Thursday, April 18, 2019 UTC

AGF Magazine - March 2019 issue

  • We focus on fixed income opportunities in both public and private markets. Read on to find in which fixed income instruments and in which African markets to invest on pp. 10-11. In addition, Ashley Benatar of Ashburton Investments shares his views on benefits and risks of investing in mezzanine debt on p.22.
  • We speak with Jérémie Ceyrac, Head of Equity, Responsible Investments at Proparco to learn more about the French development institution, financial products on offer, recent investments in Africa and African impact investment scene (pp. 13-15).
  • This month’s market feature focuses on Nigeria. Sven Richter, Fund Manager, Drakens Capital, writes about his recent trip to the West African country and his observations. “While Nigeria is attractive as an investment destination, the GDP growth is a disappointment for a county that we expect to be one of the leaders in Africa,” he says (pp. 16-17).
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News > Private Equity > Deals

XSML makes follow-on investment in Maison Galaxy

Africa Global Funds
Jan. 15, 2019, 10:11 p.m.
474

Word count: 227

XSML, a fund manager active in Central & East Africa, has made a follow-on investment in Maison Galaxy, a retail chain based in Kinshasa, DRC. 

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XSML, a fund manager active in Central & East Africa, has made a follow-on investment in Maison Galaxy, a retail chain based in Kinshasa, DRC. 

Marcel Posthuma, Managing Partner at XSML, said: “In the last two years, Galaxy has successfully integrated and expanded its operations across multiple cities in DRC, despite a challenging environment. We look forward to continue supporting Galaxy in its quest to supply the general population with affordable retail products.”

Galaxy has been successful in tapping into the increasing demand for cosmetic and other popular consumer products in DRC and has expanded its retail network since ARF’s first investment in 2016 in several other cities in DRC. 

The new investment helps Galaxy to enhance its working capital. 

Galaxy was founded in 2014 and operates 30 stores in Bukavu, Goma, Kindu, Kinshasa, Kisangani, Kolwezi and Lubumbashi.
 
Ashiq Adatia, Managing Director of Galaxy, said: “After we integrated our two retail chains, Galaxy and Shaina, our focus now is on further stabilizing our supply-chain. The working capital financing provided by ARF is instrumental in achieving this.”
   
The follow-on investment in Galaxy, brings ARFs total committed capital to 80%. 

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

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