Injaro subsidiary invests in Samsung distributor
Injaro subsidiary invests in Samsung distributor
Investment Capital Partners, a subsidiary of Injaro Investments, has completed its first investment in Cabo Verde.
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Investment Capital Partners (ICP), a subsidiary of Injaro Investments, has completed its first investment in Cabo Verde through the Pro Impacto Fund. The investment was made in M&J Tech, which was founded in 2018 by two young Cabo Verdeans, with a vision of becoming the preferred supplier of consumer electronic and home white goods. The company is a licensed distributor of Samsung products in the country.
Jacqueline Carvalho, the director of M&J Tech stated, "We are happy about the possibilities this collaboration brings. With Injaro's experience in nurturing small businesses such as ours, we are confident that we will be up to the challenge of distributing through the nine islands of our country and also have a footprint in a couple of West African countries close to us."
"The investment will enable M&J Tech to expand its territorial network, and improve inventory management to achieve working capital efficiencies and higher profitability. We continue to build our pipeline with the aim of investing in more SMEs to support Cabo Verde's post-COVID recovery effort," commented João Carlos Silva, country manager of ICP.
Jerry Parkes, CEO of Injaro Investments added, "M&J Tech represents our first investment in Lusophone Africa and the Pro Impacto Fund. We greatly appreciate the productive collaboration with the government of Cabo Verde in this venture and look forward to building upon this platform to extend our investment activities both in Cabo Verde and into other parts of Lusophone Africa. Congratulations to Jacqueline and her team for a great job bringing M&J Tech this far."
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