Dubai-based Invictus Investment Company, a leading agro-food venture in the center East and Africa, has actually protected a funding transaction from the Mauritius Commercial Bank Limited (MCB), which will certainly support the company’s expansion into new African markets and enhance its functioning funding setting as it continues to scale its operations.
The funding bundle, which builds on Invictus’ present collaboration with MCB, is structured as a procurement finance and revolving debt facility.
It will provide the funding versatility required to increase Invictus’ impact in processing, logistics and circulation. It will certainly also sustain the development and debt consolidation of a portfolio of value-added, durable food and FMCG possessions throughout the African continent and offer regional and local markets.
Amir Daoud Abdellatif, Chief Executive Officer of Invictus Investment, stated: “The financing agreement with MCB underscores the self-confidence our companions have in Invictus Investment’s monetary and functional performance and our ability to supply lasting development and value production.
“It provides us better adaptability to optimise our funding structure and proceed broadening throughout high-growth markets and sustains our vision to develop a fully integrated venture that adds to food security in the center East and Africa.
“We see this as an essential step towards creating a wider network of companions at multiple degrees that are working together to supply lasting worth for neighborhoods and develop long-term food durability across regions.”
Thierry Hebraud, CEO of MCB, included: “The connection with Invictus Investment is of calculated worth for us, as it straightens well with our determination to establish long-lasting partnerships with multinationals doing business in Africa.
“This vital financing package encompassed Invictus Financial investment highlights MCB’s purpose to support agro-processing gamers involved in food safety and security across the continent. It likewise shows the financial institution’s capability to framework advanced financing services to support its clients and their ecological communities, while making use of money to develop a sustainable future for our clients and areas.”
In June this year, Invictus had said it plans to make a 3rd procurement this year in Africa, following its acquisition of Merec Industries in Mozambique and the finalizing of a contract to obtain 65 percent of Angata in Angola.
In a declaration submitted with Abu Dhabi Stocks Exchange, Invictus claimed: “Structure on this, we will certainly continue to buy midstream and downstream possessions in the worth chain in crucial African markets, targeting the procurement of bulk risks in endeavors valued in between US$ 200 – 300 million to widen our market visibility and product profile– with prepare for a third procurement in the fundamental foods segment this year.”
Headquartered in Dubai, Invictus Financial investment was established in March 2022 It now has a profile that extends over 30 item groups, among them barley, corn, sesame, soya bean, sugar and wheat, and operates throughout 65 countries.
