SOUTH African institutions, developers and listed-property players continue to expand their real estate footprints into the rest of Africa, creating more opportunities for investors to share in dollar-based returns offered by the continent’s burgeoning retail, office, industrial and residential property markets. Life assurer Momentum, in conjunction with developer Eris Property, last week announced details of its African Real Estate Fund, an unlisted $250m venture aimed at institutional and high-net-worth private investors. Initial projects earmarked for development include an office complex in Accra, Ghana, a retail centre in Maputo, Mozambique and an office and hotel project in Kigali, Rwanda. The fund, which has already raised $50m since its inception in January, requires a minimum investment of $1m. The head of Africa investment strategies at Momentum Global Investment Management, David Lashbrook, said the closed-ended fund was a capital growth play targeting a minimum interna...