Published: September 30, 2013
Private-equity firm invests in cargo business.
Jacana, a private-equity group focused on small and medium-sized African businesses, has partnered with the Soros Economic Development Fund (SEDF) to invest in DSM Corridor Group (DCG), a bulk cargo-handling business. This is the first time that either investor has entered the Tanzanian market.
DCG is the largest dry bulk cargo-handling company at the port of Dar es Salaam and its terminal is the only purpose-built one in sub-Saharan Africa. The investment will go towards expanding the volume and range of commodities that the terminal can handle. It is also expected to create 150 new jobs.