Tunisian investment firm Ekuity Capital and asset manager United Gulf Financial Services-North Africa (UGFS North-Africa) jointly co-invested in the capital of Société moderne d'industrie plastique et d'emballage (Somipem), a Tunisian company specializing in the manufacture of caps and tops.
The amount committed by the two partners has not been disclosed, nor the shares acquired by them. This investment will finance the development of Somipem within borders and beyond.
Ekuity and UGFS North-Africa acquired their shares from Sodino, Univers Invest Sicar and CDC Gestion, which owned stakes in Somipem.
"This investment is fully in line with Ekuity Capital's strategy to support Tunisian SMEs with high potential in their development, and we are convinced that Somipem will be able to achieve its growth objectives," commented Mohammad Al-Nemah, Managing Director of Ekuity Capital.
Formerly engaged in the management of hotel assets, Ekuity Capital has recently diversified its activities and is interested in new promising sectors in Tunisia. The company currently holds stakes in about twenty companies.
Chamberline Moko
(EBID) - EBID aims to allocate nearly 41% of its commitments to projects with environmental and...
Mobile phones have become essential tools for work, education, payments and staying connected across...
Ecobank Transnational Incorporated asked shareholders to vote on a $500 million Tier 2 Eurobond...
Africa produces what it doesn’t consume, and consumes what it doesn’t produce. That stark line captu...
Funding part of $250 million raise to boost investor confidence Fintech expands services, pr...
From eastern Chad, where measles and meningitis are spreading through overcrowded refugee camps, to the progress and fragility of vaccination campaigns...
A staple of West African cuisine, onions are among the sub-region’s most widely grown horticultural products and a key driver of intra-regional trade,...
Niger adopts draft decree to regulate firearm acquisition, possession, and use New framework introduces stricter controls, traceability requirements,...
Chad and Algeria sign agreement to study a 20,000 bpd refinery project Chad continues to import large volumes of refined products despite crude output...
CANAL+'s film arm backs a ZAR 300-million feature rooted in South Africa's anti-apartheid music movement. Production kicks off June 29 in Cape Town,...
Burkina Faso launches “SORA” university series filming in Ouagadougou 25-episode project explores student life challenges and...