KAS Africa secures $10 million investment to expand operations
KAS Africa, a contract manufacturer of personal, home, baby and oral care FMCG products, has received an investment with an aggregate value of $10 million from TRT Investments Limited.
The transaction significantly strengthens KAS Africa’s balance sheet and capacity to execute its growth plans in the years to come.
This investment is in line with TRT Investments’ drive to support industrialisation and economic growth across the continent.
TRT’s investment takes the form of a purchase of a 49% stake in KAS Africa and capital to purchase a new plant and equipment to build capacity and capability. The transaction also provides KAS Africa with access to working capital facilities put in place by TRT Investments with support from the African Export-Import Bank (Afrexim).
TRT Investments is a Mauritian independent investment holding business with more than $200m in assets under its management. The company manages a diverse portfolio of investments across Botswana, Mozambique, Nigeria, South Africa, Zambia, Zimbabwe, the United States and Europe.
“As a majority black woman-owned business, we believe continental domestic investment and confidence can transform Africa into an economic superpower. There is a close fit between our contract manufacturing business in the personal, home, baby and oral care sectors, and TRT Investments’ vision for unleashing Africa’s potential as an industrial powerhouse of the future,” says Vinny Perumal, CEO of KAS Africa.
“Over the years, we have built one of the continent’s foremost manufacturing plants in terms of size, volume, product variety, and capability standards. We have earned a reputation for delivering quality, flexible, local manufacturing capabilities that meet the most rigorous international standards. In partnership with TRT Investments, we will be able to move this innovative business to the next level.”
The transaction will enable KAS Africa to ramp up capital investment in line with its plan to grow aggressively in South Africa and across the continent. Among other plans, KAS Africa will enhance its product range, grow its client base and build state-of-the-art, world-class manufacturing facilities across the continent.
Says Adam Molai, chairperson at TRT Investments: “We have bought a significant share in KAS Africa because it fits into TRT’s strategy of industrialising Africa and helping to build it into the alternate supply chain of the world. Our objective is to increase KAS Africa’s breadth and depth and to grow the company aggressively. We are particularly excited about the potential of expansion into East and West Africa for KAS Africa.”