Kenyan investment company, TransCentury, has bought a power cable firm in the Democratic Republic of Congo (DRC).[hidepost=9][/hidepost]
The New Vision newspaper reports TransCentury has acquired Cableries du Congo with a view of increasing power cable supplies in the region and meeting demand in neighbouring countries such as Angola and Cameroon.
Gitau Mbugua, chairman of Cableries du Congo, said in a statement that the firm is focused on providing customers in the DRC and surrounding markets with the highest quality products.
He added that the company wants to contribute to the DRC’s economic growth.
According to its website, TransCentury invests in private equity, listed equity, private equity funds and real estate, primarily within the sub-Saharan Africa region.