DOB Equity invests Sh400 million in warehousing company
DOB Equity Chief Executive Brigit van Dijk-van de Reijt (left), with the firm’s investment manager, Ms Saskia van der Mast (centre) join Countryside Dairy MD George Mwangi in a toast to celebrate an investment deal last year. FILE PHOTO | NMG
DOB Equity paid Sh400 million for an undisclosed stake in Africa Logistics Properties Holding during a fundraising drive.
The Dutch firm said this would enable ALP to enhance its capacity to offer one-stop warehousing-cum-distribution solutions to multinationals keen on expanding operations across East Africa.
The firm said Kenya is an ideal location for any multinational seeking a foothold in Eastern and Central Africa.
Dutch-owned DOB Equity is among a consortium of international investors that bought stakes in Nairobi-based warehouse developer Africa Logistics Properties Holding (ALP).
DOB Equity’s chief executive Brigit van Dijk-van de Reijt confirmed it had paid Sh400 million for an undisclosed stake during a fundraising drive.
The fundraising also attracted UK government investment arm International Finance Corporation, diversified investment firm Maris, and Mbuyu Capital.
The Dutch firm said this would enable ALP to enhance its capacity to offer one-stop warehousing-cum-distribution solutions to multinationals keen on expanding operations across East Africa.
“The warehousing supply in East Africa is still fragmented, often located in congested areas and lacks overall industrial quality. It can be unsuitable for occupiers because of high operational and cost inefficiencies that hamper international companies looking to set up up local operations and prevent local SMEs to reach scale,” she said.
ALP chief executive and co-founder Toby Selman welcomed the DOB entry saying its involvement in the small and medium enterprise segment in Kenya had provided them with the much-needed clientele and local knowledge to power a logistics business.
DOB equity investment manager Saskia van der Mast said Kenya was an ideal location for any multinational seeking a foothold in Eastern and Central Africa.
DOB believes the ALP model of a large multinational logistics hub with a regional network of warehouses would help ease distribution costs as well as shorten the distribution chain thereby creating an efficient manufacturer-retailer link.
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