Actis, a private equityÂ Â Â investor in developing countriesâ€™ capital market, has restated its commitment
to the development of emerging markets in Africa and around the world, through partnering with Small and Medium Scale Enterprises (SMEs) in these countries, by helping them achieve their growth plans and contributing positively to the economic development of their various countries.
It also appointed Ms. Ngozi Edozien as the new Head of its West Africa Operations. According to a statement by the company, it is strategically positioned to achieve its objective, especially with its resolve to focus on transactions in the consumer, financial services and real sectors of the economy.
The statement by the company reads, â€œWe are committed to making positive impact in emerging markets through partnering with growing sustainable businesses and encouraging the growth of the private sector. West Africa is central to this commitment.
We are very well positioned to meet this objective having recently closed our global fund, Actis Emerging Markets 3, with a strategic focus on large transactions in the consumer, financial services, infrastructure and industrial sectors. Our deals are executed by a global team of professionals with a wide experience base as exemplified by senior managers such as Ngozi Edozien and Simon Harford.â€
It disclosed that Edozien joined Actis from her position as the founding Chief Executive Officer of the Equity Vehicle for Health in Africa, established in April 2008 and co-funded by the International Finance Corporation (IFC), the African Development Bank (AFDB), the DEG and the Gates Foundation, replacing Simon Harford, who will move to Johannesburg as the Head of Actisâ€™s growing Portfolio Group for Africa and Latin America focusing on Actisâ€™s value-add to its portfolio of investee companies.
The statement further noted that she will be responsible for all aspects of Actisâ€™s private equity business in West Africa including the day-to-day management of Actisâ€™s existing investments as well as the development of new investment opportunities in the region.
It stated that Actis, presently has currently investment in a number of companies in West Africa, including; Diamond Bank Plc, Mouka Foam, UAC Nigeria Plc and Exoro (Seven Energy, in addition to its real estate assets in Ghana and Nigeria as well as infrastructure interests throughout the region.
The statement quoted Mr. Peter Schmid, Head, Actis , Africa, based in South Africa, as saying, â€œNgozi brings exactly the right mix of experience, drive, insight and regional knowledge that Actis needs in West Africa. As a critical cornerstone of Actisâ€™s pan-Africa network, we see considerable opportunity in this market for us to partner with successful, growing and sustainable private sector businesses in order to deliver benefits to local stakeholders.