Monday, December 11, 2017 UTC
News > Private Equity > Deals

ARF makes first investment in Uganda

Africa Global Funds
May 22, 2017, midnight
82

Word count: 223

The African Rivers Fund (ARF), managed by XSML, has made its first investment in Uganda in KARE Distribution (KARE), a wholesaler and distributor of essential consumer goods. 

Receive ONE magazine and TWO locked articles of your choice for FREE when you register an account
Share:

The African Rivers Fund (ARF), managed by XSML, has made its first investment in Uganda in KARE Distribution (KARE), a wholesaler and distributor of essential consumer goods. 

As a distributor, KARE helps locally manufactured brands to sell their products as water, soap, detergent and vegetable cooking oil, to low-income households. 

ARF financing will be used to open a new supermarket in a populous neighborhood in Kampala, which currently has no outlets.

ARF targets growing, well-managed small and medium-sized enterprises (SMEs) in the Central & East African region covering Democratic Republic of Congo (DRC), Uganda and Republic of Congo as well as - over time - Burundi. 

Jarl Heijstee, Managing Partner at XSML, said: “KARE Distribution is pioneering a wholesale model with added distribution capabilities that enables them to deliver basic consumer goods to the low-income population via small retail outlets, schools and hospitals in and around Kampala. Their distribution model enables these small shops and supermarkets to reduce their costs and have up to date stock levels.”

Geoffrey Karegyeya of KARE, added: “With the financing from XSML we are able make this long term investment and integrate forwards by operating our own supermarket. In addition XSML is helping us with their network in DRC to open up the Congolese market so we can distribute our goods in East-Congo.”

 

Registration Login
Sign in with social account
or
Lost your Password?
Registration Login
Sign in with social account
or
Registration Login
Registration