Duet Group, a UK-headquartered global alternative asset management firm with over US$4.7 billion of assets under management (AUM), invested US$50m of growth capital and took controlling stakes in two Ghana-based companies.
The investments were made via its newly formed Duet Consumer West Africa Holdings (DCWA).
The companies are:
– Shop N Save, a supermarket joint-venture with the founders of the Finatrade Group, and
– GNFoods, a food manufacturing company.
The capital will be used to roll-out new food retail stores, expand manufacturing capacity and invest in sales and marketing capabilities.
In conjunction with the investment, Duet Group has appointed the former Chief Strategy Officer of the H. J. Heinz Company, Daniel Milich, as non-executive Chairman of DCWA, to provide strategic insight to the companies, and a former East African country-head for Coca-Cola, to act as CEO for the platform.
FinSMEs
17/03/2014