Emerging Capital Partners (ECP) has confirmed that it has exited its investment in MTN Cote d’Ivoire, as held by Mauritian investment vehicle Planor Capital International (PCI). ECP notes that the investment delivered a cash multiple of x2.6 on exit, returning over USD80 million in capital. ECP’s initial investment was made in 2007, and the group claims that it has facilitated the introduction of other potential partners to MTNCI during its tenure as an investor.
Appolinaire Compaore, chairman of PCI, commented: ‘We are very grateful for the support and guidance ECP has demonstrated throughout our six year journey. Their deep knowledge of the West African telecommunications sector was a key factor in their involvement in MTNCI. We thank ECP for its investment and look forward to taking MTNCI forward’.
The announcement marks ECP’s 28th portfolio company exit, and builds on its track record of successful African mobile telecom exits, including Celtel International, Telecel Faso, Orascom Telecom Algeria (OTA) and Sonatel. ECP continues to hold current investments in Cellcom, a mobile operator in Guinea and Liberia, as well as in Airtel Gabon.