Development Partners International

Development Partners International (DPI) is a prominent Pan-African private equity firm headquartered in London, United Kingdom. Established in 2007 by co-founders Miles Morland and Runa Alam, DPI focuses on leveraging strong local knowledge and expertise to invest in the African market. The firm has successfully built a diverse portfolio, managing over US$1.1 billion in assets across various sectors, including telecommunications, financial services, healthcare, agriculture, mining, and renewable energy. DPI's investment team, comprised entirely of African professionals, brings more than 100 years of collective experience in African investment, with a notable emphasis on gender diversity—over 40% of the team are women. This unique combination of local networks, language skills, and sector expertise enables DPI to effectively source and execute investment opportunities throughout the continent.

Andrea Bryce

Operations Director

Rose Fletcher

CFO and Partner

James Griffiths

Partner

Takudzwa Mutasa

Partner

Adefolarin Ogunsanya

Partner

Marc Stoneham

Partner

Jean-Philippe Syed

Partner

Jade Del Lero Moreau

Partner

36 past transactions

Nclude

Acquisition in 2025
Nclude is a venture capital firm established in 2022 and based in Cairo, Egypt. The firm focuses on fostering fintech innovation and promoting financial inclusion by partnering with leading fintech and fintech-enabled companies. Nclude primarily invests in early and growth-stage startups located in Egypt, as well as those within the broader Middle East and Africa region. Through its strategic investments, Nclude aims to support the development of the fintech landscape in these markets.

Moniepoint

Series C in 2024
Moniepoint is a financial technology company that offers a comprehensive digital banking and payment ecosystem tailored for small and medium-sized businesses. The platform provides a range of services, including payment processing, credit access, and business management tools. Moniepoint enables businesses to create accounts and accept payments through various offline and online channels, facilitating efficient financial management. By integrating banking solutions with essential business tools, Moniepoint supports organizations in managing their finances and accessing the resources necessary for growth.

MNT-Halan

Venture Round in 2024
MNT-Halan is a microfinance lending and payments company focused on serving the unbanked population and promoting electronic payment solutions. The company offers a diverse range of financial services, including small and micro business lending, consumer finance, and digital payment options such as mobile wallets and cards. By combining proprietary digital channels with physical networks, MNT-Halan aims to facilitate the digitalization of banking services for both commercial and retail clients. Through its innovative solutions, MNT-Halan seeks to replace cash transactions with more accessible and efficient electronic alternatives.

Pan African Towers

Private Equity Round in 2023
Pan African Towers Limited, is a telecommunications infrastructure and wireless service facilitator.

Kazyon

Venture Round in 2023
Kazyon is the largest discount supermarket chain in Egypt, operating over 450 stores across 17 governorates. The company focuses on providing essential food commodities through its marketplace, which includes a variety of products such as cooking items, dairy, frozen meat, frozen vegetables, and home baking goods. By offering a wide selection of essential goods in one location, Kazyon aims to make shopping convenient and affordable for its customers.

Solevo

Acquisition in 2023
Solevo is a distributor of specialty chemicals and agricultural inputs, focusing on four main product lines: fertilizers, crop protection, chemicals, and seeds. The company caters to various sectors, including agriculture, food, home, mining, and energy. Solevo aims to support local industry development and self-sufficiency by providing a diverse range of industrial chemicals. Through its offerings, the company seeks to enhance clients' productivity and safety, ultimately contributing to healthier and more secure livelihoods by increasing agricultural yields.

Marcyrl Pharmaceutical

Private Equity Round in 2023
Manufacturer of specialty generics medicines and products intended to discover research, develop and manufacture innovative promising new products and new therapies that are fully devoted to people's health. The company has its own research and development unit focused on developing products, especially for cardiology, chest, dermatology, gastroenterology and obesity, thereby innovating across products, particularly in high-growth areas of specialty generics.

Ukheshe

Series A in 2022
Ukheshe Technologies is a digital-first financial services enabler based in Johannesburg, South Africa, established in 2018 by Jason Penton and Paul Carter-Brown. The company focuses on improving financial inclusion for small, medium, and micro enterprises (SMMEs) by offering a tailored digital platform that partners with banks, telecommunications companies, and other financial service providers. Ukheshe's services include banking-as-a-service and payment processing, providing a multi-tenant cloud-based API that facilitates rapid digital transactions. This innovative platform allows users to make payments conveniently, eliminating the need for cash and integrating seamlessly with various banking apps and payment solutions. By focusing on user lifestyles, Ukheshe aims to create accessible financial solutions that empower customers and enhance their financial capabilities.

Groupe Cofina

Secondary Market in 2022
Groupe Cofina is an African financial institution focused on mesofinance, aiming to enhance financial services across the continent. Established in 2013, the company operates in six French-speaking African countries: Congo-Brazzaville, Ivory Coast, Gabon, Guinea Conakry, Mali, and Senegal. Cofina is committed to supporting the private sector by facilitating the formalization of the African business market and prioritizing financial inclusion. The institution provides essential transactional financial services, including savings and credit, specifically designed for small and medium-sized enterprises that may not meet the requirements of traditional commercial banks. Through its efforts, Groupe Cofina plays a significant role in promoting the growth of informal micro-enterprises and fostering economic development in the region.

KELIX Bio

Venture Round in 2022
KELIX Bio is a biopharmaceutical company that specializes in the development and distribution of high-complexity generic medicines, targeting underserved populations in emerging markets, particularly in Egypt and North Africa. The company focuses on differentiated therapeutic areas, including oncology, and aims to enhance the availability and affordability of essential pharmaceuticals in these regions. By leveraging innovation and cost leadership, KELIX Bio seeks to address the challenges faced by healthcare systems in providing access to critical medications, ultimately improving health outcomes for patients in its markets.

Halan

Venture Round in 2021
Halan is an Egyptian technology company established in 2017, operating a mobile application that caters to various consumer needs through a single platform. The app offers ride-hailing services for two and three-wheeler vehicles, on-demand logistics solutions, food delivery, and goods transportation via motorbikes or cargo tricycles. Halan also facilitates e-payments and microfinance services for its users. It has partnered with prominent fast-food chains in Egypt to provide last-mile delivery services using smart-tech integrated systems. The company aims to enhance convenience and safety for customers while offering incremental business opportunities for drivers, supporting both large organizations and small businesses in their distribution needs.

Sicam

Private Equity Round in 2020
Sicam is an agriculture company that produces packaged content.

Channel VAS

Private Equity Round in 2019
Channel VAS is the premium FinTech provider. The company offers airtime credit and airtime advance services, handset loans and big data analytics, all through cutting edge proprietary analytics tools. Channel VAS supports mobile network operators (MNOs) and financial institutions to provide credit daily to people.

Optasia

Private Equity Round in 2019
Optasia is a financial technology company that specializes in developing airtime credit and mobile value-added services for mobile operators and financial institutions. The company offers a platform that utilizes proprietary analytics tools to provide a range of financial solutions, including micro cash loans, handset loans, and credit services for pre-paid utilities. Additionally, Optasia leverages big data analytics to identify dynamic feed trends, enabling clients to access micro and nano loans. This approach allows clients to capitalize on untapped opportunities and enhance their revenue streams.

International Facilities Services

Private Equity Round in 2019
International Facilities Services specializes in providing comprehensive facilities management in remote and challenging locations across Africa, particularly South Africa. The company offers a range of catering services, including industrial and institutional catering, banqueting, fast foods, and specialized diets for medical needs. In addition to catering, it provides construction services, focusing on the design and construction of accommodation camps. The company is adept at responding to various challenges, such as floods and political unrest, utilizing specialized camp management software to streamline operations. This enables efficient back-office management and allows clients to receive tailored food, room service, and hygiene services according to their specific requirements.

CMGP

Acquisition in 2018
CMGP is today the market leader for irrigation in Morocco owing this to its rich experience and professional expertise. With a comprehensive range of products and through close collaboration with the most important manufacturers, CMGP covers the distribution and installation of irrigation equipment and pumping stations.

Banque Atlantique

Venture Round in 2017
Groupe Banque Atlantique, founded in 1978 and headquartered in Abidjan, Ivory Coast, is a prominent financial services group operating across West Africa. The company provides a wide range of banking and financial intermediation services, including private banking options such as checking accounts, savings and investment products, loans, insurance, and money transfer solutions. Its business banking offerings encompass various savings solutions, payment services, and facilities services, which include overdrafts, loans, and foreign trade financing. Additionally, Banque Atlantique is involved in insurance services and telematic services, catering to both individual and business clients. The institution operates throughout the eight UEMOA countries, with a strong presence in nations such as Benin, Burkina Faso, Mali, and Senegal, and has been under the control of Banque Centrale Populaire since 2012.

Dolidol

Private Equity Round in 2017
Dolidol, founded in 1972, is a prominent mattress manufacturer in Morocco, renowned for its high-quality foam and bedding products under the Dolidol brand. The company produces polyurethane foam, mattresses, sofas, and non-woven textiles, serving both residential and commercial markets. With a extensive distribution network comprising 46 owned stores, 10 facilities, and over 1,100 distributors nationwide, Dolidol ensures wide accessibility to its products across Morocco.

Egyptian German Industrial

Venture Round in 2017
Egyptian German Industrial (EGIC), established in 1991, is a prominent manufacturer and supplier of plumbing products based in Cairo, Egypt. The company specializes in producing and distributing a comprehensive range of water supply and drainage solutions, including pipes, valves, accessories, and pump systems. EGIC also offers services related to leakage and contamination, positioning itself as a one-stop-shop for its customers' plumbing needs. With a strong presence in the local market, EGIC is expanding its reach to regional and international markets, both through local sales and exports.

OSEAD Maroc Mining

Venture Round in 2017
OSEAD Maroc Mining operates as a metal and mining platform. OSEAD is a holding company specialising in the prospecting, exploration and mining of mineral deposits. OSEAD’s main asset is Compagnie Minière de Touissit the second largest private mining operator in Morocco, which mines primarily lead and silver with some zinc.

General Emballage

Private Equity Round in 2016
General Emballage is a leading manufacturer and supplier of corrugated cardboard based in Bejaia, Algeria. Established in 2002, the company has experienced significant growth and now operates three production facilities located in Akbou, Setif, and Oran, employing approximately 1,000 individuals. General Emballage specializes in producing a variety of cardboard products, including double-layered and double-double-layered cardboard, as well as containers designed for diverse industries such as dairy, food, fruits and vegetables. Additionally, the company provides corrugated paper sheets suited for sectors including food processing, pharmaceuticals, cosmetics, household appliances, and electronics.

Banque Atlantique

Private Equity Round in 2016
Groupe Banque Atlantique, founded in 1978 and headquartered in Abidjan, Ivory Coast, is a prominent financial services group operating across West Africa. The company provides a wide range of banking and financial intermediation services, including private banking options such as checking accounts, savings and investment products, loans, insurance, and money transfer solutions. Its business banking offerings encompass various savings solutions, payment services, and facilities services, which include overdrafts, loans, and foreign trade financing. Additionally, Banque Atlantique is involved in insurance services and telematic services, catering to both individual and business clients. The institution operates throughout the eight UEMOA countries, with a strong presence in nations such as Benin, Burkina Faso, Mali, and Senegal, and has been under the control of Banque Centrale Populaire since 2012.

B.Tech

Private Equity Round in 2016
B.TECH is a prominent retailer of household appliances and consumer electronics in Egypt, dedicated to serving the needs of everyday consumers. The company provides a wide range of products, including consumer electronics, mobile devices, and information technology services, all offered at affordable payment options. B.TECH operates a network of retail stores and an online platform that spans all governorates in Egypt, supported by a comprehensive distribution system that includes four main warehouses and after-sales service centers. This infrastructure allows B.TECH to effectively meet customer demands and enhance their shopping experience.

Eaton

Private Equity Round in 2015
Eaton Towers Limited is a prominent telecom tower company based in London, specializing in acquiring, building, and leasing shared infrastructure services to mobile and data network operators across Africa. Founded in 2009, the company has established a significant presence in countries including Ghana, Uganda, Kenya, Burkina Faso, and Niger, boasting over 5,000 towers. Eaton Towers provides a range of services such as build-to-suit towers, co-location, in-building solutions, small cells, sale and leaseback, and managed services. It aims to address the growing demand for voice and data services driven by increased smartphone usage and the need for improved network coverage in rural areas. By enabling mobile network operators to share infrastructure, Eaton Towers helps reduce capital and operating costs, which is critical in a region where network build and operating expenses are notably high. Its customer base includes major African mobile operators like Airtel, MTN, Orange, Tigo, Vodacom, and Vodafone, positioning Eaton Towers as a key player in the African telecommunications landscape.

AXA Mansard Insurance

Secondary Market in 2015
AXA Mansard Insurance PLC is a prominent insurance and asset management company based in Nigeria, incorporated in 1989 and registered as a composite company with the National Insurance Commission of Nigeria. As a member of the AXA Group, the global leader in insurance and asset management, AXA Mansard offers a diverse range of life and non-life insurance products and services to both individuals and institutions. Additionally, the company provides asset management services, medical insurance solutions, and pension fund administration through its subsidiaries, which include AXA Mansard Investments Limited, AXA Mansard Health Limited, and AXA Mansard Pensions Limited. Over the years, AXA Mansard has experienced substantial growth, advancing from a low market position in 2003 to becoming one of the top four insurance companies in Nigeria by 2016. The company is recognized for its financial strength with a B+ rating from A.M. Best and is ISO 9001:2008 compliant, reflecting its commitment to quality management.

HomeChoice (South Africa)

Private Equity Round in 2014
HomeChoice is one home-shopping retailer, selling homeware merchandise and financial services.

Université Privée de Marrakech

Private Equity Round in 2014
Université Privée de Marrakech is a prominent private higher education institution located in Marrakech, Morocco. Established to meet the increasing demand for quality education, it serves over 2,000 students across various academic disciplines. The university is dedicated to providing a comprehensive educational experience, fostering academic excellence and professional development in a dynamic learning environment. By offering a range of programs, it aims to equip students with the necessary skills and knowledge for successful careers in their chosen fields.

Touax Africa

Private Equity Round in 2013
Touax Africa is a joint venture between Touax SCA and ADP I, specializing in modular construction operations in Morocco. The company leverages its expertise to design and build modular structures that enable rapid expansion of workspace for various sectors, including construction, mining, residential, tourism, events, health, and telecommunications. Through its subsidiaries, Touax Africa focuses on delivering efficient and timely solutions to meet the diverse needs of its customers, contributing to the growth and development of infrastructure in the region.

Food Concepts

Private Equity Round in 2013
Food Concepts Pioneer Limited is a Nigerian company that operates a chain of quick-service restaurants and bakeries, with its headquarters in Lagos. It produces and sells a variety of baked goods and also operates a poultry farm.

Biopharm

Private Equity Round in 2013
Biopharm is the indigenous pharmaceutical company in Algeria. The company offers anti-inflammatory, antalgic, cardiology, dermatology, gastroenterology, neuropsychiatry, pneumo allergology, rheumatology, and anti-infective drugs.

Touax

Post in 2012
Touax is a France-based company that specializes in the rental and marketing of transport equipment and modular constructions. Its primary business operations include leasing freight railcars, river barges, and shipping containers, with the container segment being the largest source of revenue. The company operates on an international scale, generating most of its income from global markets while also maintaining a presence in Europe, North and South America, and other regions. Through its diverse portfolio, Touax provides essential leasing and trading solutions tailored to the needs of various industries.

CAL Bank

Private Equity Round in 2012
CAL Bank Limited is a prominent banking institution in Ghana, offering a comprehensive suite of financial solutions tailored to large corporations, small and medium-sized enterprises, public sector institutions, and retail customers. Established in 1990 and headquartered in Accra, the bank operates through five key segments: Corporate Banking, Retail & Business Banking, Treasury, Brokerage, and Asset Management. Its services include personal banking options like savings accounts and home mortgages, as well as corporate finance solutions such as project financing and financial advisory. Additionally, CAL Bank provides specialized financing schemes for various sectors and a range of insurance products. The bank also facilitates corporate and institutional banking through business financing and international trade finance services. With a network of 28 branches and approximately 100 ATMs across Ghana, CAL Bank is well-positioned to meet the diverse financial needs of its clients.

Eaton

Private Equity Round in 2011
Eaton Towers Limited is a prominent telecom tower company based in London, specializing in acquiring, building, and leasing shared infrastructure services to mobile and data network operators across Africa. Founded in 2009, the company has established a significant presence in countries including Ghana, Uganda, Kenya, Burkina Faso, and Niger, boasting over 5,000 towers. Eaton Towers provides a range of services such as build-to-suit towers, co-location, in-building solutions, small cells, sale and leaseback, and managed services. It aims to address the growing demand for voice and data services driven by increased smartphone usage and the need for improved network coverage in rural areas. By enabling mobile network operators to share infrastructure, Eaton Towers helps reduce capital and operating costs, which is critical in a region where network build and operating expenses are notably high. Its customer base includes major African mobile operators like Airtel, MTN, Orange, Tigo, Vodacom, and Vodafone, positioning Eaton Towers as a key player in the African telecommunications landscape.

Liberty Star Consumer Holdings

Private Equity Round in 2011
Liberty Star Consumer Holdings, established in 2005 and headquartered in Johannesburg, South Africa, operates as an investment holding company in the Fast Moving Consumer Goods (FMCG) sector. The company specializes in various market segments, including perishables, groceries, snacks and confectionery, baking aids, and household and personal care products. With annual net revenues exceeding R7 billion, Liberty Star comprises 28 business units spread across 31 sites in provinces such as Gauteng, Mpumalanga, Kwa-Zulu Natal, Western Cape, and Eastern Cape. The company serves the food service industry, private label segments of larger retailers, and brand owners, while also offering its own branded products. Its extensive manufacturing and distribution capabilities allow it to meet diverse customer needs both locally and globally.

Letshego Holdings

Venture Round in 2010
Letshego Holdings is a regional financial services provider in Africa, specializing in consumer lending. The company offers short to medium-term secured and unsecured loans primarily to employees in the public, quasi-public, and private sectors. It serves various customer segments, including small and micro-entrepreneurs, salaried employees, and civil servants. Operating across multiple African countries, including Botswana, Ghana, Kenya, Lesotho, Mozambique, Namibia, Nigeria, Rwanda, Swaziland, Tanzania, and Uganda, Letshego aims to meet the diverse financial needs of its clients while promoting financial inclusion in the region. The company considers its banking and other financial services as a unified operating segment, focusing on delivering accessible credit solutions to enhance economic empowerment.

Sylndr

Sylndr is an automotive e-commerce marketplace focused on enhancing the used-car market. The company aims to build trust among customers by providing a reliable platform for buying and selling used vehicles. Sylndr offers an extensive selection of high-quality used cars and a variety of financing solutions, positioning itself as the preferred destination for individuals looking to engage in transactions within the used-car sector. Through its innovative approach, Sylndr seeks to ensure transparency and reliability, thereby improving the overall customer experience in the automotive marketplace.
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