Finance

Vantage Capital commits $33 mln for minority stake in Promamec

Vantage Capital commits $33 mln for minority stake in Promamec
Friday, 05 May 2023 15:50

The investment is the mezzanine fund manager’s third in Morroco and 34th in Africa. The operation marks the exit of AfricInvest, which will leave Promamec after 5 years of collaboration.

Vantage Capital, the Africa-focused mezzanine fund manager, announced, Thursday (May 4), a €30 million ($33 million) equity investment in medical device wholesaler Promamec.  With this investment, Vantage Capital is acquiring a minority stake in the Moroccan wholesaler. 

The investment will finance Promammec’s new investments but, it still needs to be approved by Moroccan competition authorities. 

Naoufal Lahlou, CEO of Promamec, expressed his delight over the investment made by Vantage Capital, a renowned pan-African investment firm. He mentioned that Vantage Capital would support them in their strategy to diversify their product range, enhance their production capacity and expand their geographical presence in sub-Saharan Africa in the coming years.

Vantage Capital's entry into Promamec will mark the exit of capital market company AfricInvest, which has been in Promamec’s shareholding for some five years now.  

The investment is the third made by Vantage in Morocco. It will strengthen the mezzanine fund manager’s presence in the North African country, considered one of its main target markets. The deal also marks Vantage Capital's 34th investment since it began operations in 2001. Currently, the fund manager’s portfolio includes investments in 11 African countries. 

Chamberline Moko

On the same topic
WAEMU foreign exchange reserves rose to about $33 billion by end-October 2025. Import cover increased to six months from 3.8 months in...
CardinalStone Capital Advisers plans to raise $120 million for its second SME-focused fund in West Africa. The International Finance...
CBK rates' cuts to 9.0%, is ending the 'rentier' era. Banks must now pivot from risk-free state bonds to private lending as inflation...
BNP Paribas entered exclusive preliminary talks with Holmarcom to sell its 67% stake in BMCI. Holmarcom already owns 2.41% of BMCI and acquired...
Most Read
01

Omer-Decugis & Cie acquired 100% of Côte d’Ivoire–based Vergers du Bandama. Vergers du Band...

Omer-Decugis & Cie Expands Mango Operations in West Africa
02

AI-backed agri-fintech is increasingly being used to pilot new rural credit models in Africa, where ...

From Mobile Data to Farm Loans: How AI Is Expanding Rural Credit in Africa
03

This week’s health update shows Africa edging closer to the end of the mpox public health emergency,...

Weekly Health Update | Africa Steps Up Essential Medicines Strategy, Despite Outbreaks, Funding Gaps
04

Investment bank BCID-AES established  in Bamako Bank aims to fund infrastructure, agricultur...

Sahel Alliance Establishes Investment Bank, Key Financing Decisions Pending
05

Standard Bank extended a USD 138 million facility to STEP, acting as sole arranger and advisor to ...

$138 Million Standard Bank Facility to Power Safaricom's Ethiopia Business Expansion
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.