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Kingdom Zephyr Africa Management Company (“Kingdom Zephyr” or “the firm”),
the pan-African private equity firm, has announced the opening of its new office in
Lagos, Nigeria.
The expansion of Kingdom Zephyr’s activities into Nigeria, Sub-Saharan Africa’s
most populous country and second largest economy, is seen as an important
strategic move for the firm. According to the IMF, Nigeria will be amongst the
world’s top 10 fastest growing economies between 2011-2015, exhibiting a
compound growth rate of around 7%.
The opening of Kingdom Zephyr’s Lagos office extends the firm’s local African
reach and enhances Kingdom Zephyr’s ability to source deals in West and
Central Africa. The Nigerian economy is set to benefit from the transformation of
the banking and financial services, oil and gas and power sectors, all target
industries for Kingdom Zephyr. Nigeria has always been a key geography for the
firm, having invested in United Bank for Africa plc and Ecobank Transnational
Incorporated through its Pan-African Investment Partners (“PAIP”) I Fund.
Kingdom Zephyr Partner Seyi Owodunni will head the Lagos office. Prior to
joining Kingdom Zephyr, Seyi was the Chief Financial Officer of Starcomms Plc,
a Nigerian telecommunications operator and triple-play provider.
Commenting on Kingdom Zephyr’s investment strategy in Nigeria, Seyi said:
“Lagos is a vital location for Kingdom Zephyr’s investment activities within West
Africa as we actively look to partner with established, local businesses that have
the capabilities to grow and expand across the African continent.”
“Nigeria’s economic growth has recovered from the temporary dip in 2009 on the
back of higher oil prices as well as industry and government reforms, creating
significant investment opportunities in companies positioned to benefit from these
transformations. Growth will be further aided by key demographic trends such as
an expanding workforce, increasing urbanization and the rapid growth of Nigeria’s
middle class; all developments that are consistent with our middle class
consumer-focused investment strategy.”
Kofi Bucknor, Kingdom Zephyr’s Managing Partner, added:
“Although Nigeria is still dependent on its oil sector, the government is beginning
to take the necessary steps towards economic diversification and market
liberalisation while, at the same time, corporate governance is steadily improving.
This is making Nigeria an increasingly attractive proposition for private equity
investors and we believe it is essential for Kingdom Zephyr to have a local
presence to facilitate greater deal flow and execution.”
-Sue Scott, Corporate Communications
About Kingdom Zephyr Africa Management
Kingdom Zephyr is a leading pan-African private equity firm that partners with
established African companies, providing them with the growth capital and
strategic assistance required to achieve scale across the Continent. Kingdom
Zephyr focuses on investments that meet the needs of the rapidly growing African
middle class. Kingdom Zephyr currently has USD 615 million under management
via its Pan-African Investment Partners (“PAIP”) funds.
Kingdom Zephyr is a joint venture between Zephyr Management, L.P. (“Zephyr”)
and Kingdom Holding Company (“Kingdom”). Headquartered in New York, Zephyr
is a global leader in emerging markets private equity, having invested in Africa
since the mid-1990s. Kingdom is the investment holding vehicle controlled by
HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud of Saudi Arabia, a leading
philanthropist and investor in Africa since 1996.
Current PAIP Funds investments include Letshego Holdings Limited, a Botswana-
based consumer lender, and Consolidated Infrastructure Group Limited, a South
Africa-based power infrastructure company.
The Kingdom Zephyr team now operates out of offices in Accra, Johannesburg,
Lagos, London and New York.
Kingdom Zephyr Lagos:
Address: 5, Yesuf Abiodun Way, Victoria Island Extension, Lagos, Nigeria
Phone: + 234-1-855-7777
the pan-African private equity firm, has announced the opening of its new office in
Lagos, Nigeria.
The expansion of Kingdom Zephyr’s activities into Nigeria, Sub-Saharan Africa’s
most populous country and second largest economy, is seen as an important
strategic move for the firm. According to the IMF, Nigeria will be amongst the
world’s top 10 fastest growing economies between 2011-2015, exhibiting a
compound growth rate of around 7%.
The opening of Kingdom Zephyr’s Lagos office extends the firm’s local African
reach and enhances Kingdom Zephyr’s ability to source deals in West and
Central Africa. The Nigerian economy is set to benefit from the transformation of
the banking and financial services, oil and gas and power sectors, all target
industries for Kingdom Zephyr. Nigeria has always been a key geography for the
firm, having invested in United Bank for Africa plc and Ecobank Transnational
Incorporated through its Pan-African Investment Partners (“PAIP”) I Fund.
Kingdom Zephyr Partner Seyi Owodunni will head the Lagos office. Prior to
joining Kingdom Zephyr, Seyi was the Chief Financial Officer of Starcomms Plc,
a Nigerian telecommunications operator and triple-play provider.
Commenting on Kingdom Zephyr’s investment strategy in Nigeria, Seyi said:
“Lagos is a vital location for Kingdom Zephyr’s investment activities within West
Africa as we actively look to partner with established, local businesses that have
the capabilities to grow and expand across the African continent.”
“Nigeria’s economic growth has recovered from the temporary dip in 2009 on the
back of higher oil prices as well as industry and government reforms, creating
significant investment opportunities in companies positioned to benefit from these
transformations. Growth will be further aided by key demographic trends such as
an expanding workforce, increasing urbanization and the rapid growth of Nigeria’s
middle class; all developments that are consistent with our middle class
consumer-focused investment strategy.”
Kofi Bucknor, Kingdom Zephyr’s Managing Partner, added:
“Although Nigeria is still dependent on its oil sector, the government is beginning
to take the necessary steps towards economic diversification and market
liberalisation while, at the same time, corporate governance is steadily improving.
This is making Nigeria an increasingly attractive proposition for private equity
investors and we believe it is essential for Kingdom Zephyr to have a local
presence to facilitate greater deal flow and execution.”
-Sue Scott, Corporate Communications
About Kingdom Zephyr Africa Management
Kingdom Zephyr is a leading pan-African private equity firm that partners with
established African companies, providing them with the growth capital and
strategic assistance required to achieve scale across the Continent. Kingdom
Zephyr focuses on investments that meet the needs of the rapidly growing African
middle class. Kingdom Zephyr currently has USD 615 million under management
via its Pan-African Investment Partners (“PAIP”) funds.
Kingdom Zephyr is a joint venture between Zephyr Management, L.P. (“Zephyr”)
and Kingdom Holding Company (“Kingdom”). Headquartered in New York, Zephyr
is a global leader in emerging markets private equity, having invested in Africa
since the mid-1990s. Kingdom is the investment holding vehicle controlled by
HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud of Saudi Arabia, a leading
philanthropist and investor in Africa since 1996.
Current PAIP Funds investments include Letshego Holdings Limited, a Botswana-
based consumer lender, and Consolidated Infrastructure Group Limited, a South
Africa-based power infrastructure company.
The Kingdom Zephyr team now operates out of offices in Accra, Johannesburg,
Lagos, London and New York.
Kingdom Zephyr Lagos:
Address: 5, Yesuf Abiodun Way, Victoria Island Extension, Lagos, Nigeria
Phone: + 234-1-855-7777
African Examiner | May 05, 2011
Kingdom Zephyr opens new Lagos office
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