Saturday, April 20, 2019 UTC

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

Britam invests in Tiserin

Anna Lyudvig
April 14, 2019, 9:35 p.m.
240

Word count: 367

Britam Financial Holdings has approved an anchor investment in Tiserin Capital, Africa’s first south-south private equity fund that  seeks to transform local industries by weaving partnerships between African companies and leading companies from Emerging Asia and Latin America. 

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Britam Financial Holdings has approved an anchor investment in Tiserin Capital, Africa’s first south-south private equity fund that  seeks to transform local industries by weaving partnerships between African companies and leading companies from Emerging Asia and Latin America. 

The investment is a breakthrough in the region’s financial markets highlighting the important role pension funds, insurance and other local investors can play in supporting long term investments in the region. 

Benson Wairegi, Britam’s CEO, said: “Britam continues to set the pace on innovation and service in the Sub-Saharan Africa region. We are excited about this new partnership with Tiserin Capital that introduces us directly into the private equity space, an area with considerable potential in the region. German Vegarra and Aida Kimemia have developed an innovative approach that seeks to accelerate job creation and transform local industries, both so critical for countries like Kenya.”

Tiserin Capital is a partnership between Britam and CVG Capital LLC of the USA. 

The Fund focuses in real sector industries and targets investments in East Africa, Ethiopia, Mozambique and South Africa. 

The United Nations estimates that there is approximately $60bn in sub-Saharan Africa pension funds (ex-SA) that could be mobilized to support private equity and infrastructure investments in the region. 

Kenneth Kaniu, CEO of Britam Asset Managers, said: “Countries like Indonesia, India, Philippines, Peru and others have followed a socio-economic growth pattern that may provide regional economies a blueprint of what is to come to the region over the next decade. Leading companies from these countries can help local companies to accelerate their growth by transferring industrial and management know-how and strengthen their competitive base.” 

“We are always thinking of how to expand our investment offering to our institutional and high net worth clients. Alternative investments like private equity are rapidly gaining interest from our clients. Tiserin Capital puts us on the driver seat giving us valuable experience to grow our private equity investments,” he said. 

German Vegarra, CEO, Tiserin Capital, added: “We are delighted to have Britam as our partner. We are impressed by Britam’s regional expansion, its push for innovation, and the stamp of approval provided by leading investors like IFC, Swiss-Re and AfricInvest.”

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