Fanisi Capital, the venture fund that makes direct investments in high growth businesses has recently partnered with European Foods Africa Limited (EFAL) by investing USD 2.1 million. These funds were invested in form of a loan.
EFAL is involved in the distribution of cold chain frozen foods such as pizzas, whole berries and fresh berry beverages; delivering to restraints, supermarkets and grocery stores in Nairobi and Mombasa. Fanisiâ€™s investment in EFAL is expected to help increase distribution and aid in the tapping of Africaâ€™s growing population.
â€We are supporting a strong entrepreneur who has developed a good understanding of the evolving local consumer preferences over several years, and has identified a niche product whose demand continues to grow.â€ Said Mr. Tony Wainaina, Managing Partner at Fanisi Capital.
The private equity firm has invested in Ngare Narok Meat Industries Limited a meat processing and distribution/retail business in Kenya, and ProDev Group Holdings in Rwanda, a grain handling business (sourcing, drying, storing, trading, purchasing, milling and animal feed production) in Rwanda.