DEG and Proparco invest $52 million in Naivas International
Alongside the Mauritian conglomerate IBL Group, the two development institutions, subsidiaries of KfW and the French Development Agency (AFD), are taking a 40% stake in the capital of Kenya’s leading retailer.
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▪ DEG and Proparco invest $52 million in Naivas International
▪ Alongside the Mauritian conglomerate IBL Group, the two development institutions, subsidiaries of KfW and the French Development Agency (AFD), are taking a 40% stake in the capital of Kenya’s leading retailer.
▪ https://www.africabusinessplus.com/en/812577/deg-and-proparco-invest-52-million-in-naivas-international/
Proparco is providing $31.5 million while DEG is reinvesting $20.5 million. The IBL Group did not disclose the amount it injected but confirmed that it “nevertheless represents the largest investment in its history”.
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