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AGF Magazine - April 2019 issue

  • In a region where only a minority of the population has access to a bank account and SMEs struggle to get financial help from traditional banks, Albert Alsina, CEO and Founder of Mediterrania Capital Partners, explains how the PE industry is becoming a catalyst for the African Fintech ecosystem’s development, enabling large-scale banking and supporting entrepreneurs and SMEs in their expansion plans (pp. 10-12).
  • In this month’s issue of Africa Global Funds, we also caught up with Kenneth Kaniu, Britam Asset Managers CEO, to learn about their anchor investment in Tiserin Capital, and the needs and constraints of institutional investors in Kenya and East Africa (pp. 14-15).
  • On the infrastructure front, we hear from Moritz Breickmann, Investment Director at African Infrastructure Investment Managers (AIIM) who showcases some successful airport redevelopments in Africa. Read on to find why airport infrastructure projects on the continent can provide attractive long term returns to investors (p.17).
  • In this month’s issue we also learn that the FTIF Templeton Africa Fund was merged into the FTIF Templeton Frontier Markets Fund. We speak with Ahmed Awny and David Haglund about the Fund and its African investments (p.16).
  • Finally, Rob Childs, Head of International for Prescient Fund Services shares his views on the global distribution challenges facing African fund managers and why the firm decided to domicile their offshore fund range in Ireland (p. 22).
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News > Private Equity > Deals

AfricInvest Fund III invests in LCR

Africa Global Funds
Nov. 26, 2018, 9:32 p.m.
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Word count: 429

AfricInvest, a Pan-African mid-cap-focused private equity firm, has invested in Les Centaures Routiers (LCR), the largest independent transportation company in Côte d’Ivoire.

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AfricInvest, a Pan-African mid-cap-focused private equity firm, has invested in Les Centaures Routiers (LCR), the largest independent transportation company in Côte d’Ivoire.

Hichem Ghanmi, Senior Partner at AfricInvest, said: “Les Centaures Routiers has managed to establish a strong brand and an excellent reputation in Côte d’Ivoire where it is recognized for its reliability and expertise. AfricInvest will draw on its experience in the logistics sector to provide the company with all the needed active support to deploy its new projects.”

AfricInvest Fund III, the firm’s third generation Pan-African fund, will provide LCR with €12.2 m of financing. 

The company will use the proceeds to (i) grow the existing business by reinforcing the company’s fleet of trucks (ii) invest in a new site that will consolidate all the freight transport and logistics activities by including a new state of the art logistics platform and (iii) meet the increasing working capital needs of the group.

Founded in 1953 by Jean-Jacques Delsuc, LCR is a leading transportation company mainly present in road freight transport in Côte d’Ivoire. 

LCR moves a wide variety of goods such as oil & gas, palm oil, sugar, beverages, and containers. The company also offers basic logistics services such as warehousing, handling and space rentals. 

LCR operates a fleet of 350 trucks as well as other transport and handling equipment spread over different sites in Côte d’Ivoire.

Through its investment, AfricInvest aims to support LCR’s ambition to become one of the main independent local logistics platforms in Côte d’Ivoire and to contribute to filling the current gap in the logistics sector in West Africa.

Cheikh-Souleymane Diallo, Senior Manager at AfricInvest, said: “We are proud and happy to support LCR and the Delsuc family in deploying a new strategic vision as well as enhancing its governance to achieve it projected growth in the region and bring a key support to the private sector in the region.”

Bertrand Delsuc, CEO of Les Centaures Routiers, said: “We are pleased to partner with AfricInvest to take our company to the next level. We believe that the trusting relationship we have built will foster the development and growth of our new organization.”

Anne-Marie Delsuc, Chief Administrative officer and Partner, said: “The arrival of an institutional investor with a solid experience in logistics on which we can capitalize, will certainly contribute to the growth and sustainability of our activities.”

Olivier Delsuc, Deputy CEO, added: “ This important step in LCR’s transition and transformation process is highly welcome. This partnership will foster the development of the company by reinforcing its strong foundation.”

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