FUND VIEW-SABMiller, MTN among picks-Africa fund

Thu Jun 17, 2010 4:00pm GMT

* Brewer SABMiller, telecoms cos MTN, Safaricom attractive

* Rapid urbanisation of Africa provides opportunities

* World Cup could help S.Africa image

By Carolyn Cohn

LONDON, June 17 (Reuters) - Telecom companies MTN (MTNJ.J: Quote) and Safaricom (SCOM.NR: Quote) and brewer SABMiller SAB.L are among stocks favoured by a new U.S. mutual fund focused on Africa, as they take advantage of rising infrastructure needs and consumption.

Larry Seruma, manager of the Nile pan-Africa Fund, said movement in Africa towards big towns has thrown up the need for new housing, roads, airports, bridges, telecom connections and consumer goods.

"From Cairo to Cape Town, Africa is urbanising at a faster rate than India," Seruma told Reuters in a telephone interview.

"Infrastructure is the theme of the next 20-30 years, another theme is consumer growth."   Continued...

Powered by Reuters AlertNet. AlertNet provides news, images and insight from the world's disasters and conflicts and is brought to you by Reuters Foundation.