In a transaction aimed at supporting economic growth in Africa, KAS Africa has added significant strength to its balance sheet with a $10mn investment from TRT Investments. The deal will also boost the capacity of this contract manufacturer to execute its aggressive growth plans.
KAS Africa is a leading contract manufacturer of personal care, home care, baby and oral care products. Based in Midrand, Gauteng, the company offers a full basket of in-house services from research, design, testing and sourcing of raw materials to production, packaging and the delivery of premium quality products.
This venture by TRT Investments includes the purchase of a 49% stake in KAS Africa as well as capital to purchase a new plant and equipment to build the manufacturer’s capacity and capabilities. The transaction also provides KAS Africa with access to working capital facilities put in place by TRT Investments with the support of the African Export-Import Bank.
Women in manufacturing
“As a majority black woman-owned business, we believe continental domestic investment and confidence can transform Africa into an economic superpower. There is a close fit between our contract manufacturing business and TRT Investments’ vision for unleashing Africa’s potential as an industrial powerhouse of the future,” says Vinny Perumal, CEO of KAS Africa.
“Over the years, we have built one of the continent’s foremost manufacturing plants in terms of size, volume, product variety and capability standards. We have earned a reputation for delivering quality, localised and flexible manufacturing capabilities, which meet the most rigorous international standards. In partnership with TRT Investments, we will be able to move this innovative business to the next level.”
Aggressive growth plans
The transaction will enable KAS Africa to ramp up capital investment in line with its plan to expand in South Africa and throughout Africa. Among other plans, the contract manufacturer will enhance its product range, expand its client base and build state-of-the-art, world-class manufacturing facilities across the continent.
Adam Molai, chairperson at TRT Investments: “We have bought a significant share in KAS Africa because it fits into our strategy of industrialising Africa and helping to build the continent into the alternate supply chain of the world. Our objective is to increase KAS Africa’s breadth and depth and to grow the company aggressively. We are particularly excited about the company’s potential for expansion into East and West Africa.”
TRT Investments is a Mauritian independent investment holding business with more than $200mn in assets under its management. The company manages a diverse portfolio of investments across Botswana, Mozambique, Nigeria, South Africa, Zambia, Zimbabwe, the United States and Europe.