An opportunity to invest in a profitable Private Logistics, commodity trading and investment property holding company in HQ in Mombasa, Kenya but operating all over East and Central Africa.

Below is a term sheet of a sale of a strategic 35% sale of a private limited liability company, which is profitable and highly liquid for a decent price, which does not take into account the option’s it has to develop its land holdings, make extensive use of its sugar importers licence from the Kenya Sugar Board. It would be ideal for a foreign investor who wants to get into the Kenya logistic and/or commodity
importation business or a local investor who would like to integrate it into
their existing business or an investor who wants to make it into a property
play, with great revenue streams – cash flows from existing business
clearing and forwarding and long distance transportation, within the East and Central African region.

Term Sheet Sale of Strategic 35% Shareholding by Karim Amirali Dharamshi in Inland Africa Logistics Limited

This term sheet (the “Term Sheet”) sets out the principal terms and
conditions on which, the new shareholder would be willing to start the
negotiation for purchase of the strategic 35% shareholding held by Karim
Amirali Dharamshi, in Inland Africa Limited (the “Company”), subject to
agreement and signing by all relevant parties of a detailed and legally
binding sale purchase agreement.

The value of the shares amount to Kshs 110 million or USD 1.1 million.
The payment terms to Karim Amirali Dharamshi are as follows

•       On signing of sale purchase agreement refundable 10% of agreed price
•       90% of the agreed price within 30 days of signing of the sale
purchase agreement, within which the due diligence, if required should be completed and the share transfer process be commenced with the Company Registry .

NB: After payment of the down payment, , a due diligence on the company and its wholly owned subsidiary can be carried out by the potential incoming shareholder. These terms are not exhaustive.

The 5% capital gains tax on this transaction will be borne by Karim Amirali

Any other costs like legal fees, professional fees for due diligence, any applicable stamp duty on share transfer will be payable by the incoming shareholder. Financial statements can be availed to potential buyers on signing a non-disclosure agreement. The valuation report is attached below.

Company Information
Inland Africa Limited, is a private limited company incorporated in Kenya
with company registration number C119318 and registered office address at
Plot No. 1066, New Canon Towers, Moi Avenue, P.O. Box 3457-80100, Mombasa,
Kenya. Kenya Revenue Authority PIN P051176602S

Current Shareholders and Shareholding percentage   
Mrs. Zainab Diwan        35%
Mr Roy Mwanthi            30%
Mr Karim Dharamshi     35%
The share capital is Kshs 20 million divided into 200,000 ordinary shares of
Kshs 100 each.

Capital Structure and Financing
Its retained earnings as at 31st December 2020, was as per its audited
financial statements was approximately Kshs 131 million which is
distributable to the shareholders. During the year ended 31st December 2020,
the company made an after tax profit of over Kshs 10 million , and after
payment of a bonus of Kshs 20 million to the directors, who are also its
shareholders, in proportion of their shareholding.

As at 31st December 2020, shareholders’ loans to the company amounted to
over Kshs 68 million out of which approximately Kshs 25 million is due to Mr
Karim Amirali Dharamshi, this will be withdrawn on exit and replaced by the incoming shareholder. The company has no external borrowings. Cash & Cash equivalents amount to around Kshs 85 million.

Description of the Company and group
The principal activity is that of a diversified, clearing and forwarding
company, long distance transport company (through a wholly owned subsidiary
Masai Carriers Limited. Which owns a fleet of vehicles). The company has
also entered into commodity trading (holding a licence to import sugar from
the Kenya Sugar Board) and investment property holding company by owning a
couple of plots on the Mombasa-Nairobi highway, and a vacant plot on
Mombasa-Malindi road in the vicinity of the Somak and/or Pollman’s building,
which can be developed into high end residential apartment for sale.

The company has links throughout the East and central African region, which
is controlled from its head office in Mombasa. It also has an office in
Nairobi and intends to open an office in Naivasha soon.

Timing The proposed closing date is 30th June, 2021, but can be closed
earlier, should a suitable offer be accepted.

Reason for sale: Prospective migration

Enquiries for more information, making an offer should be directed the contacts below. Contacts: Ally Amirali Dharamshi, FCCA, Financial Controller, Inland Africa
Logistics Limited (he will exit the company on completion of the
transaction) Cell 254 0722 827532 Email .
Karim Amirali Dharamshi, Cell 254 0722 797193,


Published by Mohamed Ebrahim, MBA, CeMap, MLIBF, MCSI

Mohamed Ebrahim Mohamed is an author of books related to Islamic Finance, Financial Reporting, Accountancy, and related topics. Mohamed, is currently based in Birmingham, West Midlands, England, United Kingdom and is a Co-founder, CEO and Director of a Start-up Everest Fin Edu Tech Limited. He utilises his training and experience of over 25 years to find funding solutions for individuals, businesses and property buyers, investors and developers especially for the SME'S. Mohamed, is a Senior Partner with Ace Associates LLP - Certified Public Accountants & CEO of Ace Financial Advisory Limited, he is a CPA Kenya and holds an MBA from The University of Manchester (UK) and B.A (Hons) from Manchester Metropolitan University, He has worked for over 25 years with firms in Kenya -Ernst & Young – Assurance Advisory Business Service & Tax Service lines, PKF Kenya Audit Senior, and Devani –Devani & Co. United Arab Emirates -Group Financial Controller - Credo Investments FZE. Canada – Mc Tavish & Co. CPA’s. A member Institute of Directors (Kenya) and Non-Executive Directors Association (UK). He served on the ICPAK Coast Branch, Executive Council as Secretary and CPD Convener (2013-15) and from May 2016 to May 2018. Vice-Chair May 2018 to June 2020. He was commended by ICPAK in June 2015 for his services to the Accounting profession by ICPAK. Furthermore, Mohamed Ebrahim was awarded a Fellowship of the Institute of Certified Public Accountants of Kenya on.11th December 2020. Educational & Professional details. Mohamed speaks English, Gujerati, Hindi, Urdu, Swahili. Born in an Indian immigrant family from Gujerat India, settled on the Swahili Coast of East Africa for four (4) generations, Bachelor of Arts (Hons) – Sustainable Performance Management Manchester Metropolitan University Master of Business Administration The University of Manchester – Manchester Business School Certified Islamic Finance Executive (CIFE) Advanced. Certified Islamic Finance Executive in Islamic Accounting Ethica Institute of Islamic Finance, Dubai, UAE. ACMA, CGMA, Member, Chartered Institute of Management Accountants and Association of International Certified Professional Accountants, registered as a CIMA Member in Practice. CPA, Practicing member Institute of Certified Public Accountants of Kenya FCFIP, Fellow Member -International Institute of Certified Forensic Investigation Professionals FCT, Fellow Member, Fellow Chartered Treasurer FFA – Fellow of the Institute of Financial Accountants MCIArb - Chartered Institute of Arbitrators, Full Member. MCSI: Member, Chartered Institute of Securities & Investments Institute of Internal Auditors - Member Currently, a Doctoral Student at the Edinburgh Business School, completed the Coursework stage, working on the doctoral thesis Interim Award - Post Graduate Certificate in Business Research methods Short Courses and MOOC’s • The World Bank Group's MOOC on Financing for Development. • Financial Markets an online non-credit course authorized by Yale University, facilitator being Professor Robert Shiller – 2013 recipient of Nobel Prize in Economic sciences • Principles of Valuation: Time Value of Money authorized by University of Michigan • Islamic Financial & Capital Markets -101 - & Structure and Trading of Sukuk102 – by Islamic Research and Training Institute • Islamic Finance & Banking 101 & 102 – Islamic Modes of Finance - by Islamic Research and Training Institute • University Teaching MOOC on Coursera by Hong Kong University. • Oxford Brookes University Business School – Online mentoring Course • ICPAK - Training of Trainers PRESENTATIONS AND PUBLICATIONS Professional Conference paper IICFIP 2014 Global Conference “Creating a Business Culture based on ethics” MBA Dissertation Risk Management in Islamic Financial Institutions Publications in Professional Journals The Accountant – Journal of the Institute of Certified Public Accountants of Kenya • Tax Reforms 1 – Time for a Flat Tax system in Kenya – February- March 2012 issue • Tax Reforms 2 – Specific Tax Simplification Reforms – April –May 2012 Issue • Risk Management in Islamic Financial Institutions – December-January 2013 issue Africa Islamic Finance Report (Volume 1 no, 2)- April- June 2016 • A case for Islamic Sharia Compliant Real Estate Investment Trust (Islamic REITS) in Kenya Others Islamic Home Financing

Leave a Reply

Please log in using one of these methods to post your comment: Logo

You are commenting using your account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: