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
Driven by above-average growth and rapidly expanding demographics, Francophone Africa is emerging as...
Algeria launches bid for two NGSO satellite telecom licenses Move aims to expand broadband ac...
EBID aims to allocate nearly 41% of its commitments to environmentally and socially impactful projec...
Coca-Cola unit trains 260+ SMEs in Namibia business skills Program targets women, youth, disabled...
Four major operators—Mauritel, Mattel, Rimatel, and Chinguitel—submitted a combined bid of ...
Ghana will subsidize fuel prices by 2 cedis per litre of diesel and 0.36 cedi per litre of petrol starting April 16. The measure will last one month as...
The DRC government plans a 3.5-km, 2x2-lane urban viaduct in western Kinshasa to reduce chronic congestion. The project targets key bottlenecks,...
Mozambique, South Africa to launch digital one-stop border system Reform expected to cut delays, integrates customs, immigration, cargo...
Activist Kemi Seba arrested in Pretoria with two others Suspected illegal border crossing attempt costing 250,000 rand Faces extradition to...
Fally Ipupa plans a two-part album project combining urban sounds and traditional rumba. The first album “XX” releases on April 17, while “XX Delirium”...
MASA 2026 gathers artists and industry professionals from over 28 countries in Abidjan. The event features 99 performances across market and...