ECP to Partially Exit Oragroup, Establish AEH with DFIs
Posted On: 12 Nov 2019 | Source(s): Africa Capital Digest, Emerging Capital Partners
Pan-African private equity fund manager Emerging Capital Partners (ECP) has agreed to partially exit its stake in BRVM-listed, pan-African financial services provider Oragroup as part of Côte d’Ivoire-based Caisse Générale de Retraite des Agents de l’Etat (CGRAE)’s acquisition of a 61.45 percent stake in the company. ECP originally acquired Oragroup in 2009 and will retain a 20 percent stake in the company. Financial details of the transaction, which is pending regulatory approval, were not disclosed. Separately, ECP has announced a partnership with development finance institutions (DFIs) Proparco, Finnfund, and IFU to establish and fund African Edu Holdings (AEH), a company dedicated to improving access to quality higher education across Africa.