XSML-owned African Rivers Fund (ARF) invested an undisclosed amount in Moni-shop, a supermarket in Kinshasa, Democratic Republic of Congo.

XSML justified the investment with the long-term potential it sees in the country. According to Marcel Posthuma, Managing Partner at XSML, Kinshasa’s demographic growth in the next decades “will drive retail demand in the medium to long term. With excellent locations and management, Moni-shop is very well positioned to capture part of this growth.”

This potential growth is already supporting the supermarket’s expansion plan, following the investment. Moni-shop, which was founded in 2011 and currently has its main operation in the Kintambo commune, is expected to build a new large supermarket in the centre of Kinshasa with the new investment. This was confirmed by Toussaint Ndombasi, Managing Director of Moni-shop, who said that “The African Rivers Fund has provided us with the necessary funding to start a large scale construction project for a new supermarket in a prime area of Kinshasa. We are excited to embark on this project, which will help Monishop in the next stage of its growth.”

The investment comes weeks after XSML announced another investment in DRC’s retail. Last month, through African Rivers Fund, it had also invested in retailer Maison Galaxy, with plans of expansion.