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Africa Capital Alliance Invests USD20m in Nigerian Fintech Operator Accelerex

Africa Capital Alliance, via its Capital Alliance Private Equity IV (CAPE IV) fund, has agreed to invest USD20m in Accelerex, the parent company of Nigerian electronic payment and fintech solutions

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Lion’s Head Provides USD4m in Financing to Africa-Focused Solar Solutions Provider Bboxx

Lion’s Head Global Partners, through its Facility for Energy Inclusion Off-Grid Energy Access Fund, has agreed to provide USD4m in debt financing to Africa-focused solar solutions provider Bboxx to support

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Ribbit Capital Leads USD30m Series B for African Cross-Border Fintech Startup Chipper Cash

Ribbit Capital led a USD30m Series B for Chipper Cash, a mobile-based P2P payment services platform with operations in Ghana, Uganda, Nigeria, Tanzania, Rwanda, South Africa, and Kenya. Bezos Expeditions,

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OMAI Invests in South African Education Company Sifiso Learning Group

Old Mutual Alternative Investments, through its Education Investment Impact Fund of South Africa, has made an undisclosed investment in South Africa-based private education company Sifiso Learning Group. Read more

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TLcom and 4DX Lead USD3.4m Pre-Seed Round for Nigerian Automotive Startup Autochek

TLcom Capital and 4DX ventures led a USD3.4m pre-seed round for Nigeria-based car sales and services platform Autochek, with participation from Golden Palm Investments, Lateral Capital, MSA Capital, and Kepple

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CDC, DPI, and EBRD Acquire Adwia Pharmaceuticals and Seed USD750m Pan-African Biopharma Platform

CDC Group, Development Partners International, and the European Bank for Reconstruction and Development have jointly committed USD250m to fund the acquisition and combination of Egypt-based drugmaker Adwia Pharmaceuticals and India-based

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ARCH EM Partners to Invest USD40m in Secondary Deal for CrossBoundary Energy

ARCH Emerging Markets Partners’ Africa Renewable Power Fund has agreed to invest USD40m in CrossBoundary Energy, a pan-African investment fund focused on commercial and industrial solar services, in a secondary

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AIIM and STOA Lead USD97m Investment in South African Fiber Network Operator MetroFibre Networx

African Infrastructure Investment Managers (AIIM), through its newly incorporated Digital Infrastructure Investment Holdings platform, and existing investor STOA, a foreign investment vehicle based in France, led a ZAR1.5b (approximately USD97m)

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FMO and Ezdehar to Acquire 25% Stake in Egyptian Solvent and Resin Manufacturer Eagle Chemicals from 8 Miles for USD30m

FMO and Ezdehar have agreed to jointly acquire a 25% stake in Egypt-based solvent and water-based resin manufacturer Eagle Chemicals Group from 8 Miles for an estimated USD15m each. Read

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Novastar Leads USD2m Seed Round for Kenyan Insurtech Turaco

Novastar Ventures led a USD2m seed round for Turaco, a Kenya-based insurtech with operations in Kenya and Uganda, with participation from Mercy Corps Ventures, Musha Ventures, GAN Ventures, Zephyr Acorn,

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Target Global Leads USD10m Seed Round for Nigerian Fintech Kuda

Target Global led a USD10m seed round for Kuda, a Nigeria-based fintech that operates a mobile-first challenger bank for consumers, with participation from Entrée Capital and SBI Investment, as well

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AfricInvest Sells 30% Stake in Tunisian Geotechnical Engineering Company Hydrosol Foundations to Groupe Ginger

AfricInvest has agreed to sell its 30% stake in Tunisia-based geotechnical and foundation engineering company Hydrosol Foundations to Groupe Ginger for an undisclosed amount. Read more

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EXEO Capital and SGI Acquire South Africa’s Pearson Institute of Higher Education

EXEO Capital and Stellenbosch Graduate Institute (SGI) have jointly acquired South Africa-based Pearson Institute of Higher Education to expand access to higher education across South Africa and, selectively, in wider

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CDC Makes USD100m Follow-On Commitment to Trade Risk Sharing Facility with SMBC BI

CDC Group has committed an additional USD100m to the existing trade risk sharing facility with SMBC Bank International to provide liquidity to markets and sectors in Africa. The investment brings

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DEG Commits USD40m to AfricInvest Fund IV

DEG has disclosed a USD40m investment in AfricInvest Fund IV signed in June 2020. The vehicle, which targets USD500m and is managed by pan-African private equity fund manager AfricInvest, will

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Ninety One’s EAIF Invests USD15m in Local Currency Bond for Senegal’s Port Autonome de Dakar

Ninety One’s EAIF has invested USD15m in a local currency capital market bond issue by Senegal’s Port Autonome de Dakar (PAD), the owner of the Port of Dakar. The proceeds

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Climate Fund Managers and Eos Capital Invest USD60m to Develop Namibia-Based Kelp Farm

Climate Fund Managers (CFM) and Eos Capital have announced a partnership between Climate Investor Two (managed by CFM), Kelp Blue, and the Namibia Infrastructure Development and Investment Fund (NIDIF), managed

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KawiSafi Leads USD13.5m Series B for US- and Kenya-Based Pay-as-you-Go Technology Platform Angaza

KawiSafi Ventures led a USD13.5m Series B for Angaza, a US- and Kenya-based pay-as-you-go technology platform enabling consumer access to essential products in emerging markets. Total Carbon Neutrality Ventures, the

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CDC Invests Additional USD40m in Mauritius-Based Liquid Telecom

CDC Group has invested an additional USD40m in Liquid Telecom, an pan-African fiber, data center, and cloud technology provider, after investing USD180m in 2018. Read more

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Swedfund Invests USD1m in Kenya’s Kasha Global

Swedfund has invested USD1m in Kasha Global, an e-commerce platform with subsidiaries in Rwanda and Kenya that enables access, education, and confidential distribution of women’s contraceptives, menstrual and health products,

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Secha Capital Reaches Undisclosed First Close for South Africa-Focused Impact Fund

Secha Capital Partners has reached an undisclosed first close for its second fund, an impact fund targeting early-stage investments in South Africa. The vehicle, which targets USD30m, reportedly expects to

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AfricaGrow Commits Combined USD35m to SPE AIF I and CAIF

AfricaGrow, a fund of funds established by KfW Development Bank and Allianz Global Investors, has committed EUR15m (approximately USD17.5m) to SPE AIF I, a fund managed by SPE Capital Partners

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Stripe to Acquire Beenext- and Ingressive-Backed Nigerian Fintech Paystack for Reported USD200m+

Stripe has agreed to acquire Paystack, a Nigeria-based fintech backed by Beenext and Ingressive Capital, for a reported USD200m+. The terms of the deal are undisclosed. Read more

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SEAF Invests in Moroccan Biometric Security Company Deepsense

SEAF Morocco Growth Fund acquired an undisclosed stake in Deepsense, a biometrics security company providing an instant identity verification solution that detects online fraud attempts. Read more

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AIIM Makes Follow-On Investment in South Africa’s Phakwe Group to Support the Acquisition of Witkop Solar Park

AIIM, through its IDEAS Managed Fund, has made a second investment in South Africa-based Phakwe Group to support the company’s acquisition of Witkop Solar Park, a 30MW solar photovoltaic facility

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Actis Makes Two Digital Infrastructure Investments in South Africa

Actis has agreed to acquire a controlling stake in South Africa-based fiber network operator Octotel at an enterprise valuation of ZAR2.3b (approximately USD140m). At the same time, Actis has also

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TLG Acquires 49% Stake in Opportunity Bank Uganda

TLG Capital has acquired a 49% stake in Uganda-based commercial bank Opportunity Bank Uganda (OBUL) through its Credit Opportunities Fund. TLG is now the largest shareholder of OBUL as a

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Proparco and Bpifrance Announce Launch of Fourth Africa Fund of Funds

Proparco and Bpifrance have announced the launch of Averroès Africa, their fourth fund of funds dedicated to African funds investing in startups and SMEs in Africa. The vehicle has an

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EAIF, PIDG, and Proparco Invest USD100m Debt in Mauritian Telecom Company WIOCC

Private Infrastructure Development Group (PIDG), Ninety One’s EAIF, and Proparco have agreed to provide USD100m in financing to Mauritius-based telecommunications company West Indian Ocean Cable Company (WIOCC). PIDG and EAIF

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EBRD Commits Additional USD10m to SPE AIF I

EBRD has committed an additional USD10m to SPE AIF I, after investing USD20m in 2019. The fund is managed by SPE Capital Partners and targets investments in Egypt, Jordan, Morocco,

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Lorax Capital Partners II Reaches USD140m First Close with Commitments from EBRD and EIB

Lorax Capital Partners has reached a USD140m first close for Lorax Capital Partners Fund II, a vehicle focused on supporting SMEs in Egypt. EBRD and EIB recently committed a combined

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I&P’s Comoé Capital Exits Ivorian Publishing House Vallesse

Comoé Capital, an Africa-focused impact investment fund sponsored by Investisseurs & Partenaires, has exited Côte d’Ivoire-based publishing house Vallesse Editions. Read more

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AfricInvest Private Credit Provides Trade Finance Facility to Rwanda’s Africa Medical Supplier

AfricInvest Private Credit has agreed to provide a trade finance facility to Rwanda-based Africa Medical Supplier. Terms and size of the investment are undisclosed. Read more

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GSV Ventures Invests USD7m in South African Edtech Valenture Institute

GSV Ventures has invested USD7m in South Africa-based edtech Valenture Institute. Read more

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Sawari Ventures Invests in USD5m Pre-Series A for Egyptian AI-Powered Concierge App Elves

Sawari Ventures has invested in a USD5m pre-Series A for Elves App, an Egypt-based AI-powered concierge app for on-demand services. Read more

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ABC Fund Invests Combined USD1.4m in Two West African Agribusinesses

The Agri-Business Capital Fund (ABC Fund), a vehicle managed by Bamboo Capital Partners in partnership with Injaro Investments, has invested a combined EUR1.2m (approximately USD1.4m) in Ghana-based tubers and vegetables

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Naspers Foundry Invests in South African Food Systems Integrator Food Supply Network

Naspers Foundry, Nasper’s early-stage tech investment vehicle, has made an undisclosed investment in Food Supply Network, a South Africa-based B2B marketplace that integrates ordering systems of manufacturers, distributors, and buyers

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Helios Launches Africa Specialty Risk Group Through Fund IV

Helios Investment Partners has launched Africa Specialty Risk Group (ASR), a reinsurance business, in partnership with AXA Africa Specialty Risks former CEO Mikir Shah and Bryan Howett, the former CEO

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FMO Commits USD10m to XSML’s African Rivers Fund III

FMO has committed USD10m to XSML’s African Rivers Fund III, a vehicle targeting investments in SMEs in Central and Eastern Africa which reached a USD54m first close in September 2020.

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Ezdehar Management Acquires Stake in Egypt’s Al Tayseer Healthcare Group

Ezdehar Management has acquired an undisclosed stake in Egypt-based health care group Al Tayseer Healthcare Group through Ezdehar Egypt Mid-Cap Fund. Read more

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HIMangel Leads USD0.86m Pre-Series A for Egyptian Healthtech Rology

HIMangel led a USD0.86m pre-Series A for Egypt-based teleradiology platform Rology, with participation from Dubai Angel Investors, The Asia Africa Investment & Consulting (AAIC), and Athaal Group. Read more

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I&P Sinergi Burkina Fund Provides Seed Funding to Five Companies in Burkina Faso

Sinergi Burkina, an SME-focused impact investment fund sponsored by Investisseurs & Partenaires, has provided seed funding to five companies in Burkina Faso, namely: Maïa, an anti-malaria ointment developer; Bioprotect, an

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XSML Reaches USD54m First Close for Capital African Rivers Fund III

XSML has reached a USD54m first close for Capital African Rivers Fund III. The vehicle targets investments in SMEs in Central and Eastern Africa. Read more

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Metier Invests USD25m in South African Renewable Energy Company Broadreach Energy

Metier has invested USD25m in South Africa-based renewable energy company Broadreach Energy through its Sustainable Capital Fund. Read more

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Digital Horizon Leads USD2.4m Investment for Nigerian Healthtech Healthlane

Digital Horizon led a USD2.4m investment for Nigeria-based healthtech Healthlane, with participation from Sequoia Capital, Silicon Valley Bank, TSVC, Supernode Ventures, CRE Africa, Capitoria, as well as several early investors

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STANLIB Asset Management Acquires 10% Stake in South African Renewable Energy Developer Mulilo Energy for USD10m

STANLIB Asset Management has acquired a 10% stake in South Africa-based local renewable energy developer Mulilo Energy Holdings for USD10m. Read more

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Aleyo Capital Invests USD5.3m for 29.1% Stake in Zimbabwe’s Financial Services Company First Mutual

Aleyo Capital has agreed to invest USD5.3m for a 29.1% stake in Zimbabwe-based financial services company First Mutual Reinsurance Holdings. Under the agreement, First Mutual will establish a subsidiary, First

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CDC Makes USD12m Follow-On Investment in Ghana’s Sustainable Forestry and Timber Business Miro Forestry

CDC Group has made a USD12m follow-on investment in Miro Forestry, a sustainable forestry and timber business with operations in Ghana and Sierra Leone. The investment is part of the

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IFC, Ciel, Investment Fund for Healthcare in Africa, Proparco, and Kibo Capital Provide USD6.5m in Debt and Equity to Mauritius-Based Ciel Healthcare

Proparco, Kibo Capital, Ciel Limited, and other shareholders of Mauritius-based healthcare center management company Ciel Healthcare invested USD2.5m in its Ugandan subsidiary International Medical Group (IMG). IFC also approved a

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ARC FS Acquires 25% Economic Interest in SanLam’s South African Asset Management Business

Sanlam has signed an agreement with African Rainbow Capital Financial Services (ARC FS) to own an approximate 25% economic interest in Sanlam’s South African third-party asset management business. The transaction

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Helios-Backed Helios Towers to Acquire Passive Infrastructure Assets from Free Senegal for USD188m

African telecom towers operator Helios Towers, a company backed by Helios Investment Partners, has agreed to acquire the passive infrastructure assets of Senegal-based mobile network operator Free Senegal, for a

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FMO and Global Ventures Lead USD3.5m Investment in Egyptian Fintech Paymob

FMO and Global Ventures led a USD3.5m investment in Egypt-based digital payments platform Paymob, with follow-on from A15. Read more

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Verod Capital Acquires Nigerian Pension Fund Administrator AXA Mansard Pensions

Verod Capital Management has acquired 100% of Nigeria-based pension fund administrator AXA Mansard Pensions, a subsidiary of AXA Mansard Insurance, for an undisclosed amount. The transaction is subject final approval

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