Regions

Africa

Industry News

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

Read More

SEAF Reaches Final Close for Morocco Growth Fund

SEAF has reached an undisclosed final close for its SEAF Morocco Growth Fund. The vehicle, which was created as part of the InnovInvest Fund program managed by the Caisse Centrale

Read More

8 Miles and Other Shareholders to Exit Uganda’s Orient Bank via Sale to I&M Holdings

I&M Holdings has agreed to acquire a 90% stake in Uganda-based Orient Bank, providing an exit for shareholders including 8 Miles who first invested in the bank in 2015 and

Read More

Network International to Acquire Apis-Backed African Digital Payments Group DPO for USD288m

Dubai-headquartered payment company Network International has agreed to acquire DPO Group, a digital payments platform operating in Africa and the Middle East backed by Apis Partners, for USD288m. Read more

Read More

KKM Acquires CDC-Backed Feronia’s Stake in Agribusiness Plantations et Huileries du Congo in Restructuring Deal

Straight KKM 2 (KKM), backed by Kuramo Capital Management and Mafuta Investment Holdings, has agreed to acquire CDC-backed Feronia’s direct and indirect equity interests in Congo-based palm oil agribusiness Plantations

Read More

Vantage Capital Commits USD4.9m in Mezzanine Financing to Alleyroads’ Housing Development Project in South Africa

Vantage Capital has provided ZAR82m (approximately USD4.9m) in mezzanine financing to Alleyroads Group’s Kayalane Heights, a housing development project in South Africa. Read more

Read More

EAV Invests in Chad’s Electrification Company ZIZ Energie

African investment firm Energy Access Ventures (EAV) has invested an undisclosed amount in Chad-based power and electrification company ZIZ Energie. Read more

Read More

E4E Africa Reaches USD8.1m First Close

Entrepreneurs for Entrepreneurs Africa (E4E Africa), a new venture capital fund that has officially launched in South Africa, has reached a ZAR135m (approximately USD8.1m) first close anchored by SA SME

Read More

ASMA Invest Commits Undisclosed Amount to SEAF Morocco Growth Fund

ASMA Invest has committed an undisclosed amount in SEAF Morocco Growth Fund. The vehicle, which was created as part of the InnovInvest Fund program managed by the Caisse Centrale de

Read More

Novastar Ventures, AXA Impact Fund, FMO, and Mirova Lead USD28m Series B for Kenyan Tech-Enabled Sustainable Forestry Company Komaza

Novastar Ventures, AXA Impact Fund, FMO, and Mirova’s Land Degradation Neutrality Fund led a USD28m Series B for Kenya-based tech-enabled sustainable forestry company Komaza. Read more

Read More

Partech, IFC, We-Fi, and MSA Capital Lead USD10m Pre-Series B for Nigerian E-Commerce Startup TradeDepot

Partech, International Finance Corporation, Women Entrepreneurs Finance Initiative (We-Fi), and MSA Capital led a USD10m pre-Series B for Nigeria-based B2B e-commerce startup TradeDepot. Read more

Read More

IFC Provides Combined USD319m in Loans to Four African Businesses

International Finance Corporation (IFC) has agreed to provide up to USD319m in loans to four businesses in Africa. Specifically, IFC will provide loans of USD185m to The Standard Bank of

Read More

Helios to Merge Helios Holdings Group with Fairfax Africa to Create Helios Fairfax Partners

Helios Holdings Group, the holding company of Helios Investment Partners, and Fairfax Africa Holdings Corporation, an investment holding company traded on the Toronto Stock Exchange, have agreed to combine their

Read More

Ninety One’s EAIF Anchors USD170m African Telecom Sonatel Senegal’s Bond Issuance with USD50m

Ninety One’s EAIF has agreed to invest up to XOF29.5b (approximately USD50m) in a XOF100b (approximately USD170m) bond issue in the Senegal business of West African telecom company Sonatel. Read

Read More

LeapFrog to Acquire 24% Stake in Kenyan Insurer ICEA LION

LeapFrog Investments has agreed to acquire a 24% stake in Kenya-based insurer and asset manager ICEA LION through LeapFrog Strategic Africa Investments, a USD350m investment vehicle set up by LeapFrog

Read More

Africinvest IV Reaches USD202m First Close

AfricInvest IV has reached a USD202m first close anchored by recent investments from CDC and Finnfund, who committed USD50m and USD20m, respectively. The fund, which targets USD500m and is managed

Read More

Actis-Backed Honoris United Universities Acquires Nigeria’s Nile University

Actis-backed pan-African education group Honoris United Universities has acquired Nigeria-based Nile University. This marks the group’s first investment in West Africa. Read more

Read More

IFC, IFU, and Proparco Invest USD108.5m in African Health Care Company Humania

International Finance Corporation, IFU, and Proparco have agreed to provide up to USD108.5m in equity financing to health care company Humania to help improve medical care in Morocco and Egypt.

Read More

CDC Commits USD100m to Helios IV and Closes USD100m Trade Finance Risk Sharing Facility with SocGen

CDC Group has made a USD100m commitment to Helios Investors IV, a pan-African fund managed by Helios Investment Partners. CDC has also closed a USD100m trade finance risk sharing facility

Read More

FMO Commits USD10m to Eco.business II Sub-Fund

FMO has approved the commitment of USD10m to Eco.business II Sub-Fund, an open ended debt fund managed by Finance-In-Motion, which will invest in ecologically sustainable businesses with a special focus

Read More

IFC Provides USD50m in Financing to Equity Bank Kenya

International Finance Corporation has agreed to provide a USD50m senior loan to Kenya-based financial services provider Equity Bank Kenya under its COVID-19 Emergency Response WCS Envelope. The loan will expand

Read More

IFC Commits USD25m to Lorax Fund II

International Finance Corporation has agreed to invest up to USD25m in Lorax Fund II, a vehicle targeting USD250m and focused on mid-cap companies with growth potential primarily in Egypt. Read

Read More

Proparco Commits USD30m to AfricInvest

Proparco has agreed to invest up to USD30m in AfricInvest IV. The fund, which targets USD500m and is managed by pan-African private equity fund manager AfricInvest, will focus on mid-market

Read More

Proparco and Société Générale Provide ~USD34m to Actis for Development of Cameroon’s Douala Grand Mall

Proparco and Société Générale have provided EUR30m (approximately USD34m) to Actis to support the development of Douala Grand Mall, an EDGE-certified shopping center in Cameroon, which will create over 4,500

Read More

Ninety One’s EAIF Invests USD30m in USD750m Bond Issued by Helios-Backed Helios Towers

The Emerging Africa Infrastructure Fund (EAIF), managed by Ninety One, has invested USD30m in a UK-listed bond issued by HTA Group, a subsidiary of African telecom towers operator Helios Towers,

Read More

Sanlam Investments Seeds Three African Impact Funds with USD135m

Sanlam Investments has launched three impact funds, named the Investors’ Legacy range, and committed ZAR2.25b (approximately USD135m) of its own capital to the initiative. The funds aim to support the

Read More

Ethos and Proparco Invest USD22m in Ethiopian Holding Company Turaco

Ethos Private Equity and Proparco have invested USD22m in Turaco, a holding company managed by 54 Capital PE Advisors, which holds a portfolio of fast-moving consumer goods assets in Ethiopia.

Read More

African Frontier Capital and d.light Establish USD65m Financing Facility with USD20m Loan from DFC

Africa Frontier Capital and d.light have established Brighter Life Kenya 1 (BLK1), a USD65m financing facility. BLK1 has been structured to provide d.light Kenya with local currency financing over a

Read More

ARCH EM Partners Invests USD3m in South African Solar Startup Sun Exchange

ARCH Emerging Market Partners has invested USD3m in South Africa-based solar startup Sun Exchange through its Africa Renewable Power Fund. The investment marks the close of the company’s Series A

Read More

Ninety One and Ethos Private Equity Launch USD600m South Africa Recovery Fund

Ninety One, in partnership with Ethos Private Equity, has launched a ZAR10B (approximately USD600m) recovery fund aimed at mitigating the impact of COVID-19 on South African businesses. Read more

Read More

IFC Commits Combined ~USD128.5m in Nigeria’s Zenith Bank, Tunisia’s Data Processor VACPA, Mozambique’s Westfalia Fruto Mozambique, And Egypt’s Globaltronics

International Finance Corporation has agreed to invest up to USD128.5m in African businesses, including a USD100m senior loan to Nigeria’s Zenith Bank; a USD11m senior loan to Tunisia’s date processor

Read More

PIC to Acquire South African Agribusiness Alzu Agri

South African asset manager Public Investment Corporation (PIC) has agreed to acquire South Africa-based agribusiness Alzu Agri on behalf of its client, the Government Employees Pension Fund of South Africa.

Read More

IFC Commits up to USD30m to AfricInvest

International Finance Corporation has agreed to invest up to USD30m in AfricInvest IV. The fund, which targets USD500m and is managed by pan-African private equity fund manager AfricInvest, will focus

Read More

Carlyle’s Africa Team Spins out to Form Alterra Partners

The Carlyle Group is spinning out its Africa-focused senior executive team to set up Alterra Partners, an independent buyout firm. Alterra will manage Carlyle’s USD698m Sub-Saharan Africa fund as a

Read More

CDC Leads USD17m Investment in Ghanaian Healthtech mPharma

CDC Group led a USD17m investment in Ghana-based prescription drug inventory management company mPharma, with participation from previous investors including former Novartis CEO Dr. Daniel Vasella, Silicon Valley investor Jim

Read More

PIC Acquires 13% Stake in Moroccan Real Estate Platform Aradei Capital for USD50m

South African asset manager Public Investment Corporation (PIC) has acquired a 13% stake in Morocco-based real estate platform Aradei Capital on behalf of its client, the Government Employees Pension Fund

Read More

Old Mutual-Backed UFF Agri Invests in Malawian Agribusinesses Jacoma Estates and Tropha Estates

UFF Agri Asset Management, a specialty advisor for agricultural investments in Africa backed by Old Mutual Investment Group, has invested in Malawi-based agribusiness and macadamia producer Jacoma Estates and its

Read More

Mediterrania-Led Consortium Acquires Egyptian Diagnostics Imaging Company MetaMed for ~

A consortium of investors led by Africa-focused growth equity fund manager Mediterrania Capital Partners has acquired Egypt-based diagnostics imaging company MetaMed from Middle East- and Africa-focused alternative investment firm Gulf

Read More

Swedfund Provides ~USD5.5m Loan to Platcorp to Support SMEs in East Africa

Swedish development finance institution Swedfund has provided EUR5m (approximately USD5.5m) in financing to Platcorp, a financial institution providing credit to private individuals and SMEs in Kenya, Uganda, and Tanzania. Read

Read More

DPI Invests USD56m in Tunisian Tomato Processor SICAM

Africa-focused private equity firm Development Partners International (DPI) has invested USD56m in Tunisia-based tomato processor Société Industrielle des Conserves Alimentaires (SICAM) through African Development Partners III (ADP III). Read more

Read More

Anthemis Exponential Ventures Leads USD6m Series A for Kenyan Agtech Apollo Agriculture, Accion Venture Lab and Others Join

Anthemis Exponential Ventures, a partnership between Anthemis Group and Exponential Ventures, led a USD6m Series A for Kenya-based Apollo Agriculture, a financing and products platform for small farmers, with participation

Read More

Actis Exits Ghanaian Commercial Bank GHL Bank

Actis has exited its majority stake in Ghana-based commercial bank GHL Bank to FirstRand Group subsidiary First National Bank Ghana. Read more

Read More

FMO Invests USD13.5m in African Microfinance Group COFINA

Dutch development finance institution FMO has invested EUR12.5m (approximately USD13.5m) in African microfinance group Compagnie Financiere Africaine (COFINA) via two transactions: a EUR7.5m (approximately USD8.1m) investment in Cofina’s subsidiary in

Read More

Cepheus Growth Capital Partners Invests in Lion Brands

Ethiopia-focused fund manager Cepheus Growth Capital Partners has made an undisclosed investment in Ethiopia-based fast-moving consumer goods manufacturer East African Lion Brands Manufacturing Share Company. Read more

Read More

ECP-Backed Mukura Acquires Malawi Assets of South African Fintech Zoona

Emerging Capital Partners-backed money transfer operator Mukura has acquired the Malawian assets of South Africa-based fintech Zoona. The details of the transaction are undisclosed. Read more

Read More

Ninety One and Rand Merchant Bank Ventures Partially Exit Consumer Goods Platform Kamoso Africa to Botswana Development Corporation

Ninety One, formerly known as Investec Asset Management, and Rand Merchant Bank Ventures have sold partial stakes in Botswana-based consumer goods supplier and distributor Kamoso Africa to Botswana Development Corporation

Read More

Novastar Ventures Africa Fund II Reaches USD108m Final Close

Africa-focused venture capital fund manager Novastar Ventures has reached a USD108m final close for its second fund. The vehicle targets early and growth stage startups in East and West Africa.

Read More

Convergence Partners Acquires Vodacom Business Africa’s Operations in Nigeria, Zambia, and Cote D’Ivoire

Africa-focused TMT investment management firm Convergence Partners has acquired Vodacom Business Africa’s operations in Nigeria, Zambia, and Cote d’Ivoire via its pan-African digital service provider platform inq. (formerly known as

Read More

Capitalworks Private Equity Fund III Reaches ~USD275m Final Close

Sub-Saharan Africa-focused private equity firm Capitalworks has reached a ~USD275m final close for Capitalworks Private Equity Fund III, according to Africa Capital Digest. Morgan Stanley Alternative Investment Partners is among

Read More

Vantage Capital Exits South African Optical Network Operator Vumatel

Africa-focused private credit fund manager Vantage Capital has fully exited South Africa-based optical network operator Vumatel. Vantage Capital originally provided financing to the company in 2016 and recently achieved the

Read More

AIIM’s AIIF2 Exits South African Renewable Energy Projects Cookhouse and REISA to AIIM’s IDEAS Fund

African Infrastructure Investment Managers (AIIM) has successfully divested AIIF2’s 14% stake in Cookhouse, a 139MW wind farm, and 34% stake in REISA, a 75MW solar PV facility, via sales to

Read More

EBRD Makes USD4m Follow-On Investment in Egyptian Online Marketplace Developer BasharSoft

EBRD has made a USD4m follow-on investment in Egypt-based online platform and marketplace developer BasharSoft. EBRD previously led the company’s USD6m Series B in 2018. Read more

Read More

Mangwana Capital to Invest in Australian Oil & Gas Company Invictus Energy to Develop Muzarabani Project in Zimbabwe

Zimbabwe-based private equity firm Mangwana Capital has agreed to invest in Australian oil & gas exploration company Invictus Energy to develop the Muzarabani Project, an oil & gas exploration project

Read More