Actis backs African retailer

Actis backs African retailer

Published: November 5, 2014

Private equity firm takes US$65mn stake in shoe shop chain Tekkie Town.

Private equity firm Actis has taken a US$65mn, minority stake in Tekkie Town, a shoe retailer in South Africa.

Braam van Huyssteen, who founded Tekkie Town in 2001, remains majority shareholder and chairman. David Cooke, a director at Actis, will join the board.

Tekkie Town has more than 260 stores across the country. In a statement announcing the deal, Andreas von Paleske, head of consumer at Actis, said the firm will work with van Huyssteen to take the company into other countries.