Adding to the list of its interests in East Africa, Kenyan private equity firm, Fanisi Capital has acquired a stake in Tanzanian agro-processor, Kijenge Animal Products for US$6 million.
The deal, which is the first of its kind in Tanzania for the firm, gives Fanisi a ‘significant minority’ of approximately 40% in Kijenge which is active in maize milling, animal feed production, and poultry farming and processing.
In a statement, Tony Wainaina, managing partner at Fanisi states, “We are supporting a company with a long history and a good brand name in the Tanzania market. The deal marks our first transaction in Tanzania and is in line with our sectoral focus area of agribusiness in the East African region.”
Acting beyond the role of capital investor, Fanisi will play an active role in Kijenge’s next phase of growth according to Mr. Wainaina.
Kijenge will use the capital to diversify its product offerings and improve its ability to meet its customers’ needs.
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