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Industry News

Private Capital-Backed Helios Towers Raises USD362 Million in IPO

UK-based, Africa-focused telecommunications infrastructure company Helios Towers has raised GBP288 million (approximately USD362 million) through its initial public offering (IPO) on the London Stock Exchange. The company sold shares at

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Carlyle Agrees to Invest in Boru Energy

Global alternative asset manager The Carlyle Group has agreed to invest in Boru Energy, a newly established oil and gas investment platform. The platform, which will be run by former

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DPI and Convergence Partners Invest USD54 Million in Channel VAS

Africa-focused private equity firms Development Partners International (DPI) and Convergence Partners have invested USD54 million in Channel VAS, a UAE-based financial technology company. Channel VAS provides mobile financial, airtime credit,

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Tell Group Leads USD4 Million Series A for temtem

Tell Group, a private equity and corporate advisory firm focused on Europe, the Middle East, and North Africa, has led a USD4 million Series A financing round for Algeria-based ride-hailing

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Tana Africa Capital to Invest USD20 Million in Palmagri Red Fruits Business

Africa-focused evergreen investment company Tana Africa Capital has agreed to invest MAD200 million (approximately USD20 million) in the red fruits subsidiary of Palmagri, the agricultural division of Morocco-based conglomerate Palmeraie

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The Carlyle Group Acquires Majority Stake in IsoMetrix

Global alternative asset manager The Carlyle Group has acquired a majority stake in IsoMetrix, a South Africa-based environmental, health, and safety software provider. IsoMetrix plans to collaborate with another recent

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Tamela Capital Partners Raises USD27 Million for First Close of Tamela Mezzanine Debt Fund 1

Africa-focused private investment fund manager Tamela Capital Partners has reached a ZAR420 million (approximately USD27 million) first close for Tamela Mezzanine Debt Fund 1. The fund seeks to finance mid-market

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IFC and IFC AMC Sell Stake in Ecobank to Arise

Africa-focused financial services investment company Arise has acquired a 14.1 percent stake in pan-African banking group Ecobank Transnational from IFC and IFC Asset Management Company (AMC). IFC AMC first invested

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Silk Invest Partially Exits Sundry Foods to Norfund

Frontier markets-focused asset manager Silk Invest has partially exited Nigeria-based food services company Sundry Foods to Norwegian development finance institution Norfund. Sundry Foods, which operates quick service restaurants, bakeries, and

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AIIM and Nedbank Invest USD26 Million in SOLA Group

African Infrastructure Investment Managers (AIIM), a subsidiary of Africa-focused asset manager Old Mutual Alternative Investments, and Nedbank Energy Finance have agreed to invest ZAR400 million (approximately USD26 million) in SOLA

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Kobo360 Receives USD20 Million Series A Investment Round Led by Goldman Sachs

Nigeria-based freight logistics business Kobo360 has secured USD20 million in a Series A funding round led by global asset manager Goldman Sachs. Additional participants in the round include early-stage investors

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PAPE Fund III Reaches USD62 Million Final Close

South Africa-focused private equity firm PAPE Fund Managers has reached a final close for PAPE Fund III with ZAR950 million (approximately USD62 million) in commitments. Investors in the fund include

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responsAbility Partially Exits Fawry in IPO, Invests in Aye Finance

Egypt-based electronic payments platform Fawry has raised EGP1.6 billion (approximately USD96 million) in its initial public offering (IPO) on The Egyptian Exchange. As part of the IPO, Africa-focused private investment

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Investec Acquires Manda Hill, Finances GSEZ Ports

Growthpoint Investec African Properties (GIAP), a pan-African real estate investment trust managed by Africa-focused investors Investec Asset Management and Growthpoint Properties, has acquired a 100 percent stake in Zambia-based Manda

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Ethos and Apex Acquire Torre Industries

South Africa-focused private equity fund manager Ethos and global private equity investment group Apex Partners have acquired two separate parts of Torre Industries, a South Africa-based industrial equipment producer. Following

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Actis Acquires BioTherm Energy from Denham Capital

Global growth markets investor Actis has acquired South Africa-based renewable energy provider BioTherm Energy from Denham Capital, a global energy-focused private equity firm. BioTherm, which currently manages a 288-megawatt portfolio

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Verod Capital Reaches USD150 Million Interim Close for Verod Fund III

West Africa-focused private equity firm Verod Capital Management has reached an interim close for Verod Fund III with USD150 million in commitments. Investors in the fund include the European Investment

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Swvl Raises USD42 Million in Funding Round

Egypt-based transportation booking company Swvl has raised USD42 million from global investors Vostok New Ventures, BECO Capital, MSA Capital, and Endeavor Catalyst in its latest funding round. Founded in 2017,

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MITC Capital Exits Ma-Navette to Glen Invest

Morocco-focused venture capital fund manager MITC Capital has sold its stake in on-demand transportation services provider Ma-Navette to Glen Invest, a Morocco-focused investment holding company. MITC originally invested in Ma-Navette,

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SEAF Invests in SOS Credit

Global impact investing firm SEAF has invested in SOS Credit, a Morocco-based online financial services broker, through SEAF Morocco Growth Fund. SOS Credit will use the funds to expand its

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AfricInvest Invests USD3 Million for Additional Stake in Britam

Africa-focused private equity fund manager AfricInvest has acquired an additional 3 percent stake in Nairobi Stock Exchange-listed financial services group Britam for KES273 million (approximately USD3 million), bringing its total

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EXEO Capital Reaches USD146 Million Final Close for Agri-Vie Fund II

Pan-African private equity fund manager EXEO Capital has reached a final close for Agri-Vie Fund II with capital commitments totaling USD146 million. Investors in the fund include development finance institutions

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Old Mutual to Acquire Majority Stake in Footgear

Old Mutual Private Equity (OMPE), a division of Africa-focused asset manager Old Mutual Alternative Investments, has agreed to acquire a majority stake in South Africa-based shoe retailer Footgear. Founded in

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Ethos Agrees to Invest USD13 Million in TymeBank

South Africa-focused private equity fund manager Ethos has agreed to invest ZAR200 million (approximately USD13 million) in TymeBank, a South Africa-based digital bank. Ethos will acquire an eight percent stake

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ECP Acquires Stake in Inter Africa Transport Forex

Pan-African private equity fund manager Emerging Capital Partners (ECP) has agreed to acquire a majority stake in Mauritius-based Inter Africa Transport Forex through its fourth flagship fund. The financial technology

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The Carlyle Group Agrees to Invest US$40 Million in Wakanow; African Capital Alliance to Exit

Global alternative asset manager The Carlyle Group has agreed to invest US$40 million in Wakanow, a Nigeria-based online travel agency focused on West and East Africa. Carlyle invested through its

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Amethis Reaches USD425 Million Final Close for Fourth Fund

Africa-focused private investment fund manager Amethis has reached a final close for Amethis Fund II with EUR375 million (approximately USD425 million) in capital commitments. Investors in the fund include the

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Adenia Partners Acquires Controlling Stake in Tumaini Self Service

Africa-focused private equity fund manager Adenia Partners has acquired a controlling stake in Tumaini Self Service, a Kenya-based supermarket chain operator. Adenia acquired the company through its special purpose vehicle

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EFG Hermes Private Equity Reaches US$119 Million First Close for Egypt Education Fund

EFG Hermes Private Equity, a Middle East and North Africa-focused private equity fund manager, has reached a first close for Egypt Education Fund (EEF) with US$119 million in capital commitments.

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Emerging Capital Partners Acquires Majority Stake in Artcaffé Group

Africa-focused private equity fund manager Emerging Capital Partners (ECP) has acquired a majority stake in Artcaffé Group, a Kenya-based restaurant company. Artcaffé operates 26 restaurants in Nairobi across five brands,

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Catalyst Principal Partners Reaches US$155 Million Final Close for Second Fund (Africa)

East Africa-focused private equity fund manager Catalyst Principal Partners has reached a final close for Catalyst Fund II with US$155 million in capital commitments. Investors in the fund include development

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AfricInvest Closes Maghreb Private Equity IV with US$221 Million in Commitments (Africa)

Pan-African private equity fund manager AfricInvest has reached a final close for Maghreb Private Equity IV with EUR194 million (approximately US$221 million) in capital commitments. The African Development Bank committed

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Amethis and WAEMGF Exit Petro Ivoire via Vantage-financed MBO (Africa)

Amethis Finance and the West Africa Emerging Markets Growth Fund (WAEMGF) have exited their stakes in Côte d’Ivoire-based downstream oil and gas company Petro Ivoire via a leveraged management buyout

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AfricInvest Invests US$51 Million in iSON Xperiences with Gulf Capital, Commits US$14 Million to Les Centaures Routiers (Africa)

Alternative investment fund managers AfricInvest and Gulf Capital have invested US$51 million in iSON Xperiences, a Kenya-based outsourcing and customer service company. Through AfricInvest III and Gulf Credit Opportunities Fund

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