Deals - Jan 25, 2023

Asafo & Co. advised 54 Capital on its $21 million growth capital investment, alongside Norfund, in Ethiopia’s largest fast-moving consumer goods (FMCG) platform SAMANU.

54 Capital managed a consortium of private investors and worked alongside Norfund in this investment, which is expected to increase the local production of edible oil, create jobs and reduce dependency on imported products. The development of SAMANU’s FMCG platform combined with opportunities of local food production also has the potential to enhance value chains within Ethiopia, contribute to food security in the region and also allow for increased export opportunities within the sectors the company already operates.

The Asafo & Co. team advising 54 Capital was led by partner Patrick Larrivé who was assisted by Martin Van Box Som (associate).