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Kisumu Concrete Products (KCP) Ltd yesterday inked an investment deal with Ascent Capital Advisory Services, making it the first company to attract Private Equity funding outside Nairobi.
The deal means the family-owned construction materials maker based in Kisumu will benefit from between Sh400 million and Sh1.4 billion ($4 million- $14 million) funding to scale up production. This is part of a Sh8 billion ($80 million) Ascent Rift Valley Fund, an SME private equity fund in Kenya, Uganda and Ethiopia.
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