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ARF makes first investment in Uganda

Africa Global Funds
May 22, 2017, midnight
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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. 

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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.”

 

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Africa Global Funds (AGF) is a monthly magazine for asset management professionals and institutional investors worldwide interested in the African continent. AGF was created as a relevant and engaging resource that can provide readers with an insight of what is going on in the African asset management space. Drawing on an intense dialogue with a constantly expanding group of key decision-makers in the industry, we cover traditional and alternative asset classes of African asset management. From this dialogue we work hard to produce a compelling blend of hard news, incisive commentary, detailed sector and regional reports, exclusive interviews and proprietary data.

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