Dubai-based Invictus Investment Company, a leading agro-food enterprise in the Middle East and Africa, has secured a financing transaction from the Mauritius Commercial Bank Limited (MCB), which will support the company’s expansion into new African markets and strengthen its working capital position as it continues to scale its operations.
The financing package, which builds on Invictus’ existing partnership with MCB, is structured as an acquisition finance and revolving credit facility.
It will provide the funding flexibility needed to expand Invictus’ footprint in processing, logistics and distribution. It will also support the growth and consolidation of a portfolio of value-added, resilient food and FMCG assets across the African continent and serve local and regional markets.
Amir Daoud Abdellatif, CEO of Invictus Investment, said: “The financing agreement with MCB underscores the confidence our partners have in Invictus Investment’s financial and operational performance and our ability to deliver sustainable growth and value creation.
“It gives us greater flexibility to optimise our capital structure and continue expanding across high-growth markets and supports our vision to develop a fully integrated enterprise that contributes to food security in the Middle East and Africa.
“We see this as an important step towards creating a broader network of partners at multiple levels that are working together to deliver lasting value for communities and build long-term food resilience across regions.”
Thierry Hebraud, CEO of MCB, added: “The relationship with Invictus Investment is of strategic value for us, as it aligns well with our willingness to develop long-lasting relationships with multinationals doing business in Africa.
“This important financing package extended to Invictus Investment highlights MCB’s objective to support agro-processing players involved in food security across the continent. It also demonstrates the bank’s ability to structure sophisticated financing solutions to support its customers and their ecosystems, while using finance to create a sustainable future for our clients and communities.”
In June this year, Invictus had said it plans to make a third acquisition this year in Africa, following its purchase of Merec Industries in Mozambique and the signing of an agreement to acquire 65 per cent of Angata in Angola.
In a statement filed with Abu Dhabi Securities Exchange, Invictus said: “Building on this, we will continue to invest in midstream and downstream assets in the value chain in key African markets, targeting the acquisition of majority stakes in ventures valued between US$200-300 million to broaden our market presence and product portfolio – with plans for a third acquisition in the basic foods segment this year.”
Headquartered in Dubai, Invictus Investment was established in March 2022. It now has a portfolio that spans over 30 product categories, among them barley, corn, sesame, soya bean, sugar and wheat, and operates across 65 countries.
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