AfricInvest Fund IV Invests In Justrite Superstore



AfricInvest  has announced that it has taken a minority stake in Justrite, a family-owned retail department store.

The company in partnership with Justrite will contribute to building affordable grocery outlets that source local products, support domestic Agriculture value chains and create new jobs while improving the availability of safe, high quality foods.

In her words, Abiola Ojo- Osagie, Senior Partner and MD,  AfricInvest Anglophone West Africa, said ” Justrite is a clear market leader with well-defined growth potential and we are very proud to be partnering with such knowledgeable and dynamic sponsors.

” Thr management team has demonstrated a strong willingness to sustainably expand their footprint across Nigeria and beyond. AfricuInvest will support them to enhance their corporate structure and improve operational performance.  We are indeed excited to play a role in Justrite’s growth journey”.

Also, Co-founder and Chairman of Justrite, said ” As Justrite embarks on a new growth phase, Tosin, Baye and I are very excited to partner with AfricInvest to help both our consolidation in the local market as well as our exploration of other markets outside Nigeria.

” We look forward to benefiting from their immense experience across Africa to galvanise our expansion. We welcome our new partners”.

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