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Adenia Acquires South African Electrical and Solar Equipment Distributor Herholdt’s

Adenia has acquired a majority stake in Herholdt’s, a distributor of low-voltage electrical and solar products in South Africa, for an undisclosed amount. Read more

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Imperial Capital Acquires Namibia’s Deep Catch from Salt Capital & DEG for USD45m

Imperial Capital has agreed to acquire Namibia-based perishable foods company Deep Catch from a consortium of investors led by Salta Capital Ventures and including DEG for USD45m. Read more

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Ninety One’s EAIF and Proparco Invest ~USD200m in Project Financing to Develop Biomass Power Plant in Côte d’Ivoire

Ninety One’s EAIF and Proparco have provided EUR165m (~USD200m) in financing to BIOVEA Energie to finance the development of a biomass power plant in Côte d’Ivoire. Read more

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Berkeley Energy Reaches ~USD158m First Close for Africa Renewable Energy Fund II

Berkeley Energy has reached a EUR130m (~USD158m) first close for its Africa Renewable Energy Fund II. The vehicle, which has an initial target of USD300m, will primarily focus on hydro,

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Vital Capital Provides Financing to Two Africa-Focused Companies

Vital Capital, through its Vital Impact Relief Facility, has provided financing to Privamnuts, a Kenya-based macadamia nut processor and exporter, and to Sollatek, a manufacturer of solar and voltage control

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EXEO Exits 62.7% Stake in South Africa’s Cape Olive via Sale to Imibala

EXEO Capital has sold its 62.7% stake in South Africa-based table olive supplier Cape Olive Holdings to Imibala, a Lona Group subsidiary and Cape Olive co-shareholder. EXEO originally acquired the

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AIIM, SAHIF and STOA Acquire 25.8% Stake in South Africa’s Metrofibre from Sanlam and African Rainbow Capital

African Infrastructure Investment Managers (AIIM) along with a consortium comprising South African Housing & Infrastructure Fund (SAHIF) and STOA agreed to acquire a 25.8% interest in MetroFibre Networx, a South

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Takatso Consortium to Acquire 51% Stake in South African Airways for ~USD221m

The Takatso consortium, which includes Harith General Partners and Global Airways, has agreed to acquire a 51% stake in South African Airways from the South African government for up to

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Oasis Capital Ghana Invests USD1m in Ghanaian Fintech appsNmobile

Oasis Capital, through its Oasis Africa VC Fund, has invested USD1m in Ghana-based fintech appsNmobile Solutions. Read more

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Naspers Foundry, Cathay AfricInvest and SBI Investment Lead USD14.5m Series A+ for WhereIsMyTransport

Naspers Foundry, Cathay AfricInvest Innovation Fund and SBI Investment led a USD14.5m Series A extension for South Africa-based mobility startup WhereIsMyTransport, with participation from Wuri Ventures and Capria Ventures. Read

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Gemcorp Leads USD105m Debt Deal for Pan-African Mobile Network Operator Africell

Gemcorp Capital led a USD105m debt financing deal for pan-African mobile network operator Africell, with participation from Helios Investment Partners, Gramercy Funds Management and TC Credit Partners. Read more

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SPE Capital Exits Morocco’s H&S Holdings Back to Belkhayat Family

SPE Capital has exited its investment in H&S Invest Holding, which operates Morocco-based logistics company Dislog Group, via a sale back to the Belkhayat family. SPE Capital originally invested USD25m

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CDC-Backed Gridworks, Eranove and AEE Power Holdings Invest USD100m to Develop Solar Projects in the DRC

A consortium of investors led by CDC Group-backed Gridworks Development Partners and including Eranove and AEE Power Holdings has signed a concession agreement with the government of the Democratic Republic

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OP Finnfund Global Impact Invests USD5m in Ethiopian Poultry Company EthioChicken

OP Finnfund Global Impact Fund I has invested USD5m in EthioChicken, an Ethiopia-based poultry company. Read more

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Adenia Partners Acquires Kenyan Life Sciences Distributor Africa Biosystems

Adenia Partners has acquired Kenya-based life sciences and clinical diagnostics equipment distributor Africa Biosystems for an undisclosed amount. Read more

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Ninety One Sells South African Third-Party Administration Firm Silica to FNZ

Ninety One has sold Silica, a South Africa-based provider of third-party administration and related technology solutions to asset managers and investment product providers, to global wealth management platform FNZ. Read

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AfricInvest Invests USD2.9m Debt in South Africa’s Vida e Caffè

AfricInvest Private Credit has provided USD2.9m in financing to South Africa-based coffee chain Vida e Caffè. Read more

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Helios Invests in NBA Africa

Helios Investment Partners, through its Toronto-listed holding company Helios Fairfax Partners, and Yinka Folawiyo Group have invested in NBA Africa, a newly formed entity, in partnership with the National Basketball

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Vantage Capital Invests USD23m Debt in Egypt’s PickAlbatros Hotels

Vantage Capital has provided USD23m in mezzanine debt to Egypt-based hotel owner and operator PickAlbatros Hotels. Read more

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Nuwa Capital and MSA Capital Lead USD15m Series A for Egyptian Furniture Marketplace Homzmart

Nuwa Capital and MSA Capital led a USD15m Series A for Egypt-based furniture and home goods marketplace Homzmart, with participation from Rise Capital, Impact46, EQ2 Ventures and Outliers Ventures. Read

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Ascent Reaches USD100m+ First Close for East Africa Fund

Ascent has reached a USD100m+ first close for Ascent Rift Valley Fund II. The vehicle has an initial target of USD120m and plans to invest in SMEs in the financial

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AIIM and Reatile Group Acquire 30% Stake in Mozambique’s ROMPCO for USD293m

African Infrastructure Investment Managers (AIIM) and Reatile Group have agreed to acquire a 30% stake in Mozambique-based ROMPCO, which owns and operates the high-pressure gas pipeline connecting Mozambique with South

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Kalon VP and Caleo Lead USD2.5m Series A for South African Edtech iXperience

Kalon Venture Partners and Caleo Private Equity led a USD2.5m Series A for South Africa-based edtech iXperience. Read more

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A.P. Moller and Reunert Establish Lumika Renewables

A.P. Moller Capital and Reunert have established Lumika Renewables, a new joint venture through which they will develop a portfolio of cost-efficient, renewable energy solutions for commercial and industrial customers

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Accion Venture Lab Invests USD1.8m Seed Round for Kenyan Insurtech Lami

Accion Venture Lab led a USD1.8m seed round for Kenyan insurtech Lami, with participation from AAIC, Consonance, P1 Ventures, Acuity Ventures, The Continent Venture Partners and Future Africa. Read more

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Cepheus Growth Invests in Ethiopia’s JP Textile

Cepheus Growth Capital Partners has invested an undisclosed amount for a significant minority stake in Ethiopia-based textile company JP Textile. Read more

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MAIF Avenir and Silicon Badia Lead USD20m Round for Tunisian B2B Expense Management Platform Expensya

MAIF Avenir and Silicon Badia led a USD20m round for Tunisia-based B2B expense management solutions provider Expensya, with follow-on from ISAI and Seventure Partners. Read more

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Metier Exits South Africa’s Bokpoort Concentrated Solar Power to Revego for ~USD14.2m

Metier has sold its 12% stake in Bokpoort Concentrated Solar Power, a 50MW thermal energy power plant in South Africa, to Revego Africa Energy for ZAR204m (~USD14.2m). Read more

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Adenia Exits Côte d’Ivoire’s Power Security Solutions Provider Ademat via Sale to SPE Capital

Adenia Partners has sold its 100% stake in Côte d’Ivoire-based power security solutions provider Ademat to SPE Capital for an undisclosed amount. Adenia originally acquired Ademat in 2016. Read more

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Susa Ventures Leads USD3.5m Seed Round for Nigerian Fintech Okra

Susa Ventures led a USD3.5m seed round for Nigeria-based fintech okra, with participation from Accenture Ventures and follow-on from TLcom Capital. Read more

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Finnfund Commits USD26m to DPI ADP III

Finnfund has committed USD26m to the African Development Partners III (ADP III) fund, a pan-African, consumer-focused fund managed by Development Partners International (DPI). Read more

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Moshesh Partners Reaches First Close for Renewable Energy & Clean Infrastructure Fund

South Africa-based Moshesh Partners has reached an undisclosed first close for its Renewable Energy & Clean Infrastructure Fund. The vehicle has an initial target of ZAR2b (~USD137m) and plans to

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CardinalStone Leads USD10m Series A for Nigerian Fintech Appzone

CardinalStone Capital Advisers led a USD10m Series A for Appzone, a Nigeria-based fintech software provider, with participation from V8 Capital, Constant Capital, Itanna Capital Ventures and Lateral Investment Partners. Read

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Global Ventures Leads USD18.5m Series A for Egyptian Fintech Paymob

Global Ventures led a USD18.5m Series A for Egypt-based digital payments platform Paymob, with participation from FMO and A15. The round includes USD15m in fresh capital and USD3.5m from the

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I&P Invests Seed Rounds for Cote d’Ivoire’s Keiwa and Legafrik

Investisseurs & Partenaires (I&P), through its Acceleration Technologies program, has provided seed funding to Keiwa and Legafrik, two Cote d’Ivoire-based tech startups. Read more

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EFG Hermes Egypt Education Fund Reaches USD150m Third Close

EFG Hermes Private Equity has reached a USD150m third close for its Egypt Education Fund with a ~USD16m commitment from the Sovereign Wealth Fund of Egypt. Read more

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Sawari Ventures Reaches USD69m Final Close for Egypt Tech Fund

Sawari Ventures has reached a USD69m final close for its Egypt-focused fund. The vehicle will invest in early-stage and growth-stage tech companies in Egypt. Read more

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Infra Impact Reaches ~USD17m First Close for Mid-Market Infrastructure Fund

Infra Impact Investment Managers has reached a ZAR250m (~USD17m) first close for its Infra Impact Mid-Market Infrastructure Fund I. The vehicle, which has an initial target of ZAR1.5b (~USD102m), will

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Criterion Africa Partners Exits Eswatini’s Peak Timbers to Shiselweni Forestry Company

Criterion Africa Partners has sold the forestry and sawmilling business of its portfolio company Peak Timbers to Shiselweni Forestry Company, a subsidiary of ZARX-listed TWK Investments, for an undisclosed amount.

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Riyada Managers-Backed Taaleem Raises ~USD131m via EGX IPO

Taaleem Management Services, an Egypt-based higher education platform backed by Riyada Managers, has raised EGP2.057b (~USD131m) in an IPO on the EGX. The listing consisted of a secondary sale of

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Meridiam Invests USD48m in Africa-Focused Data Center Developer Raxio Group

Meridiam has agreed to invest USD48m in pan-African data center developer Raxio Group as part of a partnership that will help develop a network of data centers in Africa. Raxio’s

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EXEO Capital Invests in South Africa’s Maia Group

EXEO Capital, through its Agri-Vie Fund II, has made an undisclosed investment in the Maia Group, a South Africa-based holding company focused on consumer health businesses. Read more

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CardinalStone Capital Advisers Reaches USD64m Final Close for West Africa Growth Fund

CardinalStone Capital Advisers has reached a USD64m final close for CardinalStone Capital Advisers Growth Fund. The vehicle aims to support the growth and institutionalization of SMEs in Nigeria and Ghana.

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Vault Leads USD2m Seed Round for Nigerian Fintech Bankly

Vault (the holding company of VANSO) led a USD2m seed round for Bankly, a Nigeria-based fintech for under-banked consumers, with participation from Plug and Play Ventures, Rising Tide Africa and

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Amethis Acquires Moroccan Micro-Irrigation Specialist Magriser Group

Amethis, through its Amethis MENA Fund II, has acquired a majority stake in Magriser Group, a Morocco-based company specialized in the distribution and installation of turnkey micro-irrigation and solar pumping

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Valar Ventures Leads USD25m Series A for Nigerian Fintech Kuda

Valar Ventures led a USD25m Series A for Nigeria-based fintech Kuda, with follow-on from Target Global. Kuda raised a USD10m seed round led by Target Global in November 2020. Read

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TPG Rise Fund to Invest USD200m in Airtel Africa’s Airtel Mobile Commerce

TPG’s The Rise Fund has agreed to invest USD200m in Airtel Mobile Commerce BV (AMC BV), an Airtel Africa subsidiary and the holding company for several of Airtel Africa’s mobile

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Ninety One’s EAIF Provides USD34.6m in Financing to Urbasolar Project in Burkina Faso

Ninety One’s EAIF has agreed to provide EUR29m (approximately USD34.6m) in financing to Urbasolar, the developer of a 30MW solar plant in Burkina Faso. The new solar energy plant will

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Savannah Fund II Reaches First Close with IFC Commitment

IFC has committed USD3m to Savannah Fund II, a seed fund with a focus on supporting women entrepreneurs and disruptive companies in high-growth sectors in Africa. The fund, which targets

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Avenir and Tiger Global Lead USD170m Series C for Africa-Focused Fintech Flutterwave

Avenir Growth Capital and Tiger Global Management led a USD170m Series C for Flutterwave, a digital payments platform for African businesses, at a reported valuation of ~USD1b, with participation from

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SunFunder Reaches USD70m Final Close for SET Fund

SunFunder has reached a USD70m final close for its Solar Energy Transformation (SET) Fund, a blended finance vehicle focused on distributed solar and storage investments in Africa and Asia. Investors

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AIIM and EDF Invest in Kenyan Unit of Solar Solutions Provider Bboxx

African Infrastructure Investment Managers (AIIM) and French electricity company EDF Group (EDF) have agreed to make an undisclosed investment in the Kenyan unit of solar solutions provider Bboxx. Under the

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Proparco, EAV, EDFI ElectriFi and Others Invest Series B for DRC’s Renewable Energy Company Nuru

Proparco has made a convertible note investment in Nuru, a renewable energy company based in the Democratic Republic of Congo, as part of the company’s Series B. Proparco invested alongside

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