Nairobi-based private equity (PE) firm Ascent Capital has raised from $100 million (Sh10.7 billion) from the World Bank and top sovereign funds for acquiring stakes in local companies across Eastern African.
The cash was raised from the World Bank Group’s private sector arm, the International Finance Corp (IFC), the UK government-owned finance agency, the CDC Group, Dutch development financier FMO, and the French development finance institution, Proparco alongside other high net worth investors.
