Standard Bank partners with Tana Africa Capital to support their growth ambitions in Africa
19 Apr 2022
Standard Bank Group is proud to announce its funding into Tana Africa Capital II (“Tana Africa Capital”), an investment company which aims to build African companies through growth capital, operational and strategic support. Tana Africa Capital has a portfolio spanning the Education, agribusiness, FMCG, retail and healthcare sectors with operations in more than 20 countries across north and sub-Saharan Africa.
The Standard Bank Group has entered into a funding agreement with Tana Africa Capital to provide a US$22.5 million fund term loan, in support of their growth ambitions in Africa.
Over the last decade, Tana Africa Capital has established its role as a strategic capital allocator on the African continent. The fund believes in implementing a long-term partnership approach, which includes providing industry expertise and access to its extensive networks to facilitate tangible growth for its investee companies.
The facility will support the Tana Africa Capital fund base, enabling the fund to access key target investments in high-growth sectors and to pursue future investments that will continue to grow and create opportunities for economic and financial sustainability on the African continent.
This fund loan is an important step as we seek to build great businesses across the African continent, create quality employment opportunities and other social benefits in the countries in which we operate and deliver returns for our shareholders. We thank Standard Bank for their ongoing support. - Mark Tindall, CEO and Managing Director, Tana Africa
Standard Bank is committed to driving growth across Africa. Through this valued partnership with Tana Africa Capital, Standard Bank’s Equity Finance team – a team with expertise across sectors in Africa - has been able to execute on its mandate on supporting our clients with funding their African ambitions.