Why Bob Geldof says more Canadian investors should be in Africa right now

, Investment

Bob Geldof, the businessman, political activist and songwriter who made his name raising charity aid, said he was pressured to try private equity as a way of making an impact.

MONTREAL — Irish rock star Bob Geldof didn’t mince words when he told a room full of financiers that they should be looking for investments in Africa right now. 

“Where else are you going to go in the current world that offers you the sort of returns that Africa is offering? Are you in commodities? Are you in equity? Look at the market — it’s crap,” said Geldof during a speech in Montreal at the CFA Institute’s annual conference for investment professionals. 

“The job of you guys is to take care of your clientsmoney. Surely you’ve got researchers down there that can answer these questions and if you haven’t, are you doing your job?”

Geldof, the businessman, political activist and songwriter who made his name raising charity aid, is also founder of the 8 Miles Fund, a pan-African private equity firm focused exclusively on investing on the continent. Perhaps best known for organizing the 1985 Live Aid charity concert to raise funds for relief of the Ethiopian famine, Geldof said he was pressured to try his hand at private equity as a way of making an impact.

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