About
Our Investments
We target companies with the following criteria:
Businesses benefiting from middle-class expansion and urbanization
Companies which address the import substitution opportunity
Businesses with high growth potential and sustainable profitability
Businesses operating in sectors with no ingrained governance issues

Our Investments
A significant presence built over 10 years

HCFM /ARTICRAFTS
Investment Date: 2015
Country: Ethiopia
Sector: FMCG – Edible Oil
Major Brand: Tena
PRIMARY SKUS: Sunflower & soyabean oil, relief foods, animal feed

AQUASAFE
Investment Date: 2015
Country: Ethiopia
Sector: FMCG – Mineral water
Major Brand: Aquasafe
PRIMARY SKUS: Bottled mineral water

GULLELE/ZAK
Investment Date : 2014
Country: Ethiopia
Sector: FMCG – Soap & Detergent
Major Brand: 555
PRIMARY SKUS: Laundry soap, liquid detergent

ETETE
Investment Date: 2016
Country: Ethiopia
Sector: FMCG – Dairy
Sector: FMCG – Dairy
PRIMARY SKUS: Yoghurt, cheese, butter

ASTCO
Investment Date: 2015
Country: Ethiopia
Sector: FMCG – Wheat, flour and pasta
Major Brand: Chef Luca
PRIMARY SKUS: Pasta, macaroni (premium and local), wheat flour, animal feed

APF
Investment Date: 2016
Country: Ethiopia
Sector: Pharmaceuticals
Sector: Pharmaceuticals
PRIMARY SKUS: Generics Manufacturing

UPM
Investment Date: 2013 (exited)
Country: Morocco
Sector: Private education
Major Brand: UPM
Our Investments
A significant presence built over 10 years

HCFM /ARTICRAFTS
Investment Date: 2015
Country: Ethiopia
Sector: FMCG – Edible Oil
Major Brand: Tena
PRIMARY SKUS: Sunflower & soyabean oil, relief foods, animal feed

AQUASAFE
Investment Date: 2015
Country: Ethiopia
Sector: FMCG – Mineral water
Major Brand: Aquasafe
PRIMARY SKUS: Bottled mineral water

GULLELE/ZAK
Investment Date : 2014
Country: Ethiopia
Sector: FMCG – Soap & Detergent
Major Brand: 555
PRIMARY SKUS: Laundry soap, liquid detergent

ETETE
Investment Date: 2016
Country: Ethiopia
Sector: FMCG – Dairy
Sector: FMCG – Dairy
PRIMARY SKUS: Yoghurt, cheese, butter

ASTCO
Investment Date: 2015
Country: Ethiopia
Sector: FMCG – Wheat, flour and pasta
Major Brand: Chef Luca
PRIMARY SKUS: Pasta, macaroni (premium and local), wheat flour, animal feed

APF
Investment Date: 2016
Country: Ethiopia
Sector: Pharmaceuticals
Sector: Pharmaceuticals
PRIMARY SKUS: Generics Manufacturing

UPM
Investment Date: 2013 (exited)
Country: Morocco
Sector: Private education
Major Brand: UPM