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Vantage Capital Invests $45 Million in International Group for Modern Coatings (MIDO), a Leading Egypt-Based Specialty Paints and Coatings Manufacturer

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Vantage Capital

By unlocking MIDO’s production capacity, Vantage Capital’s investment will directly support the generation of hard currency inflows into Egypt while creating skilled employment across manufacturing, R&D, sales, and logistics, contributing to job creation and skills development in Alexandria and beyond

CAIRO, Egypt, April 26, 2026/APO Group/ –Vantage Capital (www.VantageCapital.co.za), Africa’s largest mezzanine debt fund manager, has provided $45 million of mezzanine debt funding to the International Group for Modern Coatings (“MIDO”), a leading Egyptian manufacturer of specialty paints and coatings. This transaction marks Vantage Capital’s third investment in Egypt and is among the largest mezzanine debt transactions in the country’s history. The proceeds will be used for debt refinancing and working capital funding, which will enable MIDO to unlock its production capacity.

Founded in 1979 by Dr. Aly Ghaly, MIDO has grown into one of the leading specialty coatings manufacturers in Africa. The company produces a highly diversified portfolio of over 1,200 SKUs spanning automotive refinish paints & coatings, wood coatings, unsaturated & saturated polyester resins, adhesives, and other industrial products, serving customers across Egypt and the rest of Africa. MIDO operates two state-of-the-art, vertically integrated manufacturing facilities in Alexandria, encompassing a total area of 47,100 sqm and a combined production capacity of over 100,000 tonnes per annum. These facilities include dedicated production lines for paints and coatings, proprietary in-house resin production and tin can packaging capabilities.

MIDO generates revenues across more than 50 countries, with Africa as its primary export market, complemented by a presence in the GCC, Europe, Asia, and the United States. The company benefits from deep, long-standing relationships with local and export distribution partners. MIDO has further strengthened its global credentials through private label and co-manufacturing partnerships with world-leading coatings players, including Nippon Paints, Kansai Paints, and Yatu Paints. Underpinning this broad commercial reach is a dynamic in-house R&D and quality control function.

MIDO’s management team will continue to lead the business following the transaction, combining deep institutional knowledge with broad functional expertise. Dr. Aly Ghaly, the company’s founder, having guided MIDO’s development from a small local workshop into a fully integrated, export-oriented industrial platform, continues to serve as Chairman. Ramy Galal, a member of the founding family and a 20-year veteran of the business, continues to serve as Chief Executive Officer.

Vantage Capital’s funding now gives us the firepower to unlock substantial latent capacity in our facilities and accelerate both our local and export growth ambitions

The transaction is expected to drive meaningful economic and social impact across Egypt and the broader African continent. By unlocking MIDO’s production capacity, Vantage Capital’s investment will directly support the generation of hard currency inflows into Egypt while creating skilled employment across manufacturing, R&D, sales, and logistics, contributing to job creation and skills development in Alexandria and beyond. By substituting imported specialty coatings with high-quality, locally manufactured alternatives, the transaction further supports Egypt’s industrial self-sufficiency and strengthens its position as a leading export-oriented manufacturer in the region.

“Over nearly five decades, we have built MIDO into a business that competes on technical complexity, product quality, and the breadth of its offering across a diverse range of markets,” said Ramy Galal, CEO of MIDO. “Our key differentiators are our manufacturing infrastructure, R&D capabilities, distribution relationships, and strong brand equity. Vantage Capital’s funding now gives us the firepower to unlock substantial latent capacity in our facilities and accelerate both our local and export growth ambitions. We are proud to partner with a firm that understood our business, shared our long-term vision, and delivered on very tight execution timelines.”

 

Omar Gharbawi, Associate Partner at Vantage Capital, noted, “MIDO is a case in point of a successful, homegrown pan-African industrial platform. Management has built the company from the ground up into one of Egypt’s top three specialty coatings players, with products now sold in more than 50 countries. Through some of the most challenging macroeconomic and geopolitical headwinds, the business has demonstrated remarkable resilience, underpinned by strong fundamentals and deep industry expertise. We believe MIDO is only beginning to realise its full potential, and we are delighted to back Ramy Galal, Dr. Aly Ghaly, and the wider leadership team as they embark on this next phase of growth.”

 

The transaction represents Vantage Capital’s 41st investment across four generations of mezzanine funds, with its portfolio now spread across 11 countries in Africa. Warren van der Merwe, Managing Partner at Vantage Capital, added, “Egypt is one of the most important markets on the African continent — a nation of over 120 million people with a deep industrial base, a highly educated workforce, and a growing role in African trade. This transaction, which is among the largest mezzanine debt deals ever completed in Egypt, reflects our conviction in the country’s potential and our commitment to backing its strongest entrepreneurs and businesses. MIDO exemplifies precisely the type of company we seek to support: founder-led, technically sophisticated, internationally oriented, and with a clear and executable growth agenda. We are proud to play a role in its continued success.”

Matouk Bassiouny and Werksmans acted as legal counsel to Vantage. Adsero acted as legal counsel to MIDO. PwC Middle East, Emerton, and SLR were also members of Vantage’s consortium of advisors.

Distributed by APO Group on behalf of Vantage Capital Group.

 

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Afreximbank Backs DOTT Services Limited, Uganda with a US$28 Million Facility for Regional Engineering, Procurement and Construction (EPC) Projects

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The financing will enhance DOTT’s capacity to execute strategic projects across the continent, facilitate intra-African trade in goods and services and strengthen regional value chains

CAIRO, Egypt, November 4, 2026/APO Group/ –African Export-Import Bank (Afreximbank) (www.Afreximbank.com) has activated and approved a US$28 million dual-tranche facility for DOTT Services Limited, the leading Uganda-based engineering, procurement and construction (EPC) contractor, and has begun disbursing funds to support the execution of its EPC projects pipeline, valued at more than US$550 million.

 




 
 

Provided under Afreximbank’s EPC Contract Promotion Initiative, the facility is designed to strengthen the capacity of African EPC champions to secure and execute large-scale infrastructure projects across the continent. Specifically, the financing will support DOTT Services Limited in executing contracts and pursuing near-term opportunities valued at approximately US$550 million across Uganda, Tanzania, Kenya and the Democratic Republic of Congo.

Commenting on the transaction, Mr. Humphrey Nwugo, Director of Regional Operations at Afreximbank’s Eastern Africa office, said:

Through the initiative, the Bank provides support, including financing, twinning and matchmaking

“This facility reflects Afreximbank’s commitment to building strong African EPC champions capable of delivering the infrastructure that underpins Africa’s industrialisation, trade and economic integration. By supporting DOTT Services Ltd, a well-established regional contractor with operations across five African countries, we are addressing a critical financing gap that has historically constrained the ability of African firms to participate meaningfully in large-scale, cross-border infrastructure projects.

The financing will enhance DOTT’s capacity to execute strategic projects across the continent, facilitate intra-African trade in goods and services and strengthen regional value chains. It also advances Afreximbank’s EPC Contract Promotion Initiative, which seeks to increase African participation in the development and delivery of Africa’s infrastructure.

Through partnerships such as this, we are ensuring that greater value, expertise, employment opportunities and economic benefits are retained within Africa while fostering the emergence of globally competitive African contractors.”

Mr. Nwugo further noted that most local commercial banks lacked the capacity to support intra-African and regional projects because they were poorly placed to absorb the associated cross-border risks, while international banks tended to prioritise non-African contractors. As a result, African entities were often left without adequate financial support.

He said: “Afreximbank’s EPC Initiative was therefore designed to address this challenge by supporting African EPC contractors in securing and executing a greater share of infrastructure contracts across the continent. Through the initiative, the Bank provides support, including financing, twinning and matchmaking, as well as issuing letters of support, among others”, he explained.

DOTT Services Limited presence in Africa spans 28-years, with operations in Uganda, Tanzania, South Sudan, Zambia, and the Democratic Republic of Congo (DR Congo). It also has European offices in Italy and the UK, and a workforce of over 6,000 people. The company procures from, and distributes to, African countries goods such as bitumen, asphalt, steel and spare parts, as well as yellow goods equipment and services, making it a significant player in intra-African trade. Its track record of promoting trade-supporting infrastructure across the continent makes it a natural partner for Afreximbank’s EPC Contract Promotion Initiative, which seeks to build African EPC champions capable of delivering the infrastructure that underpins intra-African trade.

Distributed by APO Group on behalf of Afreximbank.

 

 




 

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Coca-Cola Beverages Africa (CCBA) invests in Africa’s leadership potential through EDGE

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Developed in partnership with Henley Business School Africa, the programme equips high-potential leaders with the skills, experiences and perspectives needed to drive growth, create value and deliver impact across the business

JOHANNESBURG, South Africa, November 4, 2026/APO Group/ –Thirty-one leaders from across 12 African countries have graduated from Coca-Cola Beverages Africa’s (CCBA) (https://www.CCBAgroup.com) EDGE Senior Leadership Acceleration Programme, marking the completion of the programme’s second generation and the first pan-African EDGE cohort.

 




 
 

Created by CCBA, EDGE is the company’s flagship senior leadership development programme. Building on previous participation from The Coca-Cola Company, the programme was further expanded in 2026 to include leaders from Equatorial Coca-Cola Bottling Company and Coca-Cola Hellenic Bottling Company, creating a broader pan-African learning experience across the Coca-Cola system.

Developed in partnership with Henley Business School Africa, the programme equips high-potential leaders with the skills, experiences and perspectives needed to drive growth, create value and deliver impact across the business.

The 2026 cohort marks an important milestone for EDGE as the programme brought together leaders from across the Coca-Cola system

The graduating cohort represented leaders from multiple countries and business functions. Through classroom learning, business projects, mentoring and coaching, participants gained practical experience in addressing real business opportunities and challenges.

With CCBA serving more than 840,000 customers across Africa, the company requires leaders who can navigate complexity and create value in diverse markets. EDGE helps build these capabilities through practical, business-focused learning.

“People are at the heart of everything we do, and programmes like EDGE demonstrate our commitment to investing in their growth and future success,” said Natasa Prodanovic, Chief People and Culture Officer at CCBA.

“The 2026 cohort marks an important milestone for EDGE as the programme brought together leaders from across the Coca-Cola system. By learning alongside colleagues from The Coca-Cola Company, Equatorial Coca-Cola Bottling Company and Coca-Cola Hellenic Bottling Company, participants were able to build meaningful connections, share diverse perspectives and strengthen collaboration across our markets.”

The curriculum focused on strategy, value creation, transformation, commercial decision-making, leading self and leading teams. Participants also presented business projects aligned to organisational priorities as part of the programme’s graduation requirements.

EDGE forms part of CCBA’s broader commitment to developing future leaders and building the capabilities needed to drive sustainable growth and impact across Africa.

Distributed by APO Group on behalf of Coca-Cola Beverages Africa.

 

 




 

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Africa and Caribbean trade potential could reach $1.65 billion annually by 2030: International Trade Centre (ITC)-Afreximbank report

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The report finds that around 80% of Africa’s annual goods export potential to the Caribbean remains untapped

ST. JOHN’S, Antigua and Barbuda, November 3, 2026/APO Group/ –Annual trade in goods and services between Africa and the Caribbean could reach up to $1.65 billion by 2030, excluding mineral fuels, according to a new report launched today by the International Trade Centre (ITC) and African Export-Import Bank (Afreximbank) (www.Afreximbank.com) on the sidelines of the Commonwealth Heads of Government Meeting in Antigua and Barbuda.

 




  

The report, Reshaping Africa-Caribbean Trade: Opportunities for Economic Transformation, (https://apo-opa.co/4eiz62u) finds that while Africa and the Caribbean share deep historical and cultural links, trade between the two regions continues to represent only a small share of each region’s overall trade, despite complementarities across sectors ranging from agribusiness and manufacturing to services and the creative economy.

A look at the numbers

The report finds that around 80% of Africa’s annual goods export potential to the Caribbean remains untapped, with are significant opportunities for export growth if trade and investment is actively promoted and facilitated.

Africa and the Caribbean must transform a shared history into shared prosperity

Caribbean export potential lies in the services sector, reaching $481 million. The report identifies business opportunities across several priority sectors, including processed food and animal feed, chemicals, minerals and metals, apparel and textiles, leather and footwear, tourism, transport services and creative industries.

These findings – and more – are based on trade and export potential analysis, detailed sector assessments and a survey of 1,175 businesses and business support organizations across Africa and the Caribbean.

Tapping into priority sectors

ITC Executive Director Pamela Coke-Hamilton (https://apo-opa.co/3WHHZMU), in launching the report, said: ‘At a time of major shifts in global trade, countries need to strengthen regional ties and invest in value addition, to build resilience. We know the major trade opportunities between Africa and the Caribbean – and now we can focus on helping businesses take advantage of those opportunities through better market intelligence, improved logistics and greater access to finance.’

Commenting on the report, Denys Denya, Senior Executive Vice President at Afreximbank, said: ‘Africa and the Caribbean must transform a shared history into shared prosperity. With our CARICOM office in Barbados, about $1 billion in approved transactions and a $5 billion regional financing commitment, Afreximbank is advancing this vision through financing, deposit mobilization under CENDEP, business links through the annual Afri-Caribbean Trade and Investment Forum, local-currency payments through CAPSS and creative-industry collaboration through CANEX. This report offers a practical roadmap to turn untapped potential into bankable opportunities across agribusiness, manufacturing, tourism and the creative economy. Through targeted financing, stronger transport and logistics links and strategic partnerships, we can build a Global Africa connected by heritage, trade, investment and shared opportunity.’

The report finds that businesses continue to face significant challenges, including high transport costs, limited direct shipping links, regulatory barriers, limited access to finance and difficulties in identifying trusted commercial partners. It highlights that future economic cooperation should extend beyond traditional trade in goods, including through joint investment ventures, digital services, creative industries and tourism. It also calls for targeted action to improve market intelligence and business matchmaking; expand access to trade finance and payment solutions; strengthen transport and logistics connectivity; support sector-specific value chain development; improve regulatory cooperation and market access; and foster stronger partnerships among business support organizations.

Read the full report HERE (https://apo-opa.co/4exHBH9)

Distributed by APO Group on behalf of Afreximbank.

 




 

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