Nairobi-based Fanisi Capital have acquired a ‘significant minority stake’ in outdoor advertising firm Live Ad Limited for an undisclosed amount. The investment was made through Fanisi’s first USD50m Fanisi Venture Capital Fund.
Live Ad currently manages over 200 billboards in Nairobi and other major towns, and intends to use the funding to expand their presence across Kenya as well as ad new products and services. For Fanisi, this is the first investment in advertising after deals in agribusiness, education and pharmacy businesses. Source: Africa Assets