DUBAI: Invictus Investment Company Plc on Tuesday announced plans to expand into North and East Africa through acquisitions and joint ventures with leading local entities in the region.
Headquartered in the UAE, Invictus is a prominent trader with growing business in the African markets. The planned inorganic expansion will see it significantly increase its presence with focus on various markets, potentially including Morocco, Algeria, Kenya, Tanzania and Mozambique among others.
Invictus’ decision to expand its operation and presence is not only in line with its overarching strategy to leverage on its core competency in agro-food and grains trading but also to diversify into logistics and food processing.
In October 2022, Invictus entered into a strategic partnership with AD Ports Groups’ Safeen Feeders to launch an international dry bulk shipping service with an initial investment commitment of approximately USD 126 million by both parties.
In 2023, Invictus is focusing on building its presence by investing into food processing space in Africa to further strengthen its trading business and build access to consumers in the region.
Amir Daoud Abdellatif, CEO, said: “Our planned partnerships and acquisitions will allow us to expand across the value chain to also include final consumables such as finished products, such as flour mixes, pasta, noodles, poultry and animal feed among others.
In an increased globalised world, there is an immense need to continue to connect, and deliver food to ensure safety and security of a nation and its people. Central to our ambition is to ensure we diversify across products and markets. In each of these markets, we have identified leaders who can help us elevate our offerings while setting us on a growth trajectory. Our investment interests further reiterate our commitment to Africa and the rest of the world.”
Invictus recently reported completing over one million metric tonnes of agro-commodity exports to Egypt during 2023.
