AIS currently operates in eight countries in West Africa including Benin, Togo, Guinea, Senegal, Burkina Faso and recently launched branches in Liberia and Sierra Leone.
Abraaj said that the company will use its investment to expand its service offering to new and existing customers and upgrade its inventory management system in West Africa as well as for further geographical expansion.
Abraaj managing director Kodjo Aziagbe said, “We are very optimistic about our first investment in Cote d’Ivoire. We believe the industrial services sector is, in particular, witnessing rising domestic and regional demand for more affordable, locally produced components, and therefore exhibits solid potential to drive long-term growth through product innovation, improved penetration and channel expansion.
“In addition to being linked to some of West Africa’s fastest-growing sectors, such as agro-processing, infrastructure, mining and telecoms, AIS’s unique sales model, impressive portfolio and strong regional presence demonstrate an ability to scale the business further into multiple West African markets.”
Abraaj’s other recent deals included the full exit from its stake in Philippines-based tertiary medical hospital Daniel O Mercado Medical Center.
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