TBL Mirror Fund Acquires a Minority Stake in Neo Amadiva (Sub-Saharan Africa)

Source: Business Daily Africa  |  Author: John Gachiri

TBL Mirror Fund, a private equity fund focused on small-and medium-sized enterprises in East Africa and Nigeria, has acquired a minority stake in Kenya-based Neo Amadiva, which operates salon outlets in Nairobi’s Riverside and Hurlingham suburbs. Neo Amadiva intends to use the capital injection to expand the salon chain across East Africa through new branches in urban areas. Financial details of the transaction were not disclosed.