The bank will target investments in the oil and gas, mining and infrastructure sectors across Africa.
David Suratgar, chairman of the bank, says: “China and the Gulf will be critical to the future of Africa, especially with all the experience of project investment in the region from the past few years.”
In its efforts to attract Gulf money to Africa, the bank has established an office in Dubai and will look to open further offices in Bahrain and Kuwait in the next 12 months. MediCapital, which is headquartered in London, will also look to open up in China in the short-term.
MediCapital is working with the World Bank to sift 500 potential investment projects in Africa and identify 10-15 projects suitable for private-sector investment to bring to Gulf banks.