Vantage Capital, a mezzanine fund manager, has made a new investment in the water and sanitation sector after its recent engagement in the healthcare industry in Morocco.
On Friday, July 21, Vantage Capital announced a $25 million investment in Aquasantec. The transaction involved mezzanine debt and ordinary shares, granting the fund manager a majority stake in the company. Aquasantec operates in six East African countries and focuses on providing water and sanitation solutions.
Vantage acquired the shares from a group of shareholders, including Kenya's Ramco Group, Mauritius-listed Terra Mauricia conglomerate, and the founding family, the Shahs, who have been associated with Aquasantec for over 30 years.
"Vantage is proud to support a thriving company with a strong social impact and a proven leadership team that has positioned Aquasantec as a leading regional player in its industry. We share the management's vision of leveraging Aquasantec's market-leading brands and new facilities to drive its next phase of growth," Warren van der Merwe, Managing Partner of Vantage Capital, said.
This marks Vantage Capital's second investment in 2023, following a €30 million investment in a Moroccan medical equipment and consumables producer in May.
Vantage's investment will contribute to improving access to water supply in the East African region. Aquasantec has recently established a new factory in Nairobi, Kenya, along with other facilities in Uganda, Rwanda, and Zambia.
Chamberline Moko
Zenith Bank picks Côte d’Ivoire for $90M debut into Francophone Africa, confirming ambition t...
• Benin’s FeexPay and Côte d’Ivoire’s Cinetpay receive BCEAO payment service licenses• Both firms ex...
Nigeria’s fintech landscape has undergone a seismic shift in recent years, driven largely by persist...
Niger’s economy grew 10.3% in 2024 and is projected to expand 6.6% in 2025. Yet non-performin...
• WAEMU posts 0.9% deflation in July, second month in a row• Food, hospitality prices drop; alcohol,...
• Gabon plans joint venture to expand fiber optic network• Project targets 1,800 km extension, cost-sharing, better coverage• Moov and Airtel partnership...
From Dakar to Nairobi, Kampala to Abidjan, mobile money has become a lifeline for millions of Africans. What started as a tool for sending and receiving...
• Africa's gas output fell 17 bcm in 2024• Algeria led decline due to aging production fields• Delays, underinvestment threaten Africa’s export...
• MSMEs spend $3.5B yearly on generator power in Nigeria• Generator costs consume up to 40% of business expenses Nigeria's national power grid...
The Umhlanga Festival, also known as the “Reed Dance,” is one of the most iconic cultural events in the Kingdom of Eswatini in Southern Africa. Every...
• Nigeria to turn Abuja stadium into culture, sports innovation hub• Project includes museum, arenas, markets, and youth creative center• Gov’t...