XSML Finance Real Estate Firm in DRC’s Katanga Province
Real estate development has become a very popular investor target across the continent, and Dutch SME fund manager XSML are getting in on the game, announcing an investment in Manoah Investments SARL in Lubumbashi, DRC’s Katanga Province. XSML’s funding will be used specifically to develop plots for residential construction by providing basic infrastructure like water, electricity and sewage. Then these plots will be offered for sale and buyers can build their own houses.
Manoah Investments itself has a portfolio of activities: the company also owns a bakery and a meat processing firm – a pragmatic approach to picking up opportunities wherever they present themselves. Branching out in to the real estate sector was driven by efforts to provide staff housing.
XSML have had their eyes on Katanga Province recently: The fund manager also invested in Hydrotek SARL, a company providing pipes, pumps and installation services, and in Alpha Transport. Alpha, headquartered in Likasi in Katanga Province, offer long-distance transport services as well as equipment leasing for mining and construction firms. Apart from the regional concentration, there is clearly also some focus in the wider construction and engineering space. Demand for low-cost housing is generally substantial and Katanga Province’s growth benefits from the expansion in the mining industry. Source: Africa Assets