Connecting Capital
to Opportunity
Across Zambia and
Sub-Saharan Africa

Through our Advisory and Asset Management work, we support sustainable growth and deepen capital markets across the region.

About Us Connect with Us
About Kukula Capital

Built to deliver long-term value in Zambia and the region

Kukula Capital is a Zambia-headquartered investment firm with regional reach, delivering advisory, asset management, and research-led solutions that support sustainable growth and deepen capital markets. We partner closely with founders, management teams, and institutions, combining patient capital with hands-on expertise.

Our Story What We Do
15+
Years operating in Zambia
$37M
In direct investments deployed
15
Direct investment portfolio companies
3
Core service areas
What We Do

Our Services

Kukula Capital operates through three integrated service areas — Advisory, Asset Management, and Research & Consulting — forming a platform that combines deep local knowledge, transaction execution expertise, and disciplined capital stewardship.

Advisory

Transaction advisory, M&A, capital raising, and capital markets solutions for corporates and institutions across Zambia and the region.

Learn more →

Asset Management

Disciplined stewardship of capital through portfolio management, fund administration, and investment monitoring across asset classes.

Learn more →

Research & Consulting

Market research, due diligence support, investment readiness programmes, and project development advisory across Zambia and the region.

Learn more →
The Team

The strength of our platform rests in the character of our people.

Kukula is built on experienced professionals with strong technical expertise and deep regional insight. Our team combines institutional investment standards with practical, on-the-ground knowledge, ensuring disciplined decision-making and responsible stewardship of capital.

Meet the Team
Tue Nyboe Andersen
Managing Partner
Niels Bojsen
Partner
Mphaso Banda
Partner
Darryl Higgins
Partner
Track Record

Select Transactions & Engagements

A cross-section of our advisory, capital markets, and consulting work across Zambia and the region.

Capital Fisheries
2019 · Advisory
Sole Lead Financial Advisor

Exit of core shareholder to institutional investors.

Year2019
ServiceM&A Advisory
RoleSole Lead Financial Advisor

Advised on the exit of the core shareholder of Capital Fisheries to institutional investors, managing the full transaction process from mandate to close.

Dot Com Zambia
2025 · Capital Markets
Transaction Advisor & Sponsoring Broker

IPO and first listing on Zambia's Alternative Market (AltM).

Year2025
ServiceCapital Markets
RoleTransaction Advisor & Sponsoring Broker

Advised on the IPO and inaugural listing of Dot Com Zambia on Zambia's Alternative Market — a landmark capital markets transaction for the country.

Latitude Hotels Group
2025 · Advisory
Sole Lead Financial Advisor

Senior debt raise for hotel expansion in Lusaka.

Year2025
ServiceM&A Advisory
RoleSole Lead Financial Advisor

Sole lead financial advisor on the senior debt raise for Latitude Hotels Group's expansion programme in Lusaka.

British International Investment
2025–Present · Research & Consulting
Programme Lead

Zambia Investment Support Programme — SME investment readiness.

Period2025–Present
ServiceResearch & Consulting
RoleProgramme Lead

Leading the Zambia Investment Support Programme, supporting SMEs across Zambia to achieve investment readiness and access institutional capital.

Bazaruto Renewables
2020–Present · Research & Consulting
Commercial Advisor

Project development for Zambia's first integrated wind and solar energy project — 100MW.

Period2020–Present
ServiceResearch & Consulting
RoleCommercial Advisor

Providing commercial advisory support for Zambia's first integrated wind and solar energy project, targeting 100MW capacity.

Growth Investment Partners Zambia
2025–Present · Research & Consulting
Due Diligence Lead

Commercial, financial and tax due diligence for a private credit fund.

Period2025–Present
ServiceResearch & Consulting
RoleDue Diligence Lead

Led multiple commercial, financial and tax due diligence engagements on behalf of a private credit fund investing in Zambia.

Latest

News & Publications

View all →
Kukula Capital advises on Zambia's first
Transaction
FEB 2026

Kukula Capital advises on Zambia's first technology IPO on the Alternative Market

Kukula acted as Transaction Advisor and Sponsoring Broker on the IPO and inaugural listing of Dot Com Zambia Plc on Zambia's Alternative Market.

Read more →
Kukula Capital advises on REIZ — Zambia'
Transaction
JUL 2025

Kukula Capital advises on REIZ — Zambia's first listed Real Estate Investment Trust

Real Estate Investments Zambia lists on the Lusaka Securities Exchange as Zambia's first ever REIT, opening institutional-grade property investment to everyday Zambians.

Read more →
Kukula Capital serves as knowledge partn
Research
FEB 2026

Kukula Capital serves as knowledge partner on Zambia Impact Investment Market Sizing Study

The 2025 Zambia Impact Investment Market Sizing Study finds the market nearing ZMW 1.9 billion — the most comprehensive assessment of Zambia's impact investment landscape to date.

Read more →
Zambia Investment Support Programme team
Press Release
SEP 2025

Kukula Capital appointed to deliver Zambia Investment Support Programme alongside BII

Kukula Capital is delivering ZISP alongside Impact Capital Africa, powered by British International Investment — helping Zambian SMEs become investor-ready.

Read more →

Connect with Us

Whether you are a business seeking growth capital, an institution looking for a trusted advisory partner, or an investor exploring Zambia's market — we would like to hear from you.

Get in Touch