Ascent Capital Africa

Ascent Capital Africa, established in 2012, is a private equity firm headquartered in Mauritius with offices in Kenya, Ethiopia, and Uganda. The company specializes in investing in small and medium-sized enterprises across Eastern Africa, focusing on sectors such as agribusiness, consumer goods, healthcare, ICT, energy, and manufacturing. It typically invests between $2 million and $15 million, taking a controlling or majority stake, and aims to exit through public listing or sale to other investors within a 10-year period. Ascent Capital Africa targets enterprises with a proven track record and seeks to support their growth and expansion.

Guy Brennan

Partner

Lucas Kranck

Founding Partner

Richard Mugera

Country Director and Principal

David Owino

Partner

Florian Pape

Co-Founder and Chairman of Investment Committee

Michael Selassie

Associate Partner, Country Director and Principal

7 past transactions

Dune Packaging

Venture Round in 2024
Dune Packaging is a manufacturer of paper packaging products focused on environmentally friendly solutions. The company provides a range of packaging options for various goods, including flour, sugar, baking powder, tea, and seeds, catering to the needs of restaurants and other businesses. In addition to these products, Dune Packaging also offers stitched and wrapping paper, as well as packaging for construction materials. By adhering to ISO standards and food safety management systems, Dune Packaging ensures that its clients receive reliable and safe packaging solutions.

Kisumu Concrete Products

Venture Round in 2017
Kisumu Concrete Products LTD, established in 1978 and located in Kisumu, Kenya, specializes in the manufacture and supply of construction materials and concrete products. The company is the largest supplier of construction aggregates and a leading producer of concrete products in Western Kenya. Its diverse product range includes concrete blocks, paving blocks, roofing tiles, fence posts, culverts, and various precast items, as well as ballast and stone chips. Additionally, Kisumu Concrete Products engages in the mining and quarrying of pozzolana and provides excavation and backfill earthworks, catering to the needs of local and foreign road contractors, housing developers, and construction companies.

African Queen

Venture Round in 2015
African Queen Limited, established in 2001 and headquartered in Mukono, Uganda, is a private company engaged in the importation, distribution, and marketing of high-quality fast-moving consumer goods (FMCG). Its product portfolio spans personal care, home care, and food and beverage categories, serving the Ugandan market.

Chims Africa

Venture Round in 2015
Chims Africa, founded in 2003 as an MTN franchise, has established itself as a prominent player in Uganda's mobile money sector, particularly after the introduction of mobile money in 2009. Operating independently as an agent for MTN, the company excels in float management, allowing it to process higher volumes of cash-in and cash-out transactions compared to competitors who may lack adequate working capital. Chims Africa provides a range of mobile payment services, including loans, money transfers, and bill payments, ensuring accessibility for customers in both urban and rural areas. With numerous outlets across various locations, including Nateete, Kajjansi, and Entebbe, Chims guarantees 24/7 service availability. The company's headquarters is located at Block 18, Plot 764 Batuma House, Nalukolongo – Nateete, Masaka Road.

International Clinical Laboratories

Venture Round in 2015
International Clinical Laboratories (ICL) operates in Ethiopia, providing a comprehensive range of laboratory services essential for patient diagnosis and treatment. Established in 2004 and headquartered in Addis Ababa, ICL is the leading laboratory service provider in the country, with multiple locations including six in the capital and seven branches nationwide. The laboratory offers numerous testing services, such as cardiac markers, blood counts, renal function tests, and various diagnostic analyses, including rapid tests and therapeutic drug monitoring. ICL distinguishes itself as the only laboratory in Africa accredited by the Joint Commission and certified by the Centers for Disease Control and Prevention and the College of American Pathologists. The company not only facilitates specimen collection and provides online access to results but also has a focus on enhancing healthcare quality in the region. As a subsidiary of Medpharm Holdings Africa, ICL aims to expand its services and establish a leading presence in the broader African healthcare market.

Medpharm Holdings Africa

Venture Round in 2015
Medpharm Holdings Africa is a provider of laboratory services in Ethiopia.

African Foundries

Venture Round in 2010
African Foundries Ltd is a Mining and Metals company located in Nigeria.
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