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Quickmart terminated founder-linked consultancy contracts in July after paying hundreds of millions of shillings, disclosures show, as its Nairobi IPO runs to Oct. 30
The Kinuthia family, which built Quickmart from a Nakuru supermarket, stands to collect $37 million as its owners sell half the chain in an IPO.
Sokoni is selling 2 billion Quickmart shares, and the proceeds go to Adenia Partners, the chain's founders and CEO Peter Kang'iri.
Adenia Partners buys controlling stake in Egypt’s Parkville, expanding into health, personal care, and Middle East-Africa markets.
Adenia Partners will receive up to $30 million from IFC to back growth-stage African businesses across key sectors.
This marks the firm’s eight location across the continent and underscores its commitment to responsible investing and sustainable development in Africa.
Adenia Partners is an African-focused private equity firm.