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27-Oct-2009
ECP won the Venture Capital Deal of the Year award due to their involvement in Shoresal and Almes. ECP acquired a $13.8 million stake in Shoresal, a real estate development company in Algeria. Shoresal will use part of the invested capital to finance the development of a fourteen story Class A office tower in the Bab Ezzouar business district of Algiers. ECP invested $12.4 million in Almes, a holding company of Entrepise Moarcoaine de Travaux (EMT) and Somadiaz. EMT is a construction company specializing in public works infrastructure projects such as airports, dams and levees. Somdiaz is an equipment leasing company that provides specialized equipment to commercial and industrial clients. EMT and Somadiaz will use ECP's investment to extend the scope of their business offerings in Morocco as well as geographically expand into neighboring countries such as Libya and Muaritania where there is great demand for public works and other construction services.
ECP's investments in Shoresal and Almes were evaluated on several criterion including stable and sustainable growth and performance, plans for future development, provision of finance for those traditionally excluded from the formal sector, advice and expertise passed onto small scale business to promote development, facilities and services for small business and access to finance in rural areas. ECP's Shoresal and Almes deals were found to be excellent in all the following categories:
• Innovation in the deal structure to optimize effectiveness (in both in terms of profitability and corporate social responsibility)
• Consideration of all stakeholders in implementation of deal
• Keen appreciation of risks, appropriate mitigation measures and potential rewards
• A reputation for integrity and working effectively
• A deal that pushes the boundaries in terms of location, size and industry and has effectively overcome normal barriers
ECP is honoured to be awarded such a prestigious event by Africa investor. We believe greatly in the economic potential of the continent and feel our performance shows Africa holds strong business growth potential and a competitive investment environment. As an organization we are committed to global best practice in our field and building shareholder value and the communities within we work. We invest significantly in our staff and we are delighted their hard work and commitments have enabled us to be recognised as the best in Africa for what we do.
Africa investor hosts the Africa investor Investment and Business Awards to reward exceptional business practices, economic achievements and investments across the investment spectrum in Africa. At a time when the global economy continues to face formidable challenges amid vigorous market changes, the Africa investor Investment and Business Leaders Awards honors the people who have provided dynamic leadership and a profitable long-term vision for the companies they led. The Awards are designed to shed light on Africa's many investment success stories and recognizes those Business Leaders that have the knowledge and strength to grow their investment portfolios and who are making a difference through leadership and innovation in their industry sectors.