Impact Investing

EIB boosts clean energy financing

26 October 2022

EIB boosts clean energy financing in support of REPowerEU Plan Additional financing expected to mobilize up to €115 billion in investment for energy efficiency, renewables, grids, charging infrastructure, and storage Packag…

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October Industry News

24 October 2022

A collection of news across the African private equity and venture capital industry | Africa50 to invest in education group The investment will be used by Holding Générale d'Education or Holged Group to support its expansion plans elsewhere in Africa. …

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Aruwa Portfolio Company Lifestores receives new Strategic Investor

13 October 2022

The round, which was oversubscribed by 50%, marks the first investment for Health54, the corporate venture arm of CFAO Group, which is the largest healthcare distribution channel in sub-Saharan Africa. Lifestores aims to increase the number of OGApharmacy…

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Sanari Capital back biometrics company

06 October 2022

Biometrics tech firm iiDENTIFii has raised $15 million in a growth capital round led by African investment company Arise whose investors include Rabobank Partnerships, Norfund, NorFinance and FMO. Growth-stage private equity firm Sanari Capital and US tec…

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AIIM commits US$150mn to create pan-African cold chain logistics

04 October 2022

To improve essential temperature-controlled logistics infrastructure in sub-Saharan Africa and ensure food security in the region, African Infrastructure Investment Managers (AIIM) and its investment partners, Bauta Logistics and Mokobela Shakati (Pty) Lt…

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Norfund invests in wind farms in South Africa

30 September 2022

Norfund is investing ZAR 365m (ca. NOK 220m) in wind farms in South Africa under the new Norwegian Climate Investment Fund. Three wind farms with a total capacity of 420 MW will be built by EDF Renewables, and Norfund is investing in the project through i…

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Oikocredit invests in Farmline

26 September 2022

Accra, Ghana & Amersfoort, the Netherlands – Farmerline Group today announced the second close of a Pre-Series A investment raise with an additional US$ 1.5 million investment from social impact investor Oikocredit. The investment is part of a total …

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September Industry News

26 September 2022

A collection of news across the African private equity and venture capital industry | Bboxx acquires PEG Africa Tuesday 6th September 2022 – Bboxx is cementing its status as the leading super platform for life-changing products and services on the Afric…

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Norfund invests in Zambian soya processor 

20 September 2022

Norfund is investing 5 million USD in 260 Brands to finance the company’s expansion into production of soymilk, creating jobs and increasing access to locally-produced nutritious food.    260 Brands is an agro-processing company based in Lusaka, Zambia, …

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IFC signs Malawi hydropower agreement 

06 September 2022

Lilongwe, Malawi, September 6, 2022--The Government of Malawi (GOM), IFC, Scatec and EDF today sign a binding commercial agreement to undertake the co-development of the Mpatamanga hydropower project. The agreement, signed under Malawi's Public-Private P…

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Actis signs agreement with Egyptian government for green hydrogen development

26 August 2022

Green hydrogen to be a key enabler of the global Energy Transition, offers excellent solutions for decarbonisation Actis’ track record in supporting the Energy Transition in MEA was a key factor in Egyptian government’s decision London, Cairo, 2…

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Helios-managed climate-focused PE fund receives anchor investment

09 August 2022

London, United Kingdom:  InfraCo Africa, the African development arm of the Private Infrastructure Development Group (PIDG), today announced a US$43 million anchor investment into Climate, Energy Access and Resilience (CLEAR), a climate-focused fund advis…

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Pearl Capital Partners investment in Kamp Group Limited

09 August 2022

Yield Uganda Investment Fund, an agribusiness impact investment vehicle managed by Pearl Capital Partners, has struck its second deal of the year after hacking a Ugandan agriculture supply chain firm last month. The fund, alongside Danish investor Gorm Pe…

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Actis acquires stake in Yellow Door Energy

29 July 2022

Published: 29 July 2022 Dubai-based Yellow Door Energy is the leading Middle East and Africa focused platform targeting more than 1GW of distributed solar and related energy solutions to C&I customers in the region The company’s mission is to …

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FMO invests US$145mn in Green Climate Fund

21 July 2022

The Board of the Green Climate Fund (GCF) has approved the joint FMO – Climate Fund Managers (CFM) USD 145mln proposal to accelerate private sector investments in low-emission and climate-resilient water, sanitation and ocean projects, entitled Climate In…

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IFC and Zambeef Partner to Boost Food Security

18 July 2022

Lusaka, Zambia, July 18, 2022—IFC and Zambeef Products PLC, one of the region's leading agribusiness companies, are joining forces to boost food security and strengthen Zambia's agricultural sector to create jobs and help fight poverty. IFC will invest u…

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EDFI ElectriFI and Oikocredit co-invest in solar company

11 July 2022

Solar Panda, which designs, manufactures and distributes pay-as-you-go solar home systems to low-income communities in Kenya has received US$8mn in funding from Oikocredit and Electrification Financing Initiative (EDFI ElectriFI) Since 2018, Solar Panda …

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Oikocredit support off-grid power for low-income Kenyans with Solar Panda

07 July 2022

The new partnership will help sustain in-country growth of clean, safe and affordable domestic electricity. Amersfoort, the Netherlands, Brussels, Belgium and Nairobi, Kenya – Social impact investor and worldwide cooperative Oikocredit and the EU-f…

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IFC invests in mobile money company

06 July 2022

IFC has invested €90 million in Wave Mobile Money to spur financial inclusion and support economic growth in Senegal and Côte d'Ivoire. International Finance Corporation, a member of the World Bank Group has invested  €90 million in Wave, Francophone Afr…

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British International Investment and INOKS Capital announce first-of-its-kind Africa-focused trade access programme

06 July 2022

Trade Access Program (TAP) is launched with US$ 25 million capital from British International Investment (BII) The programme aims to strengthen trade across Africa by backing the growth of small and medium-sized enterprises (SMEs), AgriTech, FinTechs a…

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British International Investment and Norfund to invest up to US$200mn in African hydropower

23 June 2022

British International Investment, the UK’s development finance institution, is joining Norfund, the Norwegian Investment Fund for developing countries, in its joint venture with Scatec ASA to provide capital for Africa’s hydropower sector.   This will b…

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FMO proposes investment in West African solar company

22 June 2022

FMO: Proposed Investment  Who is our prospective client? SolarX is a Commercial and Industrial (“C&I”) solar rooftop business active in Mali, Burkina Faso and Senegal. SolarX offer affordable, clean and reliable power assets with attractive economic…

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IFC invests equity into African healthcare company Avacare

13 June 2022

Johannesburg, South Africa, June 13, 2022—To increase access to high quality, affordable healthcare products and services across Africa, IFC today announced a partnership with Avacare Global to help the company expand its manufacturing and distribution of…

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IFC set to invest US$26mn in Partech’s Africa Fund II

10 June 2022

The International Finance Corporation (IFC), the private sector arm of the World Bank, plans to make an equity investment of up to €25 million ($26.43) into the Partech Africa Fund II (PAF II) by the Paris-based VC firm Partech. The IFC said in the disclo…

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Sawari Ventures invests in Egypt lending platform ADVA

09 June 2022

Egypt-based fintech ADVA has raised an undisclosed "six-digit figure" Seed round from Sawari Ventures. Founded in 2020 by Rania Gaafar, ADVA is a consumer lending platform that allows customers to pay for a wide variety of services and products in inst…

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British International Investment (“BII” - formerly known as CDC Group), Norfund, and Finnfund invest into South African integrated food Business, Lona Group

23 May 2022

Consortium of global development finance institutions back Phatisa-led investment Expansion capital to drive growth and investment into cutting-edge, sustainable food production (Monday 23rd May 2022, Mauritius) – Phatisa, together with a consortiu…

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British International Investment re-establishes its presence in Kenya

13 May 2022

Nairobi - 13 May 2022 - On Thursday evening, Nick O’Donohoe, CEO of British International Investment (“BII”), joined British High Commissioner to Kenya, Jane Marriott OBE, at a reception to launch the rebranded UK government’s Development Finance Institut…

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Amethis jointly acquires GlobalCorp, a leading non-bank financial player in Egypt

11 May 2022

SPE Capital, a private equity firm focused on Africa and the Middle East, announces the acquisition, by its private equity fund SPE AIF I, of GlobalCorp for Financial Services S.A.E (GlobalCorp), a leading Egyptian non-banking financial services company…

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IFC jointly supports small business lending and climate-smart projects

10 May 2022

Expansion of relationship includes IFC and IFC Financial Institutions Growth Fund acquiring a minority shareholding stake in Equity. IFC to support Equity's lending to MSMEs under the `Africa Recovery and Resilience Plan' with $165 million loan along w…

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British International Investment (BII) invests in Egyptian fintech, Paymob

09 May 2022

Egyptian fintech Paymob, which enables merchants to accept digital payments online and in-store, announced today it has raised $50 million in Series B funding. PayPal Ventures, the global corporate venture arm of PayPal, New-York-based venture capital Ko…

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Kuramo Capital makes US$10 Million commitment to Uhuru Fund I

07 May 2022

Kuramo Capital Management (“Kuramo”), a Sub-Saharan Africa focused investment management firm, is pleased to announce its US$10 million commitment to Uhuru Growth Fund I (“UGF”). UGF is a middle market private equity fund launched by Uhuru Investment Part…

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EXEO Capital acquires stake in SA's only manufacturer of animal active pharmaceutical ingredients

04 May 2022

The local pharmaceutical industry has the ability to make a significant contribution to South Africa’s gross domestic product as well as Africa’s broader socio-economic landscape. There are, however, very few examples of successful home-grown pharmaceutic…

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Future Africa, Wuri Ventures et al. back Norebase

04 May 2022

Startup pitches with promises to provide various services to Africans — across different sectors — are commonplace now. And in trying to sweet-talk investors, what’s not taken into context or often disregarded is that Africa is a fragmented $3 trillion ma…

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FMO jointly provides $10mn facility for clean cooking initiative

04 May 2022

The Netherlands Development Finance Corporation (FMO) is teaming up with BIX Capital to open a $10 million line of credit to C-Quest Capital (CQC). The company will use the facility to distribute environmentally friendly cook stoves in 15 sub-Saharan Afri…

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Africa Finance Corporation attracts new equity from Ghana, Sierra Leone and Seychelles

28 April 2022

Africa Finance Corporation (AFC), the continent’s leading infrastructure solutions provider, announces a boost to its shareholder capital after receiving US$35.5 million in equity investments from the Seychelles Pension Fund (SPF), the Government of Sierr…

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Wealth Fund Seeks to Invest Some of Senegal Oil Windfall Abroad

28 April 2022

Country to allocate 10% of future oil and gas revenues to fund West African economy is expected to start production next year Senegal’s sovereign wealth fund is considering investing in neighboring countries after it starts receiving…

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AVCA conference: ‘Private capital in Africa at a crossroads’

28 April 2022

Papa Madiaw Ndiaye of AFIG Funds, Tokunboh Ishmael of Alitheia Capital, Senegalese minister Amadou Hott of Senegal, and Abi Mustapha-Maduakor of the African Private Equity and Venture Capital Association (AVCA). Photo: Supplied/Ventureburn "World-c…

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IFC creates loan to finance construction of green buildings

27 April 2022

The International Finance Corporation (IFC) will provide a R600 million (~$42m) loan package to Business Partners to finance the construction of green buildings. This is the IFC’s first loan in South Africa that is exclusively dedicated to green lending …

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Investor Interest in Africa at All-Time High, But Risks Remain

27 April 2022

DAKAR, SENEGAL —  The Private Equity & Venture Capital Association (AVCA) says Africa attracted a record $7.4 billion in private capital in 2021, more than double the year before. But while the continent provides ample possibilities for…

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Energy access and financial inclusion ride Africa’s swell of private capital

27 April 2022

ImpactAlpha, April 27 – The bad news: The COVID-19 pandemic reversed progress in Africa toward Sustainable Development Goals. The good news: Much of the renewed surge of private capital flowing to the continent has an impact flavor, through investmen…

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Norfund Invests in Cashew Processor in Cote d’Ivoire

26 April 2022

Norfund is investing USD 10 million to finance a cashew processing plant in Cote d’Ivoire. Processing of cashew nuts is expected to create 2000 new jobs.  Valency International Trading SARL (“Valency CIV”) is a subsidiary of Singapore-based Valency Inter…

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BluePeak Private Capital invests up to US$15m in Africure

26 April 2022

BluePeak Private Capital has agreed to invest up to $15m in Africure, a pan-African manufacturer and distributor of quality pharmaceutical goods.   Fulton Shiundu, Principal at BluePeak Private Capital, said: "Africure is a trusted manufacturing and dis…

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Nigeria attracts most PE, VC investments in Africa

26 April 2022

Nigeria’s fintech sector attracted the highest private equity and venture capital deals in the last five years, according to data obtained from Africa Private Equity and Venture Capital Association (AVCA). Driven by venture capital deals and in…

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DOUBLING PRIVATE CAPITAL INVESTMENTS IN AFRICA

26 April 2022

Record-breaking private capital deals were made in Africa last year.   In 2021, Investors pumped in $7.4 billion—118% more than the $3.4 billion invested in 2020. The report by the African Private Equity and Venture Capital Association (AVCA) attribut…

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Private capital flow into Africa more than doubled from 2020 to 2021

25 April 2022

By Tom Collins Published April 25, 2022 Investors pumped record amounts of private equity and venture capital into Africa last year, according to a new report by the African Private Equity and Ventur…

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Norfund makes US$8mn investment in 1K1V's Redsun Dried Fruit and Nuts

20 April 2022

Norfund, a Norwegian Investment Fund for Developing Countries, has invested $8 million South Africa-based raisin processor and distributor Redsun Dried Fruit and Nuts (“Redsun”), a portfolio company of One Thousand and One Voices (1K1V). Redsun, locate…

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Standard Bank partners with Tana Africa Capital to support their growth ambitions in Africa

19 April 2022

Standard Bank Group is proud to announce its funding into Tana Africa Capital II (“Tana Africa Capital”), an investment company which aims to build African companies through growth capital, operational and strategic support. Tana Africa Capital has a port…

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African startups get record funding as analysts warn UK investors are missing out

19 April 2022

Moove bagged $105m recently to scale its vehicle financing product CITY AM: African startups received record funding last year as international venture capital poured into the continent’s booming tech sector – but analysts have warned UK inve…

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AfricInvest and IFC invest in AutoXpress

13 April 2022

AfricInvest, a leading investment platform in Africa, has a acquired a 36% stake in AutoXpress, the largest importer, distributor and retailer of tyres, auto parts and accessories operating in Kenya, Rwanda, Tanzania and Uganda. The investment has been ma…

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IFC Invests in Algebra Ventures to Support Egyptian Tech Startups and Drive Innovation

10 April 2022

Cairo, Egypt, April 10, 2022—To support tech startups with access to finance and drive innovation and job creation primarily in Egypt, IFC today announced an investment in the second fund from venture capital firm Algebra Ventures. IFC's $15 million inve…

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CDC Group, Africa’s oldest development finance institution, formally becomes British International Investment

06 April 2022

CDC Group, Africa’s oldest development finance institution, formally becomes British International Investment  New name better reflects scope of UK’s development finance institution British International Investment to play key role in fighting the c…

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Comoros: African Development Fund commits $21.6 million to upgrade national road network

04 April 2022

The Board of Directors of the African Development Fund approved on Thursday in Abidjan $21.6 million in grants for the third phase of the National Road Network Rehabilitation Program in the Union of Comoros. The grants comprise $14.1 million from the Afr…

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BluePeak’s Inaugural Fund Announces Second Investment in ieng

04 April 2022

BluePeak Invests in ieng BluePeak Private Capital’s investment supports ieng’s strategic objective to: Expand its presence across the continent Increase and improve mobile and internet connectivity in Africa through: (i) reliable servic…

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April Industry News

04 April 2022

A collection of news across the African private equity and venture capital industry | XSML reaches hard cap for African Rivers Fund III at USD 85 million XSML, a fund manager active in Central & East Africa, has reached the hard cap for its African …

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Verod Capital confirms acquisition of minority stake in Medplus

01 April 2022

Following an earlier report by Nairametrics on the acquisition of a minority stake in Medplus Limited (Medplus) by Verod Capital Limited Management, the private equity firm has confirmed that it has indeed completed the acquisition of a significant minori…

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IFC backs beverages company in Sierra Leone

01 April 2022

SIERRA LEONE – Kings Beverages, a soft drinks and fruit juices producer in Sierra Leone, has received a US$5m financial backing from international financial institution, IFC, and the Global Agriculture Food and Security Program, GAFSP. The loan, comprisi…

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AfricInvest FIVE joins mobility fintech Moove’s latest US$105m Series A2 funding round

14 March 2022

AfricInvest FIVE joins mobility fintech Moove’s latest US$105m Series A2 funding round AfricInvest, a leading investment platform in Africa, is joining mobility fintech Moove’s latest US$105 million Series A2 equity and debt financing round through its I…

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AfricaGoGreen Fund receives over $30 million investments from the African Development Bank, the Sustainable Energy Fund for Africa, and the Nordic Development Fund

10 March 2022

The African Development Bank and the Bank’s Sustainable Energy Fund for Africa (SEFA) have approved a combined-equity investment of $20 million in the AfricaGoGreen Fund(le lien est externe), a debt fund established to promote private investments in energ…

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Aruwa Capital Management Invests in Koolboks

04 March 2022

PRESS RELEASE Lagos, Nigeria, 4 March 2022 Aruwa Capital Management Invests in Koolboks A technology-enabled renewable energy refrigeration company for off-grid areas Aruwa Capital Management (“Aruwa”), an early-stage…

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CDC/BII partners with FirstBank to support women and small business owners with a US$100m credit facility

23 February 2022

Facility to strengthen FirstBank’s commitment to gender financing with US$30 million targeted to women-owned and led businesses Partnership will enhance funding to local SMEs to boost growth and promote financial and social inclusion across Nigeria Th…

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DEG’s new business 2021 above previous year's level at EUR 1.5 billion

21 February 2022

• Mobilised funds increase by 30%• New commitments in Latin America rise significantly• New business strategy: even stronger focus on impact and climate DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH can report a successful financial year …

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CDG Invest backs Freterium

17 February 2022

Freterium raises $4 million Seed Morroco-based digital trucking software startup Freterium, has raised $4 million in a Seed round led Partech, with participation from Y Combinator, Flexport, CDG Invest, Swiss Founders Fund, Outlierz Ventures, and angel…

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Janngo fund receives additional investment from EIB

16 February 2022

In the wake of the EU-Africa Business Forum, the European Investment Bank (EIB) has announced an additional €10 million through a first-loss equity investment in the Janngo Capital Start-up Fund as a flagship fund of the Boost Africa initiative.

This inv…

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IFC and development partners back Ezdehar Fund to support growth of medium-sized businesses in Egypt

02 February 2022

Cairo, January 31, 2022 – To help medium-sized businesses in Egypt access the financing and tools they need to grow, create jobs, and overcome COVID-19 related challenges, IFC today announced an investment in a private equity fund managed by Ezdehar Manag…

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ZAR 68m Edufund investment into new KZN schools set to increase quality learning opportunities in underserved market

26 January 2022

Old Mutual Alternative Investments (OMAI) through its Education Investment Impact Fund of South Africa (EduFund) has concluded a debt and equity investment worth ZAR 68 million. The investment is geared towards developing two new schools in KwaZulu-Natal …

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OZÉ raises $3M to expand Digital Recordkeeping and Financial Services for African Businesses

26 January 2022

ACCRA, GHANA - JANUARY 26th 2022: OZÉ, the fintech startup which provides digital recordkeeping tools with embedded finance products to MSMEs across West Africa, announces it has raised $3M via a pre-Series A round led by major venture capital fund, Speed…

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Helios secures Africa’s first ESG-linked capital call facility for Fund IV

24 January 2022

Leading Africa-focused private investment firm Helios Investment Partners (“Helios”) is pleased to announce that it has secured an ESG-linked capital call facility for Helios Investors IV, L.P. (“Helios IV” or the “Fund”). Rand Merchant Bank and Standard …

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FinDev Canada and its 2X Canada facility invest in Energy Entrepreneurs Growth Fund to contribute to greater access to clean energy in Africa

19 January 2022

Montreal, January 2022 - FinDev Canada and its 2X Canada facility announced today a participation of up to US$ 13 million in Energy Entrepreneurs Growth Fund (EEGF). The Energy Entrepreneurs Growth Fund offers catalytic financing and technical assistance …

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Proparco and Absa join forces to support SMEs impacted by the Covid-19 crisis

19 January 2022

Proparco is collaborating with South Africa's third largest bank by assets, Absa Bank Limited, by granting it a senior loan of $20 million to contribute to its support plan for Corporate SMEs in the context of the continuing Covid-19 crisis. South Africa…

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FMO grants EUR5mn loan to Fin'ELLE to support MSMEs and women in Cote d'Ivoire

13 January 2022

The COFINA Group is pleased to announce the new partnership with FMO, which has approved a EUR5mn investment with Fin'Elle, La Finance pour ELLE. The subsidiary of the COFINA Group is dedicated to supporting women entrepreneurs in Côte d'Ivoire and offeri…

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Alitheia IDF announces final close at US$100mn

15 December 2021

Largest gender-inclusive private equity fund in Africa 2X Flagship fund applying the 2X Challenge criteria Boosting diversity across Africa The management of Alitheia IDF (AIF), Africa’s first women-led and women-focused private equity fund, has …

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CDC partners with Holcim to provide funding for 3D-printed affordable housing project in Kenya

06 December 2021

Advanced technology drives Africa’s delivery of affordable climate-smart housing New development secures IFC-EDGE green buildings sustainable design certificate - creating resource-efficient and zero-carbon buildings at scale The 52 house community …

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CDC Group to scale up its investments in Africa

25 November 2021

CDC Group’s next five-year strategy builds on its understanding of evolving market dynamics, scales commitment to Africa and sets new ambitions for investing in innovation and digital transformation. Appoints Diana Layfield as its new Chair to succeed …

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CDC Group and Norfund propose innovative partnership with New Forests to raise US$500mn for sustainable forestry across sub–Saharan Africa

03 November 2021

CDC Group (“CDC”), the UK’s development finance institution; Finnfund, the Finnish Fund for Industrial Cooperation; Norfund, the Norwegian Government’s investment fund for developing countries; and New Forests, a global investment manager focusing on sust…

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Opportunity International and Oikocredit announce US$100mn impact investment agreement to advance education in low-income countries

02 November 2021

Opportunity International, a longstanding global leader in providing financial services to lift people out of poverty, and Oikocredit, a social impact investor and worldwide cooperative promoting sustainable development through investments, today announc…

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DEG supports electric mobility in Uganda

25 October 2021

Changing the way we travel and commute is an important issue – not just for Germany. In Africa too, planners are thinking about how to handle the increasing traffic. More and more people are using cars or motorbikes for private transportation to get aroun…

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Africa REN launches the construction of the largest solar plant in Burkina Faso

22 October 2021

Ouagadougou, Burkina Faso, October 20, 2021 - Africa REN, a pioneer in clean infrastructures in Africa, announces it has launched the construction of the Kodeni Solar power plant, near Bobo-Dioulasso, in Burkina Faso. With an installed capacity of 38MW, K…

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African infrastructure investment managers to increase access to clean energy with ZAR5.5bn fundraise for ideas fund

12 October 2021

Cape Town, 14 October 2021 – African Infrastructure Investment Managers (AIIM), one of Africa’s largest infrastructure-focused private equity fund managers, has successfully completed a capital increase of ZAR5.5bn (c.US$370mn) for its flagship SADC in…

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Àrgentil’s clean energy portfolio company FMGSL, achieves first financial closing

24 September 2021

Àrgentil Capital Management Limited (“Àrgentil or ACML”) has successfully achieved a financial closing for First Modular Gas Systems Limited (“FMGSL”), a clean energy company founded by the firm alongside Dharmattan Gas Facilities Limited. This allows FMG…

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G7 Development Finance Institutions and multilateral partners to invest over $80 billion into African businesses over the next five years

14 June 2021

The G7 DFIs, the IFC, the private sector arm of the African Development Bank, EBRD and the European Investment Bank today announced that they were committed to investing $80 billion in the private sector over the next five years to support sustainable eco…

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Driving change and positive outcomes through deal documentation

09 June 2021

The critical role of development finance institutions (DFIs) in helping to achieve the Sustainable Development Goals is well documented (see additional resources below). As a DFI, FinDev Canada’s mission is impact-driven as we seek to deploy and mobilise …

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Proparco invests EUR50mn in the first fund for green bonds issued by companies in emerging countries

18 March 2021

This investment in the US$538mn HSBC Real Economy Green Investment Opportunity (“REGIO”) fund makes Proparco one of its three founding investors. REGIO will invest in green bonds issued by private companies based in emerging countries in Asia, Africa and …

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IFC invests in Adumo to boost digital payment solutions in Africa

09 March 2021

IFC, a member of the World Bank Group, and the IFC Financial Institutions Growth Fund, are helping to increase access to digital payment solutions for small and medium-sized businesses in several countries in Africa through an investment in South Africa-b…

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FMO forms partnership to accelerate universal health coverage in Africa

08 March 2021

The partnership aims to unlock investments in primary health care in underserved communities in Sub-Saharan Africa Philips and FMO announced today, at the occasion of the AHAIC 2021 conference, that they have signed a wider partnership agreement aimed at…

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Gender-smart impact investing in emerging markets

08 March 2021

The global investment opportunity to improve the lives of women and their families is becoming increasingly well recognised. According to IFC, women-led small and medium enterprises (SMEs) worldwide face a US$1.4trn shortfall in access to credit. A McKins…

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IFC invests in Bolt to expand mobility solutions in emerging markets

05 March 2021

Washington, DC, March 5, 2021—IFC, a member of the World Bank Group, is investing in the global mobility platform Bolt to help expand access to mobility and delivery services in underserved urban areas in Africa and Eastern Europe—including in South Afric…

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LGT launches its direct impact investing activities under “Lightrock”

08 February 2021

LGT, the international private banking and asset management group owned by the Princely House of Liechtenstein, has integrated its direct impact investing activities into a newly formed and branded entity, Lightrock, a global private equity partnership …

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LeapFrog Investments Makes Three Leadership Appointments, Following Record Fundraise

23 July 2020

LeapFrog Investments Makes Three Leadership Appointments, Following Record Fundraise Experienced leaders will drive strong returns and governance for the leading impact investor LeapFrog Investments, the Profit with Purpose investment group whose compan…

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IFC Supports Access Bank with US$50mn Loan to Strengthen Local Businesses in Nigeria in the Wake of COVID-19

20 July 2020

IFC, a member of the World Bank Group, is providing a loan of up to US$50mn to Access Bank Plc to help the bank increase liquidity to thousands of small and medium-sized enterprises (SMEs) in Nigeria which are navigating the economic challenges of COVID-1…

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FMO invests US$7.5mn into sustainable forestry company Komaza

14 July 2020

FMO signed a USD 7.5 million investment in Komaza Group Inc., as part of a USD 28 million series B round with Novastar Ventures East Africa Fund, AXA Investment Managers (through the AXA Impact Fund: Climate & Biodiversity) and Mirova’s Land Degradati…

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IFC invests EUR25mn in Ivorian bank NSIA Banque Côte d’Ivoire

13 July 2020

IFC, a member of the World Bank Group, today announced a EUR25mn, one-year senior loan to NSIA Banque Côte d’Ivoire (NSIA), allowing the bank to extend new trade-related or working capital loans to companies whose cash flows have been disrupted by the Cov…

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IFC provides US$5.2mn loan to Ghanaian healthcare business Nyhao Medical Centre

08 July 2020

IFC, a member of the World Bank Group, today announced a US$5.2mn loan to Nyaho Medical Centre to support the Ghanaian health care provider’s expansion outside Accra and the upgrade of its existing hospital so it can better serve its patients.   IFC’s lo…

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IFC provides US$100mn loan to Egypt’s largest private bank

05 July 2020

IFC, a member of the World Bank Group, today announced a loan of up to US$100mn to Commercial International Bank (CIB), Egypt’s largest private bank, to help the bank increase support to clients and companies whose cash flows have been disrupted by the CO…

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Actis-backed education platform, Honoris United Universities announces expansion with the acquisition of Nile University of Nigeria

02 July 2020

Honoris United Universities, Africa’s first and largest pan-African network of private higher education institutions, today announced its expansion into West Africa by welcoming Nile University of Nigeria, known for its strong academic credentials and…

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IFC, IFU and Proparco invest US$108.5mn into North African healthcare company Humania

30 June 2020

IFC, a member of the World Bank Group, IFU, the Danish Investment Fund for Developing countries, and PROPARCO, member of the Agence Française de Développement (AFD) group, are providing an equity financing package of up to US$108.5mn to Humania, a priva…

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IFC supports The Standard Bank of South Africa with US$185mn loan

30 June 2020

IFC, a member of the World Bank Group, today announced a US$185mn loan to The Standard Bank of South Africa Limited (SBSA) to help it expand its COVID-19 lending program to small and medium-sized enterprises (SMEs) and corporates affected by the pandemic.…

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Proparco commits US$30mn into Africinvest Fund IV

25 June 2020

Through a US$30mn investment in the first close of AfricInvest’s new multisector private equity fund, Proparco will support the development of strong local and regional consumer-driven businesses across Africa. AfricInvest is one of the pione…

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IFC invests EUR10mn into Tunisian Date Exporter VACPA

25 June 2020

IFC, a member of the World Bank Group, is providing EUR10mn in financing to Tunisian date processing company VACPA, part of an effort to preserve jobs, especially for women, amid the COVID-19 pandemic.The company, the country’s largest exporter of dates, …

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Inside Capital Partners announces fifth investment

23 June 2020

In line with its vision to better manage the environment and support the socio-economic uplifting of the Region where it operates, Inside Equity Fund has committed to invest US$2.75mn in Alpha to finance the doubling of its waste collection and processing…

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IFC Invests in Globaltronics to Help Expand, Improve Energy Efficiency in Egypt

21 June 2020

IFC, a member of the World Bank Group, is investing up to US$10mn in a local Egyptian company to help it expand installation of digital prepaid and smart electricity meters in Egyptian homes. The investment will support government energy reforms to improv…

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IFC Provides Loan to Nigeria’s Zenith Bank to Support SMEs, Address Challenges Related to COVID-19

16 June 2020

IFC, a member of the World Bank Group, today announced a loan of up to US$100mn in Nigeria’s Zenith Bank Plc to help it increase support to clients and companies whose cash flows have been disrupted by challenges caused by the COVID-19 pandemic.IFC’s loa…

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CDC Group signs partnership memorandum with Rwanda Finance for the Development of the Kigali International Financial Center

16 June 2020

New financial center designed to support inward investment into Africa CDC to play key advisory role in creating new legal framework for financial hub CDC Group, the UK’s development finance institution and impact investor, today signed a pa…

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AVCA featured in Africa Global Funds (Subsription Content)

16 June 2020

AVCA's Head of Research & Training, Enitan Obasanjo-Adeleye discusses the findings of AVCA's research on climate change, the implications of climate change on Africa's PE ecosystem and the role African PE can play in reducing the risks of climate chan…

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The PPE of Overseas Development Assistance

16 June 2020

Written by 'Tokunboh Ishmael, Managing Partner, Alitheia IDF To see the original article, please click here Politics, Philosophy and Economics of ODA in a time of COVID-19 In these unprecedented times, development assistance must shed the skin of its…

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Sanlam launches urgent job-preservation initiative in response to COVID-19

10 June 2020

Sanlam Investments is responding to the COVID-19 pandemic through large-scale support of the recovery of South African companies, from small enterprises to corporates that employ a large number of people. Sanlam has committed R2.25bn of its own capital to…

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FMO increases support for Miro Forestry on World Environment Day

05 June 2020

On World Environment Day, FMO proudly presents its recent transaction with Miro Forestry, one of the largest forestry plantations in West-Africa. With this financing, Miro will expand its planted area, and set-up its plywood and pole production facilit…

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IFC commits up to US$30mn to AfricInvest Fund IV

04 June 2020

IFC, a member of the World Bank Group, has invested up to US$30mn in AfricInvest Fund IV. Read more.

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AfricInvest recieves US$30mn commitment from U.S. International Development Finance Corporation

04 June 2020

Projects support developing countries reeling from COVID-19 and include first transactions using equity and technical assistance The U.S. International Development Finance Corporation (DFC) Board of Directors has approved US$1bn of investments that will …

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EIB approves debt investment of US$10mn into the InsuResilience Investment Fund

02 June 2020

EIB approves debt investment of US$10mn into the InsuResilience Investment Fund managed by Blue Orchard. Read more

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Àrgentil’s follow-on investment in Tempohousing Nigeria Limited

02 June 2020

Àrgentil Capital Partners (“Àrgentil”) has provided additional debt and equity investment to support its portfolio company, Tempohousing Nigeria Limited (“THN”) which specialises in developing flexible and affordable residential and commercial spaces usin…

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CDC Group announces co-investment in mPharma under Venture Scale-Up Programme

01 June 2020

The deal is one of the first investments under CDC’s Venture Scale-up Programme  mPharma aims to dramatically reduce the cost of essential medicines in Africa, making quality healthcare affordable and accessible to all consumers in Africa  To …

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Swedfund supports healthcare actors in Nigeria, Madagascar and India with Covid-19 related emergency response

26 May 2020

The pressure on healthcare facilities is greatly increasing in developing countries as the Covid-19 virus spreads. Based on long experience of working with sustainable investments in developing countries Swedfund supports different actors in the healthcar…

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​Swedfund supports SMEs in East Africa with EUR5mn

22 May 2020

In order to support small and medium-sized companies following the Covid-19 outbreak the Swedish Development Finance Institution, Swedfund, now increases the liquidity available to these companies by lending 5 million EUR to Platcorp, a financial institut…

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Flourish Ventures leads Series A round in Apollo Agriculture

21 May 2020

Africa’s agricultural output is much lower than its potential. Africa has a quarter of the world’s agricultural land but produces less than a tenth of its food. In comparison, China has 10% of the agricultural land and produces 20% of the world’s food sup…

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RENEW Make Follow-on Investment in Ethiopia’s #1 Online Food Delivery Company

21 May 2020

RENEW and the Impact Angel Network Make Follow-on Investment in Ethiopia’s #1 Online Food Delivery Company in Response to Spike in Demand Due to COVID-19 Members of RENEW's Impact Angel Network (IAN) have funded a third investment in Roadrunner Technol…

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FMO collaborates with COFINA, one of the few home grown microfinance groups in Africa

18 May 2020

The loan strengthens FMO’s presence among financial institutions in francophone Africa, increasing access to finance for MSMEs FMO is pleased to announce the recent closing of multiple transactions to microfinance group Compagnie Financiere Africaine (CO…

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Alitheia IDF receives US$10mn commitment from the Soros Economic Development Fund (SEDF)

08 May 2020

The Open Society Economic Justice Program, via its impact investing arm, the Soros Economic Development Fund (SEDF), has committed $15 million to two women-led investment funds that advance economic and gender equity. These investments—US$10mn in Alithei…

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Proparco invests US$20mn in SPE AIF I fund to support SMEs in North Africa

30 April 2020

Through a US$20mn equity investment in the SPE AIF I investment fund, Proparco supports SMEs undergoing periods of strong growth or transition, in the industrial, health and education sectors in Egypt, Morocco and Tunisia. SPE AIF I is a private equi…

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Impact Investing: Profit with Purpose

10 April 2020

Written by 'Tokunboh Ishmael, Managing Partner, Alitheia IDF Impact Investing seeped into the conscience of the investing ecosystem over a decade ago and refers to the varying degrees that investments can deliver positive social, developmental, econom…

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DEG invests US$40mn into agricultural commodity trader and supply chain manager ETC Group

03 April 2020

DEG has announced its investment of US$40mn into Kenyan agricultural commodity trader and supply chain manager ETC Group. To find out more, please click here.

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CrossBoundary Energy receives US$16.5mn commitment from ARCH EM Partners

19 March 2020

Funding enables the ongoing expansion of CrossBoundary Energy’s Commercial & Industrial solar services and is first stage of larger transaction to scale solar for businesses across Africa CrossBoundary Energy is currently operating or delivering mo…

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The African Development Bank’s Facility for Energy Inclusion attracts US$160mn in commitments for small-scale renewable energy

16 March 2020

The African Development Bank, the European Commission, KfW, the Clean Technology Fund, Norfund, and other investors have committed nearly $160 million to the first close of the Facility for Energy Inclusion or FEI. FEI is a targeted $400 million fund to …

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The African Development Bank enters the capital of the investment fund Yeelen Financial Fund LP

12 March 2020

The Board of Directors of the African Development Bank approved, Thursday, March 11 in Abidjan, a stake of EUR12mn in the capital of the Yeelen fund dedicated to the financial sector. Yeelen Financial Fund LP is a 12-year investment fund domiciled in Mau…

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CDC announces US$39.2 million investment to bolster access to finance for SMEs in West Africa

20 January 2020

CDC Group, the UK’s publicly owned impact investor, has announced the commitment of US$39.2 million to support SMEs in West Africa. CDC is backing Verod Fund III and Adiwale Fund I, West-African based private equity funds targeting SMEs in the region, wit…

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DOB Equity awarded impact investor and transition to new leadership

19 December 2019

DOB Equity wins the award for impact investment firm 2019 Leadership change as CEO Brigit van Dijk – van de Reijt will hand over her responsibilities to her colleagues Saskia van der Mast, Hayo Afman and Toine Huijbers per January 1st, 2020 DOB Eq…

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DOB Equity invests in NEI, the leading natural vanilla flavour manufacturer in Tanzania

06 December 2019

Natural Extract Industries provides additional income to 5000+  smallholder farmers while encouraging forest growth  from planting vanilla Growth in consumers with a conscious fuels push for high-quality natural products, farm-to-fork traceability and …

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Member Announcement - Capria Ventures 8th Investment Cycle is Open!

28 November 2019

Capria understands the problems faced by fund managers in emerging markets and works in deep partnership to solve roadblocks like fundraising and finding & developing a successful deal pipeline for investments. Capria is a global impact investing fir…

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TPG Growth's Rise Fund Invests in Uganda's Pearl Dairy

07 November 2019

The Rise Fund is partnering with Pearl Dairy, a market-leading dairy processing company based in Uganda, to help expand and enhance its operations The Rise Fund, a global impact investment fund managed by TPG that is committed to achieving positive socia…

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DOB Equity invests in Nairobi-based technology learning accelerator Moringa School

28 October 2019

Moringa School is developing the next generation of tech leaders through market-driven education With a rising population, youth unemployment is one of the biggest challenges facing Kenya and Africa at large The investment in Moringa School will hel…

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Climate-smart private equity investors take leadership in Africa

15 October 2019

Climate change poses an existential threat to our societies. Nowhere is this more apparent than in Africa – the most vulnerable continent to climate change, both in terms of impact and ability to mitigate damage... read more.

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Oikocredit signs KES1bn Equity Investment in Credit Bank

29 August 2019

Nairobi, Kenya – Credit Bank PLC has signed a KES 1bn equity investment with social impact investor Oikocredit today. The investment, which is subject to regulatory approvals, will see Oikocredit take a minority stake in Credit Bank Credit Bank int…

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DOB Equity expands agri portfolio with investment in leading Kenyan laboratory services company Cropnuts

24 July 2019

Investment into Cropnuts – a leading Kenyan soil & crops testing and agri services company for East Africa Cropnuts will reach over 500,000 farmers by 2023, increasing crop yields and food security across Africa DOB Equity, a leading Dutch famil…

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AHL Venture Partners leads an equity investment in Kenyan company Crop Nutrition Laboratory Services Limited

17 July 2019

AHL Venture Partners, a leading impact investment firm in East Africa, has today announced, acting as lead investor, an equity investment in a Kenyan company, Crop Nutrition Laboratory Services Limited (“Cropnuts”). The investment is a co-investment with …

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Axis launches investment platform, MIFGA

24 May 2019

Axis and Innpact have launched the first impact investing platform in Mauritius, the Mauritius Impact Finance Gateway to Africa (MIFGA). This innovative structure enables fund promoters to set-up and manage impact finance vehicles in an efficient and cost…

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DOB Equity invests in East African waste management sector

24 May 2019

Investment in Zanrec Ltd – a leading privately owned waste management company focusing on the hospitality sector on Zanzibar DOB’s first investment in a sector which is in need of long-term capital and innovation along the value chain, with a focus on …

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LeapFrog breaks impact investing record, with US$700mn emerging markets fund

10 May 2019

LeapFrog Investments has announced the largest-ever private equity fund by a dedicated impact fund manager, surging past its US$600mn target to reach US$700mn. The new fund invests in healthcare and financial services companies – tapping into the demand f…

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DOB Equity expands FMCG exposure by investment in drinking water provider Jibu Tanzania

07 May 2019

Jibu Tanzania is part of the Jibu Global network, a social venture founded in 2012 and active in 5 African countries DOB Equity’s investment in Jibu Tanzania aims for the rapid expansion of a replicable distribution model in major cities across T…

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Building Prospects: enabling high impact for people

09 April 2019

New name and mandate for the Infrastructure Development Fund (IDF) The Dutch Ministry of Foreign Affairs renewed the mandate of FMO’s Infrastructure Development Fund (IDF) and topped the fund with EUR 100 mn.  A new strategy has been formulated as part o…

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CDC appoints Stephen Priestley as new Managing Director, Funds and Capital Partnerships

28 January 2019

CDC, the UK’s development financial institution, has today announced the appointment of Stephen Priestley as its new Managing Director, Funds and Capital Partnerships. Stephen starts his new role on 28 January and will report directly to Chief Executive N…

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FMO Launches Global Forestry Program to Mitigate Climate Change with West African and SE Asian Investments

11 December 2018

The Hague, December 11 2018 –  Dutch Development Bank FMO has launched a global forestry investment programme, the most effective tool in the fight to mitigate the process of global climate change, with the initial extension of US$20mn in financing to pla…

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DOB Equity continues rapid expansion of health conscious agri portfolio with investment in Kentaste

10 December 2018

Investment into Kentaste – the leading coconut processing company in Kenya Substantial environmental and social impact through small-holder farmer support programs  DOB Equity, a leading Dutch family-backed impact investor in East Africa, has invest…

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Impact investor DOB Equity expands their agri portfolio to include Kenyan macadamia processing company

23 November 2018

Investment into Ten Senses Africa – a leading organic and fair-trade macadamia processing company in Kenya Strong social and environmental impact through extensive farmer support along value chain and zero-waste processing DOB Equity, a leading Dut…

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AfDB approves US$15mn equity investment in Africa Food Security Fund to boost agri-business in Africa

13 June 2018

In an effort to boost agri-business and enhance food security in Africa, the African Development Bank Board has approved a US$15mn equity investment in Africa Food Security Fund (AFSF or "The Fund"), to support enterprises in agri-business SMEs and enhanc…

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The Rise Fund leads US$47.5mn Series C for Cellulant, leading African digital payments provider

14 May 2018

San Francisco, Nairobi & Lagos – May 14th, 2018– The Rise Fund, a global impact investing fund managed by growth equity platform TPG Growth, today announced that it has signed an agreement to acquire a stake in Cellulant, a leading digital payments pr…

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DOB Equity makes first impact investment in Rwanda by investing in quality grain trader Sarura Commodities

19 April 2018

DOB Equity diversifies portfolio – now present in all five East African countries Sarura Commodities links quality grain farmers with local off-takers Provides training and expertise to increase both quality and volumes for the local market DOB Eq…

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Round-Up: Inaugural AVCA ESG Practitioners' Roundtable

23 November 2017

Following the inaugural AVCA ESG Practitioners' Roundtable which took place on Monday 16th October 2017, led by the AVCA Sustainability Committee, we are pleased to announce the formation of an industry initiative to drive the adoption of Environmental, S…

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FMO signs MOU to increase funds for energy sector

24 October 2017

FMO, the Dutch Development Bank and Shell Foundation, a registered charity in the United Kingdom, signed a Memorandum of Understanding (MOU) to join forces on increasing the flow of funds for impact finance in the energy sector. They agreed to a broad coo…

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CDC Group: Investing to transform lives

06 July 2017

In February, AVCA spoke to Clarisa De Franco, Head of Africa Funds, and Jeremy Cleaver, Portfolio Director, about CDC Group’s investment strategy over the next five years and the importance of development finance to Africa’s growth. We asked them to sha…

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New AVCA Video: Building A Sustainable Future for Africa - Our Common Purpose

04 April 2017

Tuesday, 4th April 2017: The African Private Equity and Venture Capital Association (AVCA) today presented a short animated film illustrating the wide-reaching impact of private equity investment in Africa. Launched on Day One of the 14th Annual AVCA Con…

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Uganda’s Sindila hydropower project, led by Metier, commences construction

21 February 2017

The shareholders of the Sindila hydropower project are pleased to announce that the 5.25MW run of river project achieved financial close on 30 January 2017 and has commenced construction. The project benefits from a 20-year power purchase agreement with t…

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Alitheia Identity secures additional funding from US-based investor and accelerator, Capria

29 June 2016

Alitheia Identity Managers (Alitheia Identity) announced a partnership with Capria Ventures (Capria), a global impact investment firm that works with local fund managers to accelerate the flow of capital in emerging markets. Female entrepreneurs, women-le…

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LeapFrog invests in Ghana’s UT Life

27 January 2016

LeapFrog Investments (“LeapFrog”), a specialist investor in emerging markets on Wednesday announced that LeapFrog has acquired a majority stake in UT Life Insurance Company Ltd (“UT Life”), one of the key players in the life insurance sector in Ghana. Thi…

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LeapFrog launches US$350mn investment partnership

21 January 2016

Prudential Financial, Inc. (NYSE: PRU) and LeapFrog Investments announced today the launch of a US$350 million investment partnership to access high-growth markets in Africa. Managed by LeapFrog, the new investment vehicle will target investments in life …

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IFC invests in Hygeia Nigeria Limited

07 January 2016

Lagos, Nigeria, January 7, 2016 – IFC, a member of the World Bank Group; together with IFHA-II Cooperatief, a private equity fund focused on investing in the healthcare sector in Sub-Saharan Africa; Swiss Re, the reinsurance company; and CIEL Healthcare A…

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Investisseurs & Partenaires completes Tincy Boulangerie investment

18 December 2015

The fund I&P Afrique Entrepreneurs (IPAE) welcomes a new company in its portfolio by partnering with the bakery Tincy, based in Benin. IPAE follows an active investment pace in Sub-Saharan Africa with six field offices based on the continent, in West …

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LeapFrog Investments receives US$200m commitment

10 December 2015

LeapFrog Investments is set to receive up to US$200m from the Overseas Private Investment Corporation, the OPIC Board of Directors announced today. This is the largest commitment in history to any impact fund manager. It also brings commitments to LeapFro…

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Injaro invests in Mali’s Seed Sector

10 September 2015

Bamako, Mali, September 10 2015: Injaro Agricultural Capital Holdings Limited (“IACHL”), the impact investment fund managed by Injaro Investments, announces its second investment in Mali’s agricultural sector. IACHL has signed an agreement to invest in Co…

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LeapFrog invests US$25mn in AFB Mauritius Limited

26 February 2015

LeapFrog Investments is investing US$25m in AFB Mauritius Limited (“afb”). afb is a disruptive financial technology platform that offers life-changing financial tools to financially-excluded consumers and small businesses in sub-Saharan Africa.  afb partn…

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