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Adenia Partners announces the acquisition of Kenyan retail chain Tumaini Self Service Ltd  

Monday, 28 January 2019 13:59
Adenia Partners announces the acquisition of Kenyan retail chain Tumaini Self Service Ltd  

(Ecofin Agency) - Adenia Partners announced that it has finalised the acquisition of Tumaini Self Service Ltd, a retail chain in Kenya. The operation was finalised on December 5, 2018, but Adenia Partners revealed it last week. “We were attracted to Tumaini as an investment because the Company’s stores offer an affordable product offering at convenient locations that complement customers’ busy lifestyles. We look forward to partnering with a strong management team that will leverage Adenia’s expertise in strategic and operational improvements”, informed Ms Moses Nditika, one of Adenia’s partners.

For the operation, the Private equity firm, founded in 2002 and represented in five African countries apart from its headquarters which is Mauritius, has set a special investment vehicle called Sokoni Retail Kenya Ltd.

The value of the transaction has not been disclosed but the firm is structuring a minimum of $10 million through its latest fund (Adenia Capital IV).

Idriss Linge





 
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ECOFIN AGENCY offers a selection of articles translated from AGENCE ECOFIN. Founded in 2011, Agence Ecofin is a leader in Francophone Pan-African economic news, particularly in West and Central Africa. The agency publishes daily news on nine African economic sectors: Public Management, Finance, ICT, Agribusiness, Energy, Mining, Transport & Logistics, Communication, and Training.

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