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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.
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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. 

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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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