Table of Contents
Key Points
- CA&S Group acquires a 35% stake in Tradco, with an option to increase to 55%, reinforcing its expansion into East Africa’s fast-growing consumer sector.
- Tradco founder David Maina Kamiru retains a stake and leadership role, ensuring strategic continuity as CA&S integrates its expertise in supply chain and brand growth.
- CA&S reports a 19.7% rise in headline earnings and a 9.2% revenue increase, driven by acquisitions, regional expansion, and strong supply chain operations.
CA&S Group, a dual-listed FMCG services company headquartered in Gauteng and led by Botswana executive Duncan Lewis, has expanded its footprint in East Africa through a 35 percent acquisition of Tradco Group. The move aligns with CA&S’s broader strategy of strengthening its foothold in high-growth African markets and marks a significant step in its regional expansion efforts.
A strategic partnership for growth
The deal, disclosed in a regulatory filing on Feb. 17, 2025, underscores CA&S’s ongoing strategy of acquiring companies with deep in-market expertise, such as Tradco Group, bolstering its presence in Africa’s dynamic consumer market.
Founded in 2013, Tradco Group specializes in in-store execution, merchandising, brand strategy implementation, and logistics solutions. Its market knowledge will strengthen CA&S's foundation in East Africa’s rapidly growing consumer sector. The agreement includes an option for CA&S to increase its stake by an additional 20 percent, highlighting its long-term commitment to regional market integration.
Tradco founder David Maina Kamiru will retain a stake and remain in an executive role to ensure continuity in both strategy and operations. “This partnership enhances our scalability and innovation. CA&S’s extensive distribution network and data-driven approach will amplify our regional impact,” Kamiru said.
CA&S's long-term vision for East Africa
Duncan Lewis, CEO of CA&S Group, emphasized the importance of East Africa to the company’s expansion strategy. “Economic growth and infrastructure investment in the region present immense opportunities. By partnering with Tradco, we can enhance our service offering, optimize supply chains, and drive brand growth at scale,” he noted.
The acquisition follows CA&S’s April 1, 2024, purchase of a 49 percent stake in Roots Sales & Merchandising for R70 million($3.8 million). Roots, which services over 8,000 retail outlets in South Africa, complements CA&S’s strategy of acquiring businesses with strong in-market capabilities.
Financial growth & regional expansion
CA&S delivered robust financial performance in the half-year of its 2024 fiscal year, with headline earnings growing by 19.7 percent to R206.83 million($11.24 million), revenue increasing by 9.2 percent to R5.73 billion, and assets expanding by 10.5 percent to R5.03 billion($311.32 million). The acquisition of Tradco is expected to further strengthen CA&S’s presence in East Africa, enabling deeper brand penetration, enhanced distribution networks, and a more data-driven approach to consumer engagement.
Since its listing on the Botswana Stock Exchange in 2017 and subsequent JSE dual-listing in 2022, CA&S has pursued a strategy of targeted acquisitions, reinforcing its position as a key player in Africa’s FMCG sector. By integrating Tradco’s local expertise, CA&S aims to optimize supply chains and expand service offerings, further solidifying its competitive edge in the region.
