Gateway Partners in Tanzania logistics deal
Gateway Partners in Tanzania logistics deal
Gateway Partners has made a $10 million debt investment into Usangu Logistics.
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Gateway Partners has announced a $10 million debt investment into Usangu Logistics, an African transport logistics services provider.
Through this funding, Gateway will support the growth and development of Usangu Logistics in Tanzania by providing a term loan facility to expand the company’s truck fleet. The debt investment comes from the Africa Credit Opportunities Fund (ACOF), an investment vehicle backed by the Fund for Export Development in Africa (FEDA), a subsidiary of Afreximbank.
ACOF CEO, Andy Bainbridge, commented, “Our investment in Usangu is an important addition to our portfolio, aligning directly with ACOF’s objectives of job creation and trade enablement. We are excited to partner with this indigenous, family-owned business, where our funding will play a vital role in supporting the next phase of growth.”
Commenting on the investment, Saad Ismail, CEO of Usangu said, "We are thrilled to partner with Gateway Partners and FEDA in this significant milestone for Usangu Logistics. This $10m debt investment will enable us to expand our fleet and enhance our ability to provide high-quality transport and logistics services across Tanzania and the wider region. The support from Gateway’s Africa Credit Opportunities Fund, along with the backing of FEDA and Afreximbank, will be instrumental in accelerating our growth and strengthening our capacity to meet the evolving needs of our clients. We look forward to achieving new milestones and delivering greater value to our stakeholders.”
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