Development Partners International

Development Partners International (DPI) is a prominent Pan-African private equity firm founded in 2007, with headquarters in London and an office in Lagos, Nigeria. The firm focuses on investing in growing companies across various sectors, including manufacturing, telecommunications, healthcare, and financial services, among others. DPI manages over $1.1 billion in assets through two private equity funds and has a strong track record, having invested in 19 portfolio companies across 27 African countries. The firm’s investment team, all of whom are African, boasts over 100 years of combined investment experience in the region, with a commitment to diversity, as over 40% of the team comprises women. DPI typically invests between $10 million and $120 million in equity per company, concentrating its efforts on markets in Angola, Algeria, Burundi, the Democratic Republic of the Congo, Ethiopia, Liberia, Libya, Madagascar, Mozambique, Rwanda, and Sierra Leone. The firm does not engage in investments related to start-ups or turnaround situations.

Eduardo Gutierrez

Partner

Miles Morland

Co-Founding Partner and Chairman

Bassirou Niang

Vice President, Portfolio Management

39 past transactions

TOUAX

Post in 2012
TOUAX specializes in the rental and marketing transport equipment and modular constructions.
EGIC is a market-leading provider of water pipes and water drainage solutions in Egypt, with growing local and exports activities in regional and international markets. The company aims to be a one-stop-shop for all water supply and drainage solutions of its customers.

HomeChoice (South Africa)

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

Général Emballage Sarl

Merger/Acquisition in 2016
Général Emballage Sarl manufactures corrugated cardboard products. The company was founded in 1998 and is based in Béjaia, Algeria.

CAL Bank

Private Equity Round in 2012
CAL Bank provides a range of banking and financial solutions to large corporations, small and medium-sized enterprises, public sector institutions, and retail customers in Ghana. It operates through five segments: Corporate Banking, Retail & Business Banking, Treasury, Brokerage, and Asset Management.

Groupe COFINA

Secondary Market in 2022
Groupe COFINA is an African financial institution dedicated to mesofinance. It ambitions to become an economic player that favors an upscaling of financial services in Africa. By investing in the already very dynamic private sector, Cofina participates in the formalization of the African business market and makes financial inclusion its first priority. The company was established in 2013, present in six French-speaking African countries (Congo-Brazzaville, Ivory Coast, Gabon, Guinea Conakry, Mali, Senegal).

Biopharm

Private Equity Round in 2013
Biopharm spa manufactures and distributes generic drugs. The company offers anti-inflammatory, antalgic, cardiology, dermatology, gastroenterology, neuropsychiatry, pneumo allergology, rheumatology, and anti-infective drugs. It offers liquids, creams, gels, tablets, and powders. Biopharm spa was founded in 1991 and is based in Alger, Algeria.
Société Industrielle des Conserves Alimentaires produces and sells tomato processed food for Tunisia and international markets. Société Industrielle des Conserves Alimentaires is based in Mégrine, Tunisia.

Touax Africa

Private Equity Round in 2013
Touax Africa is a joint venture between Touax SCA and ADP I. Touax brings its know-how and expertise in modular construction and transport to the service of its customers.

General Emballage

Private Equity Round in 2016
General Emballage is a supplier of corrugated cardboard in Algeria. The company supplies its clients with double layered cardboard and double-double layered. General Emballage entered the market in back in 2002, since then, had grown enormously. It now employs a workforce of 1000 colleagues spread out on 3 productions facilities ( Akbou, Setif and Oran sites).

Letshego

Venture Round in 2010
Letshego Kenya Limited, a financial lender, provides credit services to small and micro-entrepreneurs, salaried employees, and civil servants in Kenya.

Food Concepts Plc

Private Equity Round in 2013
Food Concepts Pioneer Limited owns and operates bakeries which produce baked goods.

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.

Banque Atlantique

Private Equity Round in 2016
Banque Atlantique offers banking, management and financial intermediation, and services and IT engineering operations in Africa. It offers private banking services, such as checking accounts, savings and investments, bank cards, loans, insurance, money transfer, and VIP and financial intermediation. The company’s business banking services include savings solutions, such as demand deposits, ordinary savings accounts, term deposits, and interest bearing notes; and payment services, including checks, transfers, permanent transfers, deduction at source orders, and cash management services.

Dolidol

Private Equity Round in 2017
Established in 1972, Dolidol is one of the oldest mattress manufacturers in Morocco and a leading player in the industry. The Dolidol household brand name is one of the most recognized and widely used foam and bedding brands throughout Morocco, perceived as being higher-end with better quality products. Dolidol manufactures and sells polyurethane foam, mattresses and sofas, as well as non-woven textile. Dolidol has developed a wide distribution network in Morocco with 46 owned stores, 10 distribution facilities and over 1,100 distributors.

Optasia

Private Equity Round in 2019
Optasia is a financial technology company. They develop airtime credit and mobile value-added services for mobile operators and financial institutions. They also provide financial solutions that utilize proprietary analytics tools, including micro cash loans, handset loans, credit services for pre-paid utilities, dynamic feed trends, big data analytics, and other related services.

International Facilities Services

Private Equity Round in 2019
International Facilities Services provides facilities management services in remote locations in Africa. It offers catering services, including industrial and institutional catering, light meals, banqueting, fast foods, event, mass feeding programs, deli bars, braais/barbecues, A la carte meals, beverage services, and specialized meals for medical diets; and construction services, such as design, engineering, and construction of accommodation camps.

Channel VAS

Private Equity Round in 2019
Developer and aggregator of impactful Mobile Value Added Services

Liberty Star Consumer Holdings

Private Equity Round in 2011
Libstar was founded in 2005 as an investment holding company investing in companies operating in the Fast Moving Consumer Goods (FMCG) industry. The company focuses on the food, beverage, household, and personal care segments of the market. Headquartered in Johannesburg, South Africa, Libstar has annualized net revenues in excess of R7bn. The group consists of 28 business units that operate nationally across 31 sites located in Gauteng, Mpumalanga, Kwa-Zulu Natal, Western Cape, and Eastern Cape provinces. Libstar offers its customers a wide range of products with the convenience of a single supplier with a nationwide presence, and distribution and manufacturing capacity. The group concentrates on supplying the needs of the foods service industry, private label segments of larger retailers and the manufacturing of products for brand owners, as well as its own branded products.

Marcyrl Pharmaceutical

Private Equity Round in 2023
Marcyrl Pharmaceutical is one of the largest leading pharmaceutical company manufacture generic products.

Université Privée de Marrakech

Private Equity Round in 2014
Université Privée de Marrakech is one of the foremost private higher education providers in Morocco and serves over 2,000 students.

ABI

Venture Round in 2017
ABI is the Côte d’Ivoire-incorporated holding company for Groupe Banque Atlantique, a leading West African financial services group operating in the banking and insurance sectors. Founded in 1978, it has been controlled since 2012 by the Banque Centrale Populaire (“BCP”), one of Morocco’s leading banks. ABI operates in all 8 UEMOA countries with branches in Benin, Burkina Faso, Mali and Senegal amongst others.

B.TECH

Private Equity Round in 2016
B.TECH is Egypt’s household appliances and consumer electronics retailer.
Compagnie Marocaine De Goutte A Goutte Et De Pompage engages in the distribution of irrigation equipment, installation of irrigation projects, geomembrane basins, and stations. It offers micro-irrigation, stations and filtration, control and regulation, automatism, fertilization, pumping products, coatings and basins, greenhouses, nets, pivot, watering, pipelines, accessories, solar energy, desalination, and machinery. The company was founded in 1995 and is based in Casablanca, Morocco.

MNT investment B.V

Merger/Acquisition in 2018
MNT investment B.V is headquartered in Netherlands. MNT investment B.V operates as a subsidiary of GB Auto (S.A.E.).

Channel VAS DMCC

Private Placement in 2019
Channel VAS DMCC provide loan services. Its services include mobile financial services, such as xtracash, pay-as-you-go electricity, and micro and nano loans; airtime and data credit provides credit services to its subscribers through its digital financial platform (DFP) platform; and handset loans, which includes device loans, which is a loan service provided by the company to allow its customers to purchase a smartphone; and big dat analytics, which includes collection and analysis of data points which are further used by the customers for developing predictive methodologies. The company was founded in 2012 and is based in Dubai, United Arab Emirates with an additional office in Gerakas, Greece.
International Facilities Services Mauritius Limited provides facilities management services in remote locations in Africa. It offers catering services, including industrial and institutional catering, light meals, banqueting, fast food, event, mass feeding programs, deli bars, braais/barbecues, A la carte meals, beverage services, and specialized meals for medical diets; and construction services, such as design, engineering, and construction of accommodation camps. The company also provides housekeeping services; laundry services; and additional services, including access control, IT support, recruitment, accommodation management, light maintenance, recreational, asset management, mail and message, retail, call center and reception, malaria control, restaurant, camp management, mechanical and electrical maintenance, security, general and specialized cleaning, occupational health and safety, sewerage treatment, coffee shop, pest control, transport, convenience stores, porters, warehousing, event management, potable water, waste management, environmental, procurement and logistics, water and sewerage reticulation, grounds maintenance, project management, and help desk services. It serves public institutions and companies in various industries. The company handles various projects in Botswana, DRC, Mozambique, Namibia, South Africa, and Zimbabwe. International Facilities Services Mauritius Limited was founded in 2000 and is based in Mapou, Mauritius.

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.

Eaton

Private Equity Round in 2011
Eaton Towers Limited, a telecom tower company, acquires, builds, and leases shared infrastructure services to mobile and data network operators. It offers build-to-suit towers, co-location services, in-building solutions, small cells, sale and leaseback, and managed services. Eaton Towers Limited was formerly known as ETW Africa Holdings UK Limited and changed its name to Eaton Towers Limited in May 2012. The company was founded in 2009 and is based in London, United Kingdom. It has operations in Ghana, Uganda, Kenya, Burkina Faso, and Niger.
Compagnie Marocaine De Goutte A Goutte Et De Pompage engages in the distribution of irrigation equipment, installation of irrigation projects, geomembrane basins, and stations. It offers micro-irrigation, stations and filtration, control and regulation, automatism, fertilization, pumping products, coatings and basins, greenhouses, nets, pivot, watering, pipelines, accessories, solar energy, desalination, and machinery. The company was founded in 1995 and is based in Casablanca, Morocco.

AXA Mansard

Secondary Market in 2015
AXA Mansard is a member of the AXA Group, the worldwide leader in insurance and asset management with 166,000 employees serving 107 million clients in 64 countries. The group is a conglomerate of independently run businesses, operated according to the laws and regulations of many different countries. Despite being written in upper case, "AXA" is not an acronym, the name was chosen because it is short and can be pronounced easily the same way in every language. AXA is present in geographically diverse markets, with operations concentrated in Europe, North America and Asia Pacific. AXA’s is also present in Central and South America, Middle East and in Africa via operations in Cameroon, Gabon, Ivory Coast, Morocco, Senegal and Algeria. AXA has more than over 20 year’s continuous presence in Africa. In 2016, IFRS revenues amounted to Euro 100.2 billion and IFRS underlying earnings to Euro 5.7 billion. AXA had Euro 1,429 billion in assets under management as of December 31, 2016. AXA Mansard was incorporated in 1989 as a private limited liability company and is registered as a composite company with the National Insurance Commission of Nigeria (NAICOM). The Company offers life and non-life insurance products and services to individuals and institutions across Nigeria whilst also offering asset/investment management services, health management services and pension fund administration through its three subsidiaries AXA Mansard Investments Limited, AXA Mansard Health Limited and AXA Mansard Pensions Limited. From 2004 to 2015, AXA Mansard Insurance grew its turnover at a compounded annual growth rate (CAGR) of 55%. In 2016, GWP was NGN 20.7 billion, while net income was NGN 10.9 billion, a 10% increase over 2015. The company has progressed from the 97th position out of 109 insurance companies existing in 2003 to one of the top 4 out of 58 insurance companies in 2016. This growth has attracted the attention of analysts from across the world. AXA Mansard Insurance was listed on the Nigeria Stock Exchange in November 2009. In December 2014, AXA Mansard became a member of AXA following AXA’s acquisition of Assur Holdings (AAH), the majority shareholders in the erstwhile company. AXA Mansard Insurance plc is rated B+ by A.M. Best (2016) for Financial Strength. The Company is also certified ISO 9001:2008 compliant by the Standard Organisation of Nigeria (SON) for quality management systems.

KELIX bio

Venture Round in 2022
KELIX bio is a specialty generic business focused on delivering high complexity products to underserved populations across emerging markets.

Pan African Towers

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

Ukheshe Technologies

Series A in 2022
Developer of a micro-transaction platform designed to facilitate digital banking and payment services. The company's platform offers an easy-to-use, affordable alternative mode of payment and transfers to anyone with a cellphone number irrespective of the fact that whether the individual has a bank account or not, enabling users to make payments through the application thereby eliminating the need for users to carry cash everywhere.

Halan

Venture Round in 2021
Halan is a ride-hailing application that provides two and three-wheeler vehicle rides and on-demand logistics. The application also caters to businesses, offering smart-tech last-mile delivery through their integrated smart services using motorcycle and tricycles. It allows customers to request motorbike or tuk-tuk rides, or order food or goods for delivery via motorbikes or cargo tricycles. Halan also offers on-demand logistics solutions to support large organizations and small businesses alike in their distribution and supply chain. It also provides convenience and safety, while for the driver it offers incremental business. The application has delivered partnerships with fast-food chains like McDonald’s, KFC and Pizza Hut in Egypt. Halan was founded in November 2017 and is based in Cairo, Al Qahirah, Egypt.

MNT-Halan

Venture Round in 2024
MNT-Halan is a microfinance lending and payments company.