Actis invests in Kenyan marble exporter

ACTIS, a leading private equity investor in emerging markets, has acquired a 70 per cent stake in Sinai Holding for Marble & Investments (Sinai Marble). Sinai Marble is an integrated marble producer with exports to over 40 countries, and is one of Egypt's leading marble exporters.

With more than $3.4 billion under management, Actis is an experienced private equity investor in Africa, with nearly 60 years of investing in emerging markets. The firm has more than $1 billion in funds under management in Africa alone, with offices in Cairo, Lagos, Nairobi, Johannesburg and Casablanca, supported by a team of specialists in London. Actis first opened an office in Egypt in 2001.

Marble is quickly becoming one of Egypt's globally competitive industries. As one of the few producers of scale in Egypt, Actis's investment will help fund Sinai Marble's ambitious expansion plans to increase internal quarrying capacity, from two quarries to seven, and introduce new quarrying areas and marble colours to its existing range of Egyptian marble.

The funding will also be used to build a marble processing plant in Egypt's Badr industrial city, which will triple Sinai Marble's finished product capacity. Actis investment manager, Mr Hossam Abou Moussa, said: "We plan to help the business introduce world class governance, health, safety and environmental standards which will turn Sinai Marble into an industry role model within this high growth sector and help consolidate its market leading position."

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