Fanisi Capital buys stake in Tanzanian agro-processor

NAIROBI: Private equity firm Fanisi Capital has bought a stake in a Tanzanian agro-processing company for $6 million (Sh600 million).

Fanisi said it had acquired a significant stake in Kijenge Animal Products Ltd - a maize flour-milling, animal feed-milling and poultry production firm based in Arusha. “This deal marks our first transaction in Tanzania and is in line with our sectoral focus area of agribusiness in the East African region,” said Fanisi Capital’s Managing Partner Tony Wainaina.

Kijenge’s Founder and Chairman Andrew Mollel said: “This partnership provides us with growth capital which will enable us to diversify our product offering.” With Kijenge, Fanisi has added yet another investment into its portfolio, which now stands at eight companies spread across the region.

The companies Fanisi has invested in include Haltons, a retail pharmacy chain; Ngare Narok Meat Industries, which processes and distributes meat products across the country and Hillcrest International Schools, a group of premier learning institutions focusing on British curriculum.

Others are: Prodev Group, a maize milling and commodity trading operation based in Rwanda; Sophar, a pharmaceutical wholesaler / distributor also based in Rwanda; Live Ad, an outdoor advertising firm based in Kenya and European Foods Africa Ltd, a Kenyan cold chain frozen foods' distribution firm.