Vincent Tchenguiz is to launch a 1bn rand South African private equity fund to invest in environmental projects. Sunday Telegraph

The £73m fund will be launched next month. Tchenguiz’s Consensus Business Group will subscribed to half the initial £29m tranche and the other half will come from the World Bank

Tchenguiz hopes to bring in international defence and aviation companies that have obligations to invest in South Africa because of past contracts from the government. He believes channelling those offsets into environmental programmes is a model that can be applied on a large scale with other countries.

It will invest in clean technology projects developed by universities such as Imperial College, London, and Montreal’s McGill. Some of the money will be invested in wind farms or solar energy sites that include property. About 75% will be used in South Africa and the rest in Madagascar, Angola, Botswana and Mozambique. The fund has a planned 10-year life.