IBL Limited, which owns an indirect stake of 37.32 percent in supermarket chain Naivas Limited, is set to invest an additional $60 million (Sh9 billion) in new buyouts in the East African region as it seeks to diversify from its home market of Mauritius.
Most of its recent investments have been in Kenya where it has spent more than Sh20 billion to buy the Naivas stake as well as majority ownership in solar firm Equator Energy and pharmaceutical distributor Harley’s, which also operates in multiple countries in the region.
