December 21, 2018, Lagos, Nigeria – ACA is happy to announce the exit from the CAPE III investment in Wakanow. Wakanow is the leading Online Travel Agency (OTA) in West Africa. The Company utilized the CAPE III investment to grow 3 fold during the four year holding period. The Company will now be embarking on a further expansion to become the leading OTA in Africa and CAPE III exited as part of the transaction to fund this additional growth. ACA wishes the company and the management success in the new expansion.
December 17, 2018, Lagos, Nigeria – Blue Water Lagos, also termed the “Ultimate Lifestyle Community” is a contemporary mixed-use development that sits on a 37,000 square meters expanse of sea view land, crafted beautifully with quality and comfort embedded in its design.
Located in the heart of Lekki Phase 1, Blue Water Lagos is made up of 5 residential buildings, blended with commercial spaces, modern conveniences and exciting development features. Its top-notch amenities include leisure, entertainment and recreational facilities that encourage social interaction and passive recreation, and the commercial spaces offer top brands the opportunity to provide quality services for the residents.
It is been developed by Elalan Group and African Capital Alliance, and master planned/designed by Ngonyama Okpanum & Associates. The project is on schedule with completion due by the end of December 2019.
December 14, 2018, Ogun, Nigeria – Daraju Industries Limited, a leader in the production of household and personal care products in Nigeria, with leading brands such as MYMY, Extreme, Fressia and Rana, commissioned a 3,000 Metric Tonnes Detergent Plant in the company’s factory in Ota.
The newly commissioned detergent plant is the third in the company’s factory complex, following the first two commissioned in 2012 and 2015. The newly commissioned plant doubles the company’s detergent production capacity and is part of a series of capital investments that will support the transformation of its business processes.
The new detergent plant strengthens the company’s long-term plans to become the market leader in the laundry care segment of the FMCG industry. It also highlights one of CAPE IV’s value creation initiatives for the business, which include improving production capacity, boosting business efficiencies, cost optimization via backward integration and process improvements.
It is expected that the newly commissioned plant will play a pivotal role in increasing the company’s market share in the laundry care segment, and in improving brand awareness in its market.