PE Firm to Fund Second Kenyan Spur Restaurant (Sub-Saharan Africa)

Source: Business Daily  |  Author: John Gachiri

Africa and Middle East-focused SME financier GroFin Capital has agreed to fund the expansion of South African restaurant chain, Spur Group, into Kenya. Johannesburg-listed Spur plans to open its second location in Kenya at the Eka Hotel in the capital of Mombasa. GroFin has agreed to provide between KES40 million and KES45 million (approximately US$500,000) in financing.