Actis invests $65m in Tekkie Town

Johannesburg - Private equity firm Actis said on Wednesday it would take a significant minority stake in South African sports shoe retailer Tekkie Town for $65m.

The British-based company with a focus on emerging markets has invested $1.6bn 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.