Nintey One & RMB partially exit investment in Kamoso Africa

Ninety One (previously Investec Asset Management) and Rand Merchant Bank Ventures have partially exited their equity stake in the Botswana based FMCG company, Kamoso Africa. The Botswana Development Corporation has taken up a 24% stake in Kamoso Africa. The company was established in 2015 and has become one of Southern Africa’s leading manufacturing, supply and distribution companies with a product range of fast moving consumer goods (FMCG), pharmaceuticals, liquor, building materials and equipment. The company operates in 6 Southern African countries with a staff complement of 1,500 people.

The Botswana Development Corporation is an agency for commercial and industrial development in Botswana that was established in 1970 and 100% owned by the Government of Botswana.  The mandate of the agency is to drive the industrialisation of the country by providing debt and equity financing to investors with commercially viable projects. The sectors targeted are manufacturing, agriculture, services, property, infrastructure and energy. The agency excludes mining from its mandate.

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