April 2017: ECP portfolio companies Java House, a leading East African coffee house and dining chain, and Oragroup, a Pan-African bank, made the list of Africa’s most inspirational and dynamic private, high-growth companies as part of an inaugural “Companies to Inspire Africa” initiative launched by the London Stock Exchange Group on 31 March.
The initiative’s report demonstrates the enormous potential of businesses to grow, to create high-quality jobs, and to act as drivers of sustainable economic growth on the continent. The report noted that both Java House and Oragroup contribute to the economic growth of their respective regions and are keen to support African entrepreneurship and economic development.
Java House is pursuing a Pan-African presence with 150 stores across East Africa and anticipates an increase in its employee base by 30-40% per year. Alongside its growth, Java House maintains its commitment to its local supply chains and to being “more than just a coffee house” for its customers.
Oragroup, introduced as “one of Africa’s financial services success stories,” is focused on being a pioneer of an emerging financial “Afro-Capitalism” that drives authentic, durable regional growth through its financing support of small and medium enterprises. Since ECP’s investment, the bank has expanded its presence from 5 to 12 countries across West and Central Africa, an expansion largely facilitated by its 2013 acquisition of Banque Régionale de Solidarité (BRS). Oragroup is not finished expanding but the group now plans to consolidate its growth and deploy a strong, value-based corporate strategy that facilitates its positions as a role model in Pan-African banking.
ECP’s Andrew Brown and Java House’s Ken Kuguru were present at the launch event, which took place at the London Stock Exchange. The two spoke about African businesses that have successfully scaled their operations and discussed the supportive role of private equity on the continent.
To access and download the full report for free, please see “Companies to Inspire Africa.”