Investec Asset Management makes first private-equity investment in Egypt
Thursday, 18 July 2019 16:35
South African asset manager, Investec Asset Management, makes its first private equity investment in Egypt, acquiring controlling stake in supermarket chain Spinneys Egypt. This operation is the eighth investment by Investec’s second pan-African private equity fund.
“This investment offers us the opportunity to support the accelerated expansion of the business (Spinneys Egypt) across Egypt,” commented Nick Marsh, Investment Manager at Investec Asset Management.
According to Spinneys Egypt’s MD, Mohanad Adly, who shows enthusiasm in this new development step for his company, the operation will boost growth including opening new branches.
Spinneys Egypt, founded in 1924 by Arthur Spinney, specializes in the distribution of food products, groceries and bakery products. The firm has 2 hypermarkets and 11 supermarkets.
Chamberline MOKO
Live News
-
Cameroon Brings Informal Property Brokers Under VAT Rules
16:05
-
Novarea Textile, Togo Apparels Source Join Adétikopé Industrial Platform
16:01
-
Strengthening the Economic Bridge: Outgoing U.S. Ambassador Shares Vision for Future Cameroon-U.S. Investment
12:30
-
Strengthening the Cotton Value Chain: Crédit du Sahel Formalize Strategic Banking Alliance
11:50
-
Cameroon Scores Mid-Table in World Bank’s Business Ready 2025 Report
11:46
-
Togo Introduces Electronic Invoicing and New Taxes in 2026 Budget
17:59
-
Togo Spends CFA247.49 Billion on Public Sector Wages by End-September 2025
17:57
-
Guinea Launches Univ Connect to Fiber-Link Universities Nationwide
17:08
-
Golfe 5 Municipality Approves Balanced CFA1.45 Billion Budget for 2026
17:04
-
Egypt’s Al-Sisi Pushes Local Telecom Equipment Manufacturing
13:40
The BCID-AES launches with 500B CFA to fund Sahel infrastructure, asserting sovereignty from the B...
Togo passes new law tightening anti-money laundering and terrorism financing rules Legislat...
Gabon names Thierry Minko economy and finance minister in Jan. 1 reshuffle Move follows tra...
Ethiopia agreed in principle with investors holding over 45% of its $1 billion eurobond due 2...
Heirs Energies acquires M&P’s 20% Seplat stake for $496M, exiting french group Maurel & Pro...
Acumen closed a $250 million blended-finance raise for off-grid electricity in sub-Saharan Africa. The H2R Amplify debt fund reached $180...
Ivory Coast expects a new government after the prime minister and cabinet resigned following December 27 legislative elections. The ruling RHDP won...
West African Resources produced 205,228 ounces of gold at Sanbrado in 2025, within its guidance range. Total Burkina Faso output from Sanbrado and...
Morocco digitized 68 of its 76 fish markets to improve transparency and transaction monitoring. Authorities now track all vessels operating in Moroccan...
The Sundance Institute selected three African films from more than 16,000 submissions across 164 countries. The 2026 festival will run from January 22...
Organizers opened submissions for the sixth Annaba Mediterranean Film Festival from Jan. 8 to Feb. 28, 2026. The festival accepts feature films, short...