Abu Dhabi - Mubasher: Invictus Investment Company plans to inject around AED 1 billion in North and East Africa to expand its footprint in the region through acquisitions and joint ventures (JVs) with leading local entities.
The UAE-based company highlighted that it will focus on various markets, including Morocco, Algeria, Kenya, Tanzania, and Mozambique among others, according to a press release.
The expansion plans aligned with the ADX-listed firm’s strategy to leverage its core competency in agro-food and grains trading but also to diversify into logistics and food processing.
Invictus entered into a strategic partnership with Safeen Feeders, a wholly owned subsidiary of AD Ports Group, in 2022 to launch an international dry bulk shipping service with an initial investment commitment of nearly $126 million.
As for this year, Invictus is focusing on building its presence by investing in the food processing space across Africa to further reinforce its trading business and build access to consumers in the region.
Amir Daoud Abdellatif, CEO of Invictus, said: “Our planned partnerships and acquisitions will allow us to expand across the value chain to also include final consumables such as finished products, such as flour mixes, pasta, noodles, poultry and animal feed among others.”
“Central to our ambition is to ensure we diversify across products and markets. In each of these markets, we have identified leaders who can help us elevate our offerings while setting us on a growth trajectory,” Abdellatif continued.
It is worth underlining that Invictus recently completed more than one million metric tonnes of agro-commodity exports to Egypt during this year.
