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Claude Bénitah: Weighing up his options |
AFRICA. Claude Bénitah, the leading shareholder in fast-growing travel retailer Saresco Afrique, has sold his stake to a fellow investor.
Bénitah bought the company along with partners in 2001. It runs a network of nine duty free shops in six countries – Senegal, Togo, Benin, Chad, Congo and the Republic of Central Africa. These cover both airport and diplomatic stores.
The sale, confirmed in recent days, is to a fellow partner, an investment capital fund.
Bénitah may stay involved in the company to help drive its expansion, though he said he is still reviewing his options. He said Saresco Afrique is very profitable after incurring losses through its first three years.
Bénitah has tremendous experience in African duty free, having been involved in the channel for 25 years. He is based in Paris but spends 60% of his time in Africa.
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