Ascent Capital Africa

Ascent Capital Africa, established in 2012, is a private equity firm headquartered in Mauritius with offices in Kenya, Ethiopia, and Uganda. The company specializes in investing in small and medium-sized enterprises across Eastern Africa, focusing on sectors such as agribusiness, consumer goods, healthcare, ICT, energy, and manufacturing. It typically invests between $2 million and $15 million, taking a controlling or majority stake, and aims to exit through public listing or sale to other investors within a 10-year period. Ascent Capital Africa targets enterprises with a proven track record and seeks to support their growth and expansion.

Guy Brennan

Partner

Richard Mugera

Country Director and Principal

David Owino

Partner

Florian Pape

Co-Founder and Chairman of Investment Committee

Michael Selassie

Associate Partner, Country Director and Principal

7 past transactions

Dune Packaging

Venture Round in 2024
Dune Packaging is a manufacturer of environmentally friendly paper packaging products designed to meet diverse packaging needs. The company specializes in producing paper bags for a range of goods, including flour, sugar, baking powder, tea, and seeds used in restaurants. In addition to these products, Dune Packaging offers stitched and wrapping paper as well as materials for construction. Its commitment to sustainability is reflected in its adherence to ISO standards and food safety management systems, ensuring that clients receive high-quality packaging solutions.

Kisumu Concrete Products

Venture Round in 2017
Kisumu Concrete Products Ltd, founded in 1978, is based in Kisumu, Kenya, and is the largest supplier of construction aggregates and concrete products in Western Kenya. The company manufactures a wide range of products, including concrete blocks, paving blocks, roofing tiles, louvre blocks, fence posts, road kerbs, culverts, paving slabs, road channels, and wall capping, as well as other precast concrete items. Additionally, Kisumu Concrete Products is involved in the mining and quarrying of pozzolana and provides excavation and backfill earthworks services. The company's offerings cater to local and foreign road contractors, housing developers, and construction companies, ensuring they receive tailored services to meet their construction needs.

African Queen

Venture Round in 2015
African Queen Limited, established in 2001 and headquartered in Mukono, Uganda, is a private company engaged in the importation, distribution, and marketing of high-quality fast-moving consumer goods (FMCG). Its product portfolio spans personal care, home care, and food items, catering to a wide range of consumer needs in Uganda.

Chims Africa

Venture Round in 2015
Chims Africa, established in 2003 as an MTN franchise, has emerged as a key player in Uganda's mobile money sector since the introduction of mobile money in 2009. Operating independently as an agent within the largest mobile money network in the country, Chims offers a range of financial services including mobile money transfers, loans, and bill payment solutions. The company is recognized for its robust operational float management capabilities, allowing it to execute higher volumes of transactions compared to many competitors who struggle with adequate working capital. With numerous outlets open 24/7 in various locations, including urban centers and rural areas, Chims ensures that mobile money services are accessible to customers at all times. The company is dedicated to expanding its agent network across Uganda to further enhance service availability. Its head office is located in Nalukolongo, Nateete, on Masaka Road.

International Clinical Laboratories

Venture Round in 2015
International Clinical Laboratories (ICL) is a leading provider of laboratory services in Ethiopia, with a strong presence in the capital, Addis Ababa, and additional branches across the country. Established in 2004, ICL offers a comprehensive range of testing services, including diagnostic testing, referral laboratory testing, and STAT testing for various medical conditions. The laboratory provides essential services such as specimen collection and online access to results, catering to the healthcare needs of the population. Notably, ICL is the only laboratory in Africa accredited by the Joint Commission and certified by the Centers for Disease Control and Prevention and the College of American Pathologists. As a subsidiary of Medpharm Holdings Africa, ICL aims to enhance healthcare quality in the region and has plans for further development as a regional player in laboratory services.

Medpharm Holdings Africa

Venture Round in 2015
Medpharm Holdings Africa is a provider of laboratory services in Ethiopia.

African Foundries

Venture Round in 2010
African Foundries Ltd is a Mining and Metals company located in Nigeria.
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