The Kibo Fund, launched on 5 May 2008, is a close ended private equity fund with a limited life of 10 years. It closed at Euro 28.9m, with CIEL Investment commited to contribute Euro 11.5m. The Fund is managed by CIEL Capital (international) Limited, a subsidiary
of CIEL Capital Limited.
CIEL Capital believes the economic zone comprising Southern
and Eastern Africa, Mauritius and the other islands of the Indian
Ocean represents a compelling opportunity for private equity
investment. Several factors are converging to support this view
and create an environment to produce value for investors:
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Favourable economic conditions. |
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Rapidly changing corporate landscape. |
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Private Equity becoming a key financial tool. |
The Fund targets primarily Mauritius, Tanzania, Madagascar,
Mozambique and Kenya but will also consider investment opportunities
in Zambia, Uganda, South Africa, Angola, and Botswana.
Given Mauritius unique access to francophone
and Anglophone Africa, and its cultural proximity with India,
it is emerging as a hub between Africa and Asia. CIEL Capital,
with its historical presence on the ground and good understanding
of local cultures, is well-positioned to take advantage both
in Mauritius and in the region, of this new economic landscape.
The Kibo Fund will be opportunistic in its approach towards
target sectors. It is however anticipated that a number of
high potential sectors will feature in the Kibo Fund's portfolio
of investments:
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Tourism & Leisure |
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Banking & Financial Services |
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BPO and Telecoms |
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Property |
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Energy |
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Natural Resources |
The Fund will favour strong minority positions in expansion-stage
projects. Other transactions will also be considered.
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