Martin Kromat, a seasoned commercial FMCG sector expert, has joined African private equity firm Phatisa as a portfolio management Partner. He’ll be working alongside Nieks Bezuidenhout, who joined Phatisa late last year to head up the fund’s mechanized inputs platform, to help the 9 portfolio companies in Phatisa’s fund food, AAF, build value.
Now 80% invested, the companies have been in the 10-year fund’s portfolio for an average of 3 years, which offers Phatisa significant opportunity to add value to the firms. The fund enjoys a strong pipeline of new and follow-on agri- and food-focused investments to support its companies, which are in more than 15 African countries.
Kromat joins Phatisa from Diageo where he was the Supply Chain Director for the FMCG giant’s South African business and was the Finance Director for Brandhouse Beverages, Diageo’s joint venture with Heineken and Namibia Breweries. Prior to Diageo, he worked for another blue-chip consumer company, Procter & Gamble, where in a 13-year career he worked in several commercially focused and functional finance roles in Europe and Africa, including being the finance director for P&G’s eastern and southern African businesses.
“I am excited about joining the Phatisa team, with its sector-specific set of skills and experiences,” Kromat was quoted as saying in the statement announcing his appointment. “I am looking forward to adding value to the existing portfolio companies and future investments by putting to use what I have learned over the years working in both developed and developing markets. And I am particularly thrilled about the opportunity to make a real difference in Africa.”
Taking up his position on February 1st, Kromat will report to Peter van As, Phatisa Senior Partner and Portfolio Director, and be based in Johannesburg.