Alterra Capital Partners has announced an investment in ARP Africa Travel Group, collaborating with the founding family to drive the company’s expansion across East Africa and beyond.
ARP Africa Travel Group, which operates Pollman’s Tours and Safaris Limited in Kenya, Ranger Safaris in Tanzania, and ARP Africa Travel in the United Kingdom, specializes in destination management services in East Africa.
Established in 1978 in Tanzania, the company partners with travel agents in 50 countries across five continents, curating travel experiences for international visitors to the region.
Genevieve Sangudi, a partner at Alterra Capital Partners, highlighted the company’s strengths, stating:
“ARP Africa is a well-established business with a strong market presence, a highly capable management team, and excellent growth potential. We are thrilled to collaborate with the founding family, represented by Taqi and Zaheer Moledina, to support ARP’s expansion, create quality employment opportunities, and contribute to conservation efforts in East Africa.”
ARP Africa CEO Taqi Moledina expressed enthusiasm about the partnership, saying:
“We are eager to work with Alterra as we embark on the next phase of our growth. With Alterra’s expertise in scaling businesses across Africa, they are the perfect partner to help us seize new opportunities and shape the future of tourism in the region.”
The transaction is subject to regulatory approvals, and the financial terms of the deal have not been disclosed.
“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.
Egyptian social commerce platform Taager has successfully raised $6.75 million in a pre-Series B funding round to accelerate its growth within the Middle East and North Africa (MENA) region and enhance its technological capabilities.
Ghanaian-Ugandan fintech platform, Fido, has announced a significant boost to its operations with the successful acquisition of $10 million in Series B funding.
Standard Chartered Bank and British International Investment (BII), the UK’s development finance institution, have signed a $350 million risk participation agreement aimed at supporting the trade finance needs of small and medium-sized enterprises (SMEs) and corporates in Africa and South Asia.
© 2021 Empower Africa. All rights reserved.
