Private Equity

The Silk Private Equity food fund pursues direct equity investments in the consumer market throughout Africa We focus mainly on food and beverage though will also retain the scope to look at other consumer investments.

The African Food Fund

The Silk Africa Food Fund is our main flagship private equity fund and invests in successful African Food Companies and enables them to achieve the scale to satisfy and benefit form a rapidly rising consumer market across the African continent. It is the only Africa-focused private equity fund investing exclusively in the B2C food sector.

Rather than investing in agriculture or other sectors at the top of the value chain, our focus is on businesses that offer value added food products to the consumer market. Our investment strategy typically targets scalable food and beverage companies and retail outlets.

We mostly operate in the countries that have large populations for the simple reason that these are the places with the biggest opportunity set. There is also a direct relationship between the number of people in a country and the size of its economy.

Silk Invest Africa Food Fund | Portfolio Companies

NAS Foods Plc

NAS Foods Ltd. (NAS) is an Ethiopian biscuit manufacturer which was established in 1999. The company is headquartered in Addis Ababa and typically employs over 670 people on an on-going basis. The company produces a range of biscuits that extends across the high, middle and low income segments of within Ethiopia and distributes its products nationwide.

NAS Foods is the first company to produce and distribute a variety of international standard biscuits in the country. It is equipped with the latest technology imported from Italy, France and Turkey. Nas Foods Plc’s long term vision is to enhance consumer tastes and preferences and ultimately cover the developing demands of the food industry.

El Rashidy El Asly

A Cairo based confectionery firm, which produces halawa and tahina, part of the Egyptian staple diet, as well as biscuits, chocolate spread, and other sweet delicacies. The company is been in operation since the year 1888 and it has become a true household brand in Egypt.

El Rashidy is mostly known for its sesame-based products and traditional confectioneries. It was also the first company to introduce the chocolate coated Wafer in Egypt. This is our longest standing private equity investment.

Sundry Foods Limited

A leading food services provider in Nigeria. It operates a chain of quick service restaurants around the country in Lagos, Port Harcourt, Abuja and a number of other Nigerian cities.

Sundry Foods is well known for its brand-name “Kilimanjaro’, which has established itself as a market leader in that sector. Sundry Foods has developed a fast food concept, which combines traditional Nigerian cuisine with western fast food and is targeted at the fast growing middle class market.

Our African private equity capability is managed by a multi-regional investment team with local knowledge and presence combined with demonstrated experience in both the private equity and the food industries.

How we invest

Silk Invest applies a well-defined, disciplined investment approach to each asset class, that aims to deliver returns over different market cycles in a consistent manner.

Within Equities, Silk Invest’s strategy focuses on investing in stocks which will both outperform their local peers and become true leaders in their field. We strongly believe in the short and long-term structural opportunity in the frontier markets, and the advantages for investment analysts and decision makers to be on the ground to capitalize on it. Silk Invest’s investment process incorporates fundamentally-driven, bottom-up stock analysis designed to outperform in the longer term with reduced volatility.

We maintain an unconstrained non-benchmark approach and invest in companies with successful local business models whose demand is driven by local consumers. The portfolio building process incorporates ESG standards and is designed to maximize annual returns while maintaining maximum diversification across the regions and sectors. The investment approach of Silk Invest is built upon these insights and perspectives.

 

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