@BusinessDaily

Sh1.55bn Catalyst funding set to benefit Kenyan firms

4 months ago, 1 Jan 15:52

By: Brian Ngugi

Mid-sized companies in Kenya are set to benefit from the backing of $15 million (about Sh1.55 billion) in a private equity investment fund by the African Development Bank (AfDB). AfDB said the East Africa focused fund, which is the second by Nairobi-based private equity firm Catalyst Principal Partners, will make acquisitions in the local mid-market segment across sectors focusing mainly on priority consumer staples, financial services, industrials and healthcare. “The board of the African Development Bank approved an equity investment of $15 million in a second-generation private equity fund investing in mid-market companies in East Africa,” said AfDB in a statement. “As the anchor investor in Catalyst Fund I, the bank is considering an equity participation of 8.6 per cent of the second fund’s capitalisation and an advisory committee seat to ensure that transparency, social, environmental and corporate governance best practices are adhered to both at the fund and portfolio company level,” added AfDB. Catalyst’s initial capital of $123 million (Sh12.6 billion) has been invested in nine companies in the region. The fund has acquired significant stakes in Kenya’s Jamii Bora Bank, Goodlife Pharmacy, Tanzania’s Zenufa Pharmaceuticals, Effco (heavy equipment leasing) and Chai Bora (food and beverage). Catalyst’s investors include development finance institutions, wealthy families and institutions seeking alternative investments outside the mainstream bond and stock markets. AfDB said the latest investment builds on its successful deployment of Catalyst Fund I. Catalyst Fund II aims at netting $175 million (about Sh18 billion) to be invested in low-income countries in eastern Africa. AfDB said Catalyst fund will work with its investee companies to create up to “130 jobs per year, ensure fair distribution of benefits across gender and age groups, and enhance the socio-economic welfare of communities.” “Catalyst has demonstrated ability to source proprietary deals and actively manage its investments, and has built a diversified regional portfolio of leading products and brands,” the PE fund’s chief executive, Paul Kavuma, said last March.
Read More


Category: business corporate news lifestyle economy opinion markets

Suggested

7 hours ago, 21:37
@BusinessDaily - By: Jackson Biko
The men behind Africa's tallest building

Meet the big dreamers putting up the iconic Sh20 billion Hilton Tower ...

Category: business news corporate economy markets opinion lifestyle
11 hours ago, 17:40
@CITIZENTV - By: Sophie Kinoti
African youth push for education budget boost

African youth push for education budget boost ...

Category: topnews news business
11 hours ago, 17:51
@CITIZENTV - By: Citizen
Madaraka Express nets Sh530m in 2017

Madaraka Express nets Sh530m in 2017 ...

Category: topnews news business
10 hours ago, 18:30
@BusinessDaily - By: Sarah Ooko
Vulnerable patients at risk of receiving ineffective treatment

Many malaria patients in high risk African countries are likely to receive doses of malaria medicine that are too low to offer effective treatment. ...

Category: business news corporate economy markets lifestyle
11 hours ago, 17:53
@BusinessDaily - By: Brian Ngugi
French tycoon’s graft charge casts spotlight on Bolloré in Kenya

The arrest on Tuesday and charging of French billionaire businessman Vincent Bolloré for alleged corruption is likely to receive attention in Kenya. ...

Category: business corporate news economy markets opinion lifestyle
11 hours ago, 17:32
@BusinessDaily - By: Brian Ngugi
National Bank shops for anti-fraud experts

National Bank is hiring forensic investigators and anti-fraud experts after a spate of high profile theft and cyber security incidents. ...

Category: business news corporate economy markets opinion lifestyle

@BusinessDaily

Sh1.55bn Catalyst funding set to benefit Kenyan firms

4 months ago, 1 Jan 15:52

By: Brian Ngugi
Mid-sized companies in Kenya are set to benefit from the backing of $15 million (about Sh1.55 billion) in a private equity investment fund by the African Development Bank (AfDB). AfDB said the East Africa focused fund, which is the second by Nairobi-based private equity firm Catalyst Principal Partners, will make acquisitions in the local mid-market segment across sectors focusing mainly on priority consumer staples, financial services, industrials and healthcare. “The board of the African Development Bank approved an equity investment of $15 million in a second-generation private equity fund investing in mid-market companies in East Africa,” said AfDB in a statement. “As the anchor investor in Catalyst Fund I, the bank is considering an equity participation of 8.6 per cent of the second fund’s capitalisation and an advisory committee seat to ensure that transparency, social, environmental and corporate governance best practices are adhered to both at the fund and portfolio company level,” added AfDB. Catalyst’s initial capital of $123 million (Sh12.6 billion) has been invested in nine companies in the region. The fund has acquired significant stakes in Kenya’s Jamii Bora Bank, Goodlife Pharmacy, Tanzania’s Zenufa Pharmaceuticals, Effco (heavy equipment leasing) and Chai Bora (food and beverage). Catalyst’s investors include development finance institutions, wealthy families and institutions seeking alternative investments outside the mainstream bond and stock markets. AfDB said the latest investment builds on its successful deployment of Catalyst Fund I. Catalyst Fund II aims at netting $175 million (about Sh18 billion) to be invested in low-income countries in eastern Africa. AfDB said Catalyst fund will work with its investee companies to create up to “130 jobs per year, ensure fair distribution of benefits across gender and age groups, and enhance the socio-economic welfare of communities.” “Catalyst has demonstrated ability to source proprietary deals and actively manage its investments, and has built a diversified regional portfolio of leading products and brands,” the PE fund’s chief executive, Paul Kavuma, said last March.
Read More

Category: business corporate news lifestyle economy opinion markets

Suggested

7 hours ago, 21:37
@BusinessDaily - By: Jackson Biko
The men behind Africa's tallest building

Meet the big dreamers putting up the iconic Sh20 billion Hilton Tower ...

Category: business news corporate economy markets opinion lifestyle
11 hours ago, 17:40
@CITIZENTV - By: Sophie Kinoti
African youth push for education budget boost

African youth push for education budget boost ...

Category: topnews news business
11 hours ago, 17:51
@CITIZENTV - By: Citizen
Madaraka Express nets Sh530m in 2017

Madaraka Express nets Sh530m in 2017 ...

Category: topnews news business
10 hours ago, 18:30
@BusinessDaily - By: Sarah Ooko
Vulnerable patients at risk of receiving ineffective treatment

Many malaria patients in high risk African countries are likely to receive doses of malaria medicine that are too low to offer effective treatment. ...

Category: business news corporate economy markets lifestyle
11 hours ago, 17:53
@BusinessDaily - By: Brian Ngugi
French tycoon’s graft charge casts spotlight on Bolloré in Kenya

The arrest on Tuesday and charging of French billionaire businessman Vincent Bolloré for alleged corruption is likely to receive attention in Kenya. ...

Category: business corporate news economy markets opinion lifestyle
11 hours ago, 17:32
@BusinessDaily - By: Brian Ngugi
National Bank shops for anti-fraud experts

National Bank is hiring forensic investigators and anti-fraud experts after a spate of high profile theft and cyber security incidents. ...

Category: business news corporate economy markets opinion lifestyle
Our App