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Actis invests $65 mln in S.African shoe retailer Tekkie Town-Reuters

(Reuters) – Private equity firm Actis said on Wednesday it would take a significant minority stake in South African sports shoe retailer Tekkie Town for $65 million.

The British-based company with a focus on emerging markets has invested $1.6 billion in Africa in businesses ranging from an energy utility in Cameroon, a credit bureau offering services in countries such as Ethiopia and fabric design company Vlisco.

Tekkie Town has grown into a 265-store chain across South Africa since it was founded in 2001. Founder Braam van Huyssteen will remain in the company’s management, Actis said in a statement.