South African real estate investment firm Lango has acquired the Accra Mall, West Hills Mall, and Kumasi City Mall in a significant transaction valued at over US$200 million. This strategic move marks Lango’s expansion into more African markets as part of its retail business strategy.
With this acquisition, Lango’s portfolio now includes high-quality commercial real estate assets in Ghana, Zambia, Nigeria, and Angola. The company’s holdings in Ghana comprise the Achimota Retail Centre, Accra Financial Centre, and the Stanbic and Standard Chartered headquarters.
Lango’s reach extends beyond Ghana, with notable properties such as the Manda Hill Shopping Centre in Zambia and The Wings office complex in Lagos, Nigeria. The addition of the Kumasi City Mall and the Ikeja City Mall in Lagos is expected to solidify Lango’s position as a leading estate development firm in Africa.
Thomas Reilly, CEO of Lango, emphasized the importance of this acquisition, stating, “This transaction is a significant milestone for Lango and aligns perfectly with our growth strategy. With US$875 million of assets under management across four countries, Lango is positioned as a leading Sub-Saharan African firm in the industry. These assets will enable us to leverage synergies and drive growth with resilience across varying market cycles.”
Since its inception in March 2018, Lango has shown substantial growth, emerging as a prominent player in Africa’s commercial real estate sector, with assets exceeding US$600 million.
