AfricInvest calls upon Vantage Capital for its exit from Equity Invest (Morocco)
The South-African mezzanine fund manager is making its second investment foray into French-speaking Africa and is targeting new markets in the region Jeune Afrique Business+ has learned.
14/11/2019 at 07h26, by Africa Business+
Vantage Capital is gaining a foothold in Morocco. The fund run by Colin Rezek has granted $8m to Equity Invest SA, a holding bringing together six Moroccan tech companies. A source close to Vantage management explained that these six firms (none of which has been named) stand out in “strong growth sectors including online payments and renewable energies where Morocco is a market leader.” The six companies specialise respectively in security systems, audio-visual, digitisation, online payments, software solutions and solar power development. In comments for this report, Equity Invest’s CEO Ali Bettahi stated that they employ 170 people and record cumulated revenue or around $20m.
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