Dubai-based trader Invictus Investment will invest AED 1 bn (USD 272.25 mn) to expand further into North and East Africa through acquisitions and joint ventures with local entities in the region, according to a bourse disclosure (pdf) on the Abu Dhabi Securities Exchange (ADX). The company’s investment will pave the way for expansion into Morocco, Algeria, Kenya, Tanzania, and Mozambique, according to the disclosure. The timeline and breakdown of the investment were not revealed in the disclosure.

The expansion of Invictus’ operations and presence comes as part of its strategy to diversify into logistics and agro-food trading and processing, according to the press release. Invictus is looking to invest in the food processing space in Africa to boost its trading business and expand access to its network of consumers in the region, the release adds.

What they said: The investment “will allow us to expand across the value chain to also include final consumables such as finished products, such as flour mixes, pasta, noodles, poultry and animal feed among others,” Invictus CEO Amir Daoud Abdellatif said. “In each of these markets, we have identified leaders who can help us elevate our offerings while setting us on a growth trajectory,” Abdellatif added.

About Invictus: Founded in 2014 and headquartered in Dubai, Invictus connects producers and consumers and helps them deliver essential food grains, finished goods, and a range of commodities, with operations ranging from origination and processing to trading and procurement. Their product range includes grains, sugar, oilseeds, edible oils, animal feed, pulses, gum arabic, and meats, among others, according to their website. The company also recently entered into a partnership with AD Ports Groups’ Safeen Feeders to launch an international dry bulking shipping service.

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