile, there's another Africa opening up that's entirely part of the new world, and we'd better fucking get hip to it. And the best way I can do it is to illustrate what I mean, and that's by funnelling huge amounts of money into investing in dignity and lives and jobs so that they can construct their own countries, you know? So that's the next and possibly last step that I can contribute to."
Previously on rock stars