DSM Corridor Group

Apr 5, 2018

Follow @ ShereeHanna Jacana Partners , the pan-African SME private equity firm and  Soros Economic Development Fund  (SEDF), a non-profit private foundation, have invested... Cancel      - Leadership - Oct 01, 2013 Jacana Partners , the pan-African SME private equity firm and  Soros Economic Development Fund  (SEDF), a non-profit private foundation, have invested in  DSM Corridor Group  (DCG), a bulk cargo handling business in Dar es Salaam. The transaction marks both Jacana and SEDF’s first investments in Tanzaniaand will finance the expansion of DCG’s storage capacity with respect to both volumes and the range of commodities. A new cargo handling site will contribute to the development of the regional trade corridor and will have a significant social impact, helping to create up to 150 new jobs. It will also increase port efficiency, thereby supporting growth of key sectors of the economy such as agribusiness, mining and construction. DCG is the leading dry bulk cargo handling company at the port of Dar es Salaam. Founded in 2004, its services include ship to shore discharge of cargo, container stuffing and de-stuffing and logistical services for the forwarding of materials. The DCG terminal is the only purpose-built dry bulk cargo handling terminal in Sub-Saharan Africa and offers a secure, reliable and cost effective means of handling commodities for companies operating in East Africa. Erik Kok, Chief Executive Officer of DCG said: “We look forward not only to the access to capital to continue to grow our business, but also the deep experience that the Jacana and SEDF teams bring to the table. “Their value-add contribution was an important consideration for us in deciding to partner with Jacana and SEDF. “The transaction marks an important milestone in DCG’s history as we continue on our journey towards becoming one of the leading dry bulk cargo handling companies in East Africa. This investment will allow us to accelerate our growth, releasing constraints on our business.”  Ezra Musoke, Partner at Jacana said: “DCG’s management team are highly experienced with deep contact networks and a strong track record of success in the industry. We are delighted to be partnering with them to provide capital and expertise to help the business grow to the next level.”  Cedric de Beer from SEDF said: “DCG is facing a number of new opportunities thanks to the rising regional importance of the port of Dar es Salaam, which not only serves Tanzania but is a gateway for exports and imports for several landlocked African countries.” Tags: