Investec Asset Management, through its Africa Private Equity capability, in a consortium with RMB Ventures, local partners, and senior management have completed a buy-out of Kamoso, a Botswana-based retailer and consumer goods company. The transaction is believed to be Botswana’s largest ever private-equity investment.

Kamoso is a leading manufacturer and supplier of consumer goods and healthcare products to retailers in Botswana, South Africa, Zambia and Zimbabwe. The Company operates from facilities in Botswana and South Africa. Kamoso also operates Liquorama, Botswana’s leading liquor retailer, and Builders Mart, a leading DIY and hardware chain. The Company was formed in 2015 as part of an investment by Development Capital Partners, a New York investment firm and Standard Chartered Private Equity.

Both firms have now sold their shareholdings. Over the last few years, Kamoso has expanded from its roots in Botswana to supply retailers across southern Africa. The Company has also invested heavily in new capital equipment to expand its consumer product offerings, which range from paper products to pharmaceuticals, and from bottled water to milled grains. In addition, Kamoso distributes an increasing number of imported consumer brands. Management has big expansion plans and will benefit from continued investment by the new ownership consortium to support its growth.

“Kamoso has a long track record of supplying top quality products at the best prices. It has built a strong business on providing value for money, including in its retail offerings. It is well positioned to develop into a regional champion from a strong base in Botswana.”
Peter Baird Head of African Private Equity, Investec Asset Management