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
Ethio Telecom has signed a new agreement with Ericsson to expand and modernize its telecom netwo...
EIB commits over €1 billion for renewable energy in sub-Saharan Africa Funding supports Miss...
MTN Zambia tests Starlink satellite service connecting phones directly from space Direct-to...
Since its 2019 IPO, Airtel Africa paid Deloitte over $37 million in audit and non-audit fees,...
Nigeria introduced a 1% flat tax on the turnover of informal-sector businesses under a new presump...
Algeria’s University of Continuing Education has created a commission to steer its shift to “University 4.0.” The initiative aims to strengthen...
Funds to expand cocoa trading and global export operations Company supports 30,000 farmers across West and Central Africa Nigerian agricultural...
Mirova to invest $15 million in iSAT solar telecom towers Funding supports rural tower rollout in Liberia and Zambia Solar-battery...
Botswana and five Southern African countries will harmonize mobile roaming tariffs. The initiative is part of the regional One Network Area (ONA)...
With much of Africa’s cultural heritage still held outside the continent and restitutions in Europe moving slowly, a South African video game imagines...
Paris exhibition showcases Brazilian painter Gonçalo Ivo’s Africa-inspired works Show runs March 20-July 9 at La Maison Gacha Exhibition...