(Ecofin Agency) - Zoscale Partners, a private equity fund based in Ethiopia and which mobilized $75 million recently, announced it has made its first two investments in Ethiopian companies whose products are turned to exports.

The first of the two transactions announced last week is in CGF Crown Cork Manufacturing, one of the main bottle cap manufacturer which supplies multinationals in the beverage industry. The fund invested will help CGF become a diversified supplier with bottling solutions to the beverage sector in East Africa. This should help it boost its position in the market and let it fully take advantage of the expansions planned by multinationals of the beer and soft drink sector in Ethiopia.

The second investment was in Ethio-Asia, an Ethiopian company specialized in the production of reputed brands of soap and detergents. The funds will help the company increase its production capacity and boost its capacity to innovate.

Let’s note The equity fund provided no detail about the volume of the two investments. It is also worth mentioning Zoscale Partners primarily seeks investments opportunities in Ethiopia. A country which has been experiencing strong growth recently and which is preparing to somehow open its economy to the private sector.  

Idriss Linge