Bob Geldof, Irish musician, activist takes minority stake in Blue Skies

Eight-Miles (8 Miles), a private equity firm with interest in Agriculture and technology and founded by Bob Geldof, the Irish singer known for his social activism and anti-hunger efforts in Africa, announced on Tuesday it had taken a minority stake in Blue Skies, an ethical fruit juice business with operations in Ghana, Egypt, South Africa and with sights set on expanding to Nigeria.

Blue Skies did not disclose the details of the investment.

However, its Chief Executive and Founder, Anthony Pile, said in a statement that Blue Skies and 8 Miles shared the vision “for improving the lives of people, protecting the environment and making enough money at source to advance our objective to supply best quality products to the people of the world.”

Eight-Miles, spelt “8 Miles” also announced that it acquired a minority stake with a consortium of investors in Nigeria biscuit maker, Beloxxi Industries Limited worth $80m.

The other investors in Beloxxi include Nigeria-based Africa Capital Alliance and DEG, a subsidiary of the German KfW Development Bank.

Beloxxi President and CEO, Mr. Obi Ezeude, said that “With this equity investment, we will expand our current operations from five production lines to about 10 production lines. That will increase our capacity from 40,000 metric tonnes to 100,000 metric tonnes of Beloxxi cream crackers per year.”

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