Fanisi Capital eyes adverts market with acquisition

Fanisi Capital has taken up a minority stake in outdoor advertising firm Live Ad Ltd in its first investment in the industry.

Fanisi and Live Ad said in a joint statement that the investment will be used to fund a drive to increase Live Ad’s presence across the region. The two companies did not, however, reveal the value of the deal.

Fanisi typically invests between $50,000 (Sh4.7 million) and $15 million (Sh1.42 billion) in companies for periods of between three and six years through its $50 million (Sh4.7 billion) fund.

The private equity firm’s previous investments are in agribusiness, IT, education, healthcare and fast moving consumer goods (FMCG) sectors.

“The Live Ad partnership with Fanisi will provide the impetus needed to take the company (Live Ad) through its growth vision, establishing itself as a strong regional player,” said Fanisi Capital managing partner Ayisi Makatiani.

Joint venture

Live Ad CEO James Maina said the firm will look to increase the number of billboards it owns over the next four years. The total currently stands at 200 in Nairobi and other towns across Kenya. The company said it will also use the funds to grow its presence in the counties.

Fanisi Kenya’s investment portfolio includes Haltons, a retail pharmacy chain currently operating over 25 outlets in Nairobi, Ngare Narok Meat Industries which owns an abattoir in Rumuruti, Hillcrest International Schools, and Nairobi-based pizza vendor European Foods Africa Ltd (EFAL).

READ: Haltons drugs stores to open in Tuskys outlets

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The firm has also partnered with Barclays Africa and Chandaria Industries in a joint venture to launch a life insurance firm.

The Johannesburg-based Barclays Africa is the controlling shareholder of Barclays Life Assurance Kenya with a two-thirds stake—with the remainder held by Fanisi and Chandaria.

Fanisi has also invested in Rwandese companies —maize miller Minimex and Sophar, a pharmaceutical wholesaler and distributor.