Specialised Namibian Fund holds first close
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Musa Capital Namibia, an affiliate of the South African-based company, Musa Group, has recently held the first close of its Namibia Mid-Cap Fund.
Musa Capital Namibia, an affiliate of the South African-based company, Musa Group, has recently held the first close of its Namibia Mid-Cap Fund.
The fund has received NAD300m and is targeting NAD450m at its final close.
The Fund was launched with capital from the Government Institutions Pension Fund (GIPF), and is Musa Group’s third African private equity fund.
The Namibia Mid-Cap Fund is a NAMFISA registered investment vehicle organized as a Trust for the purpose of making quasi-equity and equity investments in private Namibian companies that provide goods and services in the following priority sectors: agribusiness, consumer related industries, financial services, and light infrastructure.
The investments position the Fund to act as a broad catalyst for economic, social and financial development.
“The Fund is designed to invest in companies that would not only generate a financial return for investor, but will also drive economic and social development,” commented Principal at Musa Group, Richard Akwei.
Additionally, the Fund’s focus on middle market companies drives Small and Medium Enterprise (SME) development, which in turn positions each investment to have the maximum transformational impact.
The investment strategy in Namibia was driven by a few factors but principally alignment with the Government’s Harrambee Prosperity Plan which seeks to address job creation, food security and SME development.
Importantly, consistent with Musa Group’s vision, the Fund will focus on supporting local black business ownership and transformation.