Overview
 
 

  During recent months, Metropolitan Community Development Corporation, website www.metropolitancommunity.org with the help of Wachovia Securities, formerly known as Prudential Securities, website www.wachoviasec.com , Umbono Asset Management and Millennium Group Worldwide have met and developed an approach to work collectively in a manner which will allow the strengths of each organization to address the larger and more traditional infrastructure needs of historically disadvantaged Africans, Hispanics and Black Americans.

The country of South Africa is initiating the creation of a Private Equity Fund. The hope is for other African Countries to utilize some of their resources to supplement what South Africa will invest initially, which should result in a larger fund. The investments by the fund will be leveraged with funds from U.S. Government agencies, whose objectives are to assist in the development of foreign countries. At a minimum, the fund will invest an amount equal to the principal amount invested by each participating country, within that country. Some of the leveraged funds will be invested in other parts of Africa and emerging markets in the United States. 
 
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