Private equity firm the Abraaj Group has acquired a majority stake in Ghana Home Loans for an undisclosed amount.
Accra, Ghana-based Ghana Home Loans provides residential mortgages in Ghana. The company provides mortgages, buy-to-let, equity release, refinancing and home completion products.
Abraaj’s investment is expected to increase the size of Ghana Home Loans and increase the company’s product offerings.
The London-based private equity firm is the largest in the Middle East, and focuses on investments in emerging markets. In October, the firm invested in African Industries Services Group, a Cote d’Ivoire-based company that makes components for engineering companies. In September, the firm invested in Steripharma, a Casablanca, Morocco-based pharmaceutical company. Before that, in August, Abraaj invested in BLG Capital, a Turkish real estate company, and in June, bought Fan Milk International, which makes and distributes frozen dairy products and juices in Ghana, Nigeria, Togo, the Ivory Coast, Benin and Burkina Faso.
For more on Abraaj’s investments, see “10 Emerging Markets to Watch.”
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