Nairobi has emerged as a dynamic hub for private equity firms, attracting investors with its robust economic landscape and entrepreneurial ecosystem. AfricInvest, Centum Investment Company, and Fanisi Capital are leading the charge, investing across diverse sectors like financial services, real estate, and technology. These firms are transforming East African markets by providing strategic capital and operational support to growing enterprises. For professionals seeking to connect with like-minded leaders in private equity and M&A, explore our community at alexejpikovsky.com/community.
AfricInvest
Investment Style: AfricInvest specializes in private equity investments across Africa, focusing on growth capital for small and medium-sized enterprises (SMEs). They aim to unlock value by providing strategic support and operational improvements to foster sustainable growth.
Portfolio Companies: AfricInvest’s portfolio includes Britam Holdings (financial services), Tunisie Leasing & Factoring (financial leasing services), Kiboko Holdings (conglomerate), and Silafrica (packaging solutions).
Founding Date: 1994
Number of Investment Professionals: Over 80 investment professionals
Assets Under Management: Approximately $2 billion
Key Investment Professionals:
- Zouhaier Tamim, Partner: Focuses on financial services and healthcare sectors, contributing to strategic growth initiatives.
- Vera Songwe, Senior Partner: Specializes in governance and policy framework, enhancing portfolio company performance.
- Karim Marini, Partner: Engaged in growth strategies and market expansion within the agriculture sector.
Recent Exits:
- Exit from Britam Holdings through a strategic sale to International Finance Corporation (IFC).
- Exit from UAP Insurance by selling shares to Old Mutual.
Recent Investments:
- Investment in Silafrica to expand and innovate in packaging solutions across Africa.
- Growth capital investment in Kiboko Holdings to support its diversification strategy.
Office Locations:
- Nairobi: Nairobi, Kenya, 3rd Floor, Courtyard Building, General Mathenge Drive
- Additional Offices: Tunis, Casablanca, Lagos, Abidjan, Cairo
Website: www.africinvest.com
Quote: “Our commitment is to catalyze sustainable economic development by investing in innovative companies that drive growth and prosperity across Africa.” – Zouhaier Tamim, Partner
Centum Investment Company
Investment Style: Centum Investment Company focuses on private equity investments across a variety of sectors including real estate, financial services, and FMCGs in East Africa. Their strategy involves active management and long-term partnerships to drive transformative growth.
Portfolio Companies: Centum’s portfolio includes Sidian Bank (banking), Almasi Beverages (beverage manufacturing), Athena Properties (real estate development), and Two Rivers Development (real estate).
Founding Date: 1967
Number of Investment Professionals: Over 30 investment professionals
Assets Under Management: Approximately $1.8 billion
Key Investment Professionals:
- James Mworia, CEO and Managing Director: Drives strategic vision and oversees investment activities across various sectors.
- Samuel Kariuki, Investment Manager: Specializes in real estate investments, managing key development projects.
- Christine Mweti, Senior Investment Officer: Focuses on financial services and FMCGs, contributing to portfolio expansion.
Recent Exits:
- Exit from Almasi Beverages through a sale to Coca-Cola Beverages Africa.
- Divestment from Sidian Bank, transferring ownership to a strategic banking group.
Recent Investments:
- Development of Two Rivers Mall, a major commercial and retail hub in Nairobi.
- Investment in Athena Properties to enhance and expand real estate assets.
Office Locations:
- Nairobi (Headquarters): Nairobi, Kenya, 5th Floor, Two Rivers Office Towers
Website: www.centum.co.ke
Quote: “Our strategy is to invest in opportunities that not only yield substantial financial returns but also contribute significantly to social and economic development in our region.” – James Mworia, CEO and Managing Director
Fanisi Capital
Investment Style: Fanisi Capital focuses on investing in high-growth SMEs across East Africa, particularly in sectors like healthcare, education, and agribusiness. Their approach centers on providing capital and strategic support to scale businesses with high impact potential.
Portfolio Companies: Fanisi’s portfolio includes Haltons Pharmacy (retail pharmacy chain), Kijenge Animal Products (agribusiness), and Hillcrest International Schools (education services).
Founding Date: 2009
Number of Investment Professionals: Over 10 investment professionals
Assets Under Management: Approximately $50 million
Key Investment Professionals:
- Alice Nyambura, Investment Director: Oversees healthcare and education investments, focusing on strategic growth and value creation.
- Paul Kavuma, CEO: Leads the firm’s vision and strategic direction, ensuring alignment with investment goals.
Recent Exits:
- Exit from Hillcrest International Schools through a sale to GEMS Education.
- Divestment of Haltons Pharmacy to LeapFrog Investments.
Recent Investments:
- Investment in Kijenge Animal Products to enhance production and expand market reach.
- Equity investment in a leading healthcare provider to broaden service offerings.
Office Locations:
- Nairobi (Headquarters): Nairobi, Kenya, 1st Floor, West End Towers, Waiyaki Way
Website: www.fanisi.com
Quote: “We empower SMEs to reach their full potential by providing not just capital, but also strategic partnerships and operational support that drive sustainable success.” – Paul Kavuma, CEO
Savannah Fund
Investment Style: Savannah Fund is a venture capital firm that invests in early-stage technology startups across Sub-Saharan Africa. Their strategy focuses on identifying and nurturing innovative tech-driven solutions with high growth potential in markets such as fintech, e-commerce, and edtech.
Portfolio Companies: Savannah Fund’s portfolio includes Twiga Foods (agri-tech), Sendy (logistics), and Moringa School (edtech).
Founding Date: 2012
Number of Investment Professionals: Over 5 investment professionals
Assets Under Management: Approximately $10 million
Key Investment Professionals:
- Mbwana Alliy, Managing Partner: Focuses on tech investments and mentorship for startup founders across the continent.
- Paul Bragiel, Partner: Provides strategic insights and fosters global partnerships to support portfolio growth.
Recent Exits:
- Exit from Sendy following significant growth and acquisition by a strategic investor.
Recent Investments:
- Investment in an AI-driven health tech startup to enhance healthcare accessibility.
- Series A funding for Twiga Foods to expand operations and technology platform.
Office Locations:
- Nairobi (Headquarters): Nairobi, Kenya, Nailab, Ngong Road
Website: www.savannah.vc
Quote: “Our mission is to unlock the potential of Africa’s tech ecosystem by investing in visionary founders and disruptive technologies.” – Mbwana Alliy, Managing Partner
Adenia Partners
Investment Style: Adenia Partners focuses on private equity investments in medium-sized companies across Africa, emphasizing value creation through active ownership and operational improvements. They invest in sectors like manufacturing, consumer goods, and business services.
Portfolio Companies: Adenia’s portfolio includes Quickmart (retail), Opham (pharmaceuticals), and Red Lands Roses (horticulture).
Founding Date: 2002
Number of Investment Professionals: Over 15 investment professionals
Assets Under Management: Approximately €400 million
Key Investment Professionals:
- Mathieu Maret, Partner: Specializes in consumer goods and operational transformation.
- Julien Lefilleur, Partner: Focuses on manufacturing sector investments and strategic growth initiatives.
Recent Exits:
- Exit from Quickmart through a sale to a regional retail group.
- Divestment of Opham in a strategic buyout transaction.
Recent Investments:
- Investment in a leading logistics company to boost operational capabilities.
- Equity investment in a top-tier packaging firm to expand production facilities.
Office Locations:
- Nairobi (Headquarters): Nairobi, Kenya, Westlands Business Park
- Additional Offices: Abidjan, Accra, Antananarivo
Website: www.adenia.com
Quote: “We are committed to creating sustainable value in our portfolio companies by driving operational excellence and strategic growth.” – Mathieu Maret, Partner
Conclusion
Private equity firms in Nairobi are transforming the local economic landscape by identifying and nurturing high-potential enterprises. Their strategic investments and operational expertise are creating pathways for sustainable growth and value creation. As the ecosystem continues to evolve, these firms will play a crucial role in shaping Kenya’s economic future.
For weekly deep-dive insights into successful business exits and acquisition strategies, subscribe to my YouTube channel at @alexejpikovsky. Stay informed and ahead of the curve.