Kibo Capital Partners (KCP) today announced an investment in Saviu Ventures Ltd, an investment company whose objective is to partner with promising technology companies in East and West Africa, driving growth through financial, managerial and strategic support. The investment was done through the Kibo Fund II.
The investment is a play on the rapid emergence of the technology space in sub-Saharan Africa. According to the lead partner on the transaction, Mr Thierry Hugnin, rapid digitalization across industries is enabling of a number of innovations and has disrupted traditional brick and mortar markets. By investing in Saviu, Kibo will have the opportunity to actively participate in this development and create significant synergies to its existing portfolio of investments.
Financial details of the transaction were not disclosed.
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