In what has been dubbed one of Africa’s largest and most glamorous corporate acquisitions, SCG (Chia Ventures) has officially completed its $5 billion acquisition, offering shareholders a strong exit while elevating the continent’s investment profile. The standout from the transaction? Prateek Suri, the widely known “Richest Indian of Africa,”; has emerged with one of the continent’s most opulent personal portfolios.
The acquisition saw all previous shareholders of SCG successfully exit with substantial valuations, as the company underwent one of the most talked-about corporate takeovers in Africa. However, rather than a traditional monetary payout, Prateek Suri opted for something both visionary and emblematic of his unique investment ethos — a prime private island off the western coast of Africa, slated to become home to one of the world’s largest luxury resorts.
“Currency fluctuations across African markets made cash-based settlements volatile,”; said a source close to the deal. “Hence, high-value assets were exchanged in lieu of cash, offering more tangible and inflation-resistant benefits.”;
Alongside the island, Suri also received multiple luxury mansions in Lagos, strategically located near top-tier golf estates, and a fleet of high-end yachts. The island, while not publicly valued, is said to be one of the most exclusive and expensive parcels of land in the region, with pristine beaches, infrastructure-ready land, and aerial access.
The arrangement marks a significant evolution in African deal-making, showing that alternative asset-based settlements are gaining ground amid regional currency volatilities. For SCG, the acquisition consolidates its footprint across African markets, boosting its operational control and opening doors to further international partnerships.
Notably, the transaction isn’t entirely complete yet. Remaining funds from the deal are currently held in an escrow account, tied to a final phase of terms and conditions. Under the agreement, asset liquidation or resale cannot occur until all contractual obligations are fulfilled.
“This was a win-win situation,”; said an executive familiar with the transaction. “SCG gains full operational control, while Mr. Suri diversifies into tangible assets that enhance his brand and influence across Africa.”;
Prateek Suri, already a dominant figure in Africa’s tech, luxury, and investment scenes, is expected to unveil plans for the mega-resort within the coming months.
Early reports suggest it will blend sustainability with luxury, aimed at attracting ultra-high-net-worth individuals and putting Africa on the global resort destination map.
With this strategic play, Prateek Suri once again demonstrates how visionary entrepreneurship can marry glamour with economic foresight, redefining what success looks like in the African investment landscape.
