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Press release

Actis appoints new heads of office in Nigeria and Egypt

12 October 2004
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Actis, a leading private equity investor in emerging markets, announced today that it has appointed Hywel Rees-Jones to head up its office in Nigeria, which oversees Actis’s activities in West Africa. Hywel, previously head of Egypt, will be replaced by Andrew Brown who will take over as head of Egypt. The new appointments signify Actis’s commitment to an ongoing programme of investment in Africa, where it currently has over US$1 billion of funds under management.

Both Hywel and Andrew have a wealth of experience in Africa. Hywel was responsible for setting up Actis’s office in Egypt in 2001 and led Actis’s first investment in Egypt, a US$20m management buyout of El-Rashidi El-Mizan from Unilever – the first management buyout in the country. More recently, Andrew led Actis’s first transaction in Algeria, a US$27m investment to complete the permanent capital structure of Orascom Telecom Algeria (OTA). This was the largest single private sector investment in Algeria outside of the oil & gas sectors.

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