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Hlayisani Capital Reaches USD23.7m First Close for South Africa SME Fund

Hlayisani Capital has reached a ZAR350m (approximately USD23.7m) first close for its Hlayisani Growth Fund. The vehicle will invest in high-growth SMEs in South Africa. Read more

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Apis Partners and JG Summit Invest USD110m in South African Digital Bank TymeBank

Apis Partners and JG Summit Holdings have invested USD110m in South Africa-based digital bank TymeBank. The proceeds will be used to expand the bank’s presence in South Africa and to

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Ninety One’s EAIF Commits up to USD50m to Mauritian Fiber Network Operator Liquid Telecomms’s Bond Issue

Ninety One’s EAIF has agreed to purchase up to USD50m of a bond issued by Mauritius-based fiber network company Liquid Telecommunications. IFC and DEG have also committed to placing orders

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Metier Invests in Africa-Focused Energy Solutions Provider Energy Vision

Metier, through its Sustainable Capital Fund, has made an undisclosed investment in Energy Vision, a provider of clean and cost-effective energy solutions for telecom towers across Africa. Read more

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DFC Invests USD1m in Rwandan Women Health Products Marketplace Kasha Global

DFC has made a USD1m equity investment in Kasha Global, a Rwanda-based e-commerce company that provides women’s health and personal care products to customers in Rwanda and Kenya. Swedfund and

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Sawari Ventures Leads USD9m Investment in Egyptian Microelectronics Company Si-Ware

Sawari Ventures led a USD9m funding round for Egypt-based microelectronics company Si-Ware Systems, with participation from Egypt Ventures. Read more

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I&P Acceleration in Sahel Invests in 11 West African Companies

The I&P Acceleration in Sahel, a program launched in July 2020 by Investisseurs & Partenaires (I&P) and the European Union, has provided seed funding to 11 companies in West Africa.

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LeapFrog to Exit Stake in Kenyan Medical Insurance Provider Resolution Insurance via Sale to Linkham Group

LeapFrog Investments has fully exited its stake in Kenya-based medical insurance provider Resolution Insurance via a sale to Linkham Group for an undisclosed amount. The transaction is subject to regulatory

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Philadelphia Board of Pensions & Retirement Commits USD50m to DPI ADP III

Philadelphia Board of Pensions & Retirement has committed USD50m 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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Cerberus and Rockstone Real Estate Commit USD25m to Develop Residential Business Project in Ethiopia

Cerberus Capital Management and Rockstone Real Estate have committed USD25m to develop a residential building in Addis Ababa’s Signal district in Ethiopia. Read more

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Mastercard Foundation Commits USD10.5m to I&P’s Education to Employment Fund

The Mastercard Foundation has committed USD10.5m to I&P Education to Employment (IP2E) Fund, which will support businesses in the education sector in Côte d’Ivoire, Ghana, and Senegal. Read more

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IFC and IFC AMC to Invest USD15m in South African Payment Platform Adumo

IFC and IFC Asset Management Company have agreed to invest up to USD15m in South Africa-based payment platform Adumo. Read more

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Phatisa Reaches USD143m Final Close for Africa Food Fund 2

Phatisa has reached a USD143m final close for Phatisa Food Fund 2 following a USD82m joint commitment from CDC Group, Norfund, Finnfund, FinDev Canada, and BIO. The vehicle will invest

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CDC and Alfa Platform Capital Invest USD100m in Egyptian Diagnostics and Medical Care Company Alfa Medical Group

CDC Group, alongside Africa Platform Capital and the family office of (Cinven co-founder) Simon Rowlands, has invested USD100m in Egypt-based diagnostics and medical care company Alfa Medical Group. Read more

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Amethis Acquires Minority Stake in Senegalese Fast Moving Consumer Goods Company NMA

Amethis has acquired an undisclosed minority stake in Nouvelle Minoterie Africaine (NMA), a Senegal-based fast moving consumer goods company focused on the production and distribution of poultry and livestock feed,

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GGV Reaches Combined USD2.52b Close Across Five VC Funds

GGV Capital has reached a combined USD2.52b final close across five funds, including: USD1.46b for GGV Capital VIII; USD366m for GGV Capital VIII Plus; USD610m for GGV Discovery III; USD80m

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Quona Capital Leads USD3m Pre-Series A for Nigerian Wealth Management Platform Cowrywise

Quona Capital led a USD3m pre-Series A for Cowryrise, a Nigeria-based fintech startup that offers digital wealth management and financial planning solutions, with participation from Tsadik Foundation, Gumroad CEO Sahil

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Mediterrania Exits Moroccan Money Transfer Company Cash Plus

Mediterrania Capital Partners has exited its stake in Morocco-based independent money transfer company Cash Plus to a group of Moroccan family offices. Mediterrania originally acquired a 49% stake in the

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TLcom Leads USD6m Series A for Kenyan Insurtech Pula

TLcom Capital led a USD6m Series A for Pula, a Kenya-based insurtech that specializes in digital and agricultural insurance to derisk smallholder farmers across Africa, with participation from non-profit Women’s

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EIB Commits USD18m to ARCH Cold Chain Solutions East Africa Fund

The European Investment Bank (EIB) has committed EUR15m (approximately USD18m) to ARCH Cold Chain Solutions East African Fund. The vehicle, which has an initial target of USD100m and is managed

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RCF and Beedie Capital Participate in USD182m Financing Deal for Burkina Faso’s Bomboré Gold Project

Resource Capital Funds (RCF) and Beedie Capital have participated in a USD182 financing deal to fund the construction of the Bomboré Gold Project in Burkina Faso, a project owned by

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Owl Ventures Leads USD7.5m Series A for Nigerian Edtech uLesson

Owl Ventures led a USD7.5m Series A for Nigeria-based edtech uLesson, with participation from LocalGlobe and follow-on from TLcom Capital and Founder Collective. Read more

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SPE Capital Reaches USD258m Final Close for SPE AIF I

SPE Capital Partners has reached a USD258m final close for SPE AIF I, surpassing its initial hard cap of USD200m. The vehicle targets investments in Egypt, Jordan, Morocco, and Tunisia.

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FinDev Canada Invests USD12m in FMO- and CDC-Backed Miro Forestry

FinDev Canada has announced a USD12m equity investment in FMO- and CDC-backed Miro Forestry, a sustainable forestry and timber business with operations in Ghana and Sierra Leone. Read more

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Finnfund and Norfund Increase Funding of West African Solar Power Provider Starsight to USD20m

Finnfund and Norfund increased their senior debt facility for Starsight, a commercial and industrial solar power provider in West Africa, from USD10m to USD20m. Read more

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Denmark’s IFU Leads USD38m Series B for Nigerian Hybrid Solar Power Solutions Provider Daystar

Denmark’s Investment Fund for Developing Countries (IFU) led a USD38m Series B for Nigeria-based hybrid solar power solutions provider Daystar Power, with participation from French impact infrastructure fund STOA, Proparco,

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Lion’s Head Facility for Energy Inclusion Reaches Final Close

The Facility for Energy Inclusion (FEI), managed by Lion’s Head Global Partners, reached a final close of USD145m, with a total potential fund size of up to USD400m. KFW contributed

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Intel Capital, TPG Growth, and EchoVC Lead USD85m Series B for Kenya’s Global Agricultural Data & Analysis Platform Gro Intelligence

Intel Capital, Africa Internet Ventures (a strategic partnership between TPG Growth and EchoVC), and the family offices of Ronald Lauder and Eric Zinterhofer led a USD85m Series B for Gro

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Actis Exits Stake in Nigerian Marine Logistics Company C&I Leasing to Peace Mass Transit

Actis has exited its stake in C&I Leasing, a Nigeria-based company offering fleet management, outsourcing, and marine services, via a trade sale to Peace Mass Transit. Read more

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EIB to Commit USD156m to Six Africa-Focused Funds

The European Investment Bank (EIB) has approved USD156m in commitments to six Africa-focused funds, including: USD50m to AfricInvest IV; USD20m to Alitheia IDF‘s Gender Smart Fund; USD30m to WDB Equity

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TLG Exits Fintech Branch Nigeria

TLG Capital has exited Branch International Financial Services (Branch Nigeria), a Nigeria-based subsidiary of Branch Inc, a fintech company with operations in Africa, Latin America, and Asia. TLG originally invested

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FMO Commits USD10m to ARVF II

FMO has committed USD10m to Ascent Rift Valley Fund II (ARVF II), a vehicle targeting investments in SMEs in Ethiopia, Kenya, and Uganda. Read more

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Inspired Evolution Leads USD35m Investment to Establish Sub-Saharan Africa-Focused Energy Services Company ESCOTEL

Inspired Evolution, through its Evolution II fund, and co-investors Norfund and Sagemcom have invested USD35m to establish ESCOTEL, a sub-Saharan Africa-focused clean energy services company. Read more

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Swedfund Commits USD10m to DPI ADP III

Swedfund has committed an additional USD10m to the African Development Partners III (ADP III) fund, a pan-African, consumer-focused fund managed by Development Partners International (DPI). Swedfund originally invested USD15m in

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Sanlam Reaches Second Close for SME Debt Fund and Invests in Three South African Business

Sanlam Investments has reached a second close for its SME Debt Fund, adding ZAR100m (approximately USD6.6m) to the ZAR250m (approximately USD16.6m) raised in September 2020. The SME Debt Fund has

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TLcom Leads USD3.75m Series A for Kenyan Healthtech Ilara Health

TLcom Capital led a USD3.75m Series A for Kenya-based healthtech Ilara Health, with participation from DOB Equity, Global Ventures, and Chandaria Capital. Read more

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Ethos Secures Advisory Contract for Ninety One’s Africa PE Funds

Ethos Private Equity has secured an advisory contract to manage Ninety One’s Africa Private Equity Fund I and Fund II, effective on December 15, 2020. Ninety One will maintain control

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Naspers Foundry Leads USD17m Series B for South African Agtech Aerobotics, FMO and AfricInvest Join

Naspers Foundry led a ZAR250m (approximately USD17m) Series B for South Africa-based agtech Aerobotics, with participation from FMO and Cathay AfricInvest Innovation Fund. Read more

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TLG Exits Fuel Retail Chain BAJ Stations Uganda

TLG Capital has exited its investment in Uganda-based fuel retail chain BAJ Stations Uganda for an undisclosed amount. TLG originally invested in the company in 2017 through its Credit Opportunities

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DFC Invests USD300m in Africa Data Centres

The US International Development Finance Corporation invested USD300m in Africa Data Centres, the data storage arm of Johannesburg-based Liquid Telecom, a company controlled by Zimbabwe’s Econet Group. Read more

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I&P Invests Pre-Series A for Ivorian Mobile Video Content Startup StarNews

Investisseurs & Partenaires (I&P), through its fund I&P Afrique Entrepreneurs 2, has invested in an undisclosed pre-Series A for Ivory Coast-based mobile video content startup StarNews. Read more

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Helios Acquires 35% Stake in Discount Grocery Retailer BIM Morocco at USD200m Valuation

Helios Investment Partners has acquired a 35% stake in the Moroccan subsidiary of Turkey-based discount grocery retailer BIM at a reported USD200m valuation. Read more

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EAV Leads USD14m Series A for Kenyan Energy Startup SunCulture

Energy Access Ventures (EAV) led a USD14m Series A for SunCulture, a Kenya-based provider of solar power systems, water pumps, and irrigation systems for smallholder farmers, with participation from Acumen

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EXEO Capital Invests in Kenyan Ice Cream & Chocolate Brand Glacier Products

EXEO Capital, through its Agri-Vie Fund II, has invested an undisclosed amount in Glacier Products, the Kenya-based producer of ice-cream and chocolate brand Dairyland. The transaction is subject to regulatory

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AIIM Completes USD80m Capital Increase for AIIF3

African Infrastructure Investment Managers (AIIM) has completed a USD80m capital increase for AIIF3, its pan-Africa infrastructure fund, bringing the total capital committed to the vehicle to USD400m. Read more

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Criterion Africa Partners Exits Ugandan Timber Plantation Global Woods to Nile Fibrewood

Criterion Africa Partners has exited Uganda-based timber plantation Global Woods via a sale to Nile Fibrewood for an undisclosed amount. Read more

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Harith General Partners and Pembani Remgro Invest in USD296m Zimbabwe Border Post Project

Harith General Partners and the Pembani Remgro Infrastructure Fund are investing an undisclosed amount in Zimborders Mauritius, an entity set up to develop the USD296m Zimbabwe Beitbridge border post complex.

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FMO and EAV Invest USD2.4m in Chad’s Electrification Company ZIZ Energie

FMO, through its Ventures Program, has signed an EUR500k (approximately USD598k) convertible note to Chad-based power and electrification company ZIZ Energie as part of a EUR2m (approximately USD2.4m) convertible round

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Ninety One’s EAIF Provides USD31m in Financing to Helios-Backed Access LNG

Ninety One’s EAIF has agreed to provide USD31m in financing to Access LNG, a provider of specialist floating LNG infrastructure backed by Helios Investment Partners, to support the construction of

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DPI Invests in CMPG to Support Merger with CAS

Development Partners International has injected additional capital in Moroccan water infrastructure and irrigation solutions provider Compagnie Marocaine de Goutte à Goutte et de Pompage (CMPG) to fund its combination with

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A.P. Moller Acquires 49% Stake in Moroccan Grain Terminal Operator MCM

A.P. Moller Capital, through its Africa Infrastructure Fund I, has acquired a 49% stake in Morocco-based grain terminal operator Mass Céréales al Maghreb (MCM). Read more

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AfricInvest Acquires Minority Stake in Fidelity Bank Ghana

AfricInvest has acquired an undisclosed minority stake in Ghana-based Fidelity Bank Ghana through its two funds, AfricInvest Fund IV and FIVE (AfricInvest Financial Inclusion Vehicle), from Kagiso Tiso Holdings Proprietary.

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Climate Fund Managers to Provide USD40m in Financing to Develop Senegal’s Niakhar Project

Climate Fund Managers has agreed to provide up to USD40m in financing via the Climate Investor One’s Construction Equity Fund to support the development of the Niakhar Project, a solar

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