As part of its continued efforts to contribute to the diversification of the economy, Botswana Development Corporation (BDC) has acquired a significant stake in Kamoso Africa.
Founded in 2015, Kamoso currently employs over 1,200 Batswana across its different business lines and has established itself as one of Southern Africa’s leading manufacturing, supply and distribution companies.
The stake – a 24 percent shareholding – was acquired from Ninety One Africa Private Equity Fund, RMB Ventures and other shareholders.
Kamoso’s product range consists of diversified fast-moving consumer goods, pharmaceuticals, liquor, building materials and equipment.
Operating six manufacturing facilities, 11 warehouses and a fleet of over 100 delivery vehicles, the Fast-Moving Consumer Goods segment supplies value-for-money consumer goods in Botswana, South Africa and Zambia.
Kamoso’s Mediland affiliate is one of the leading suppliers of medical products in Botswana.
Commenting on the transaction, BDC’s Investment Principal, Oteng Keabetswe said, “We are excited to add to our portfolio a company that will aid our quest to build a resilient supply chain towards realizing food and health security for the nation and the timing can never be more right in these difficult times as the country battles with Covid-19.”
Keabetswe said BDC is looking forward to leveraging off the networks of its co-investors in taking a homegrown business to the regional market, a key milestone in supporting BDC’s international expansion mandate.
Kobi Sam, Investment Director at Ninety-One expressed delight at bringing BDC on board, adding that given BDC’s resources and networks, Kamoso expects to reap significant synergies from the partnership with its shareholder.
The new partnership is expected to not only strengthen Kamoso’s position domestically, but also expand the business across the SADC region whilst retaining the business’ unique Botswana roots.
