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Nedbank CIB and Alterra boost East African tourism
Discover how Nedbank CIB and Alterra Capital Partners drive economic growth in East African tourism through strategic funding
The Alterra Africa Accelerator Fund, managed by Alterra Capital Partners, recently announced the acquisition of ARP Africa Travel Group, partnering with the founding family to accelerate expansion across East Africa and beyond.
ARP Africa includes Pollman's Tours & Safaris Limited (Kenya), Ranger Safaris Limited (Tanzania), and ARP Africa Travel Limited (United Kingdom) and is a leading provider of destination management services in East Africa with a strong market position, high-performing management team and exceptional growth prospects.
Established in Tanzania in 1978, ARP Africa has built a reputation for exceptional service delivery and deep local expertise across key tourism markets. The company works with global travel agent partners in 50 countries across 5 continents, arranging travel experiences for global visitors to East Africa.
ARP Africa well positioned as East African tourism continues recovery
Tourism plays a crucial role in East Africa's economy, significantly contributing to both GDP and employment. The sector accounted for approximately 10% of East African GDP in 2024 and directly employs over 5 million people in Kenya, Tanzania, Rwanda and Uganda. Following the Covid-19 pandemic, the region has recovered strongly, with tourism receipts in 2024 of around $9 billion, marking an 18% increase from 2023 and surpassing pre-pandemic figures. This resurgence highlights the region's appeal as a tourist destination and the sector's resilience.
ARP Africa is well positioned to capitalise on rising demand for high-quality, experience-driven travel. 'The transaction showcased Nedbank CIB's partnership approach with a key private equity sponsor in Alterra to deliver a bespoke solution on the African continent,' says Brad Webber, Head of Investment Banking Origination at Nedbank Corporate and Investment Banking (CIB).
Nedbank's role and expansion across the continent
Nedbank CIB is proud to announce the leading role it has played as Equity Co-investor, Acquisition Debt Funder, Underwriter and Mandated Lead Arranger in the transaction. 'The transaction is a first of its kind for our franchise and aligns with our strategy to partner with leading capital allocators at both a debt and equity level,' says Gareth McElhone, Head of Alternative Equity at Nedbank CIB.
'This transaction also complements Nedbank's strategy to drive growth alongside our key clients and generate long-term value on the African continent,' says Justin Urry, Principal of Leveraged and Diversified Finance at Nedbank CIB.