The third syndication, Peponi, has a term of 10 years from April 2007 and seeks to return a minimum of 20% per annum from investment in the seriously underserved private cemetery sector. Demand for dignified memorial sites close to the key urban centres is being driven by a change in socio-economic dynamics and the inability of local authorities to provide the essential service.
Peponi is leveraging off the trend towards estate pre-planning, the growth in innovative pre-need insurance products and partnerships with sector service providers to build scale necessary to meet the critical social needs in the private cemetery sector.
Total Equity Investment: Kshs 200 million (incl. committed capital)
Date of first close: March 2011
