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Stanlib-backed firm acquires stake in Dar cement bags manufacturer

Stanlib joined EXEO Capital in 2015 as an
Stanlib joined EXEO Capital in 2015 as an equity partner. FILE PHOTO | NMG 

Stanlib-backed EXEO Capital has announced it has acquired a minority shareholding in PPHL, the Tanzanian maker of woven polymer-based cement bags vendor.

Following the investment, EXEO said it would seek additional opportunities for the Tanga-based firm that specialises in production of bags, sacks and tarpaulins for the agriculture and cement industries.

“As a long-term investment destination, Tanzania remains attractive for EXEO, it is just a matter of identifying the right investee companies to partner with,” said Avril Stassen, a senior partner at EXEO Capital in a statement.

“PPHL’s fully-owned Tanzanian subsidiary, PPTL, is a regional leader in the production of woven polymer-based extruded products and has already demonstrated a strong social impact, which the growth strategy will further enhance.”

In Kenya, EXEO’s portfolio includes Asilia, a 12-year old eco-tourism business operating in the high-end market segment and Kariki Ltd, a Kenyan summer flower producer.

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Stanlib, the pan-African asset manager with a presence in ten Sub-Sahara African countries including Kenya, joined EXEO Capital in 2015 as an equity partner.

“As a long-term investment destination, Tanzania remains attractive for EXEO, it is just a matter of identifying the right investee companies to partner with,” said Mr Stassen.

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