December Industry News

07 Dec 2022

A collection of news across the African private equity and venture capital industry |

A collection of news across the African private equity and venture capital industry |

Admaius invests in Céréalis

Admaius Capital Partners via a subsidiary of the Virunga Africa Fund 1, it has made a significant investment in Power Brands, the parent company of Céréalis, Tunisia’s producer of salted snacks and a significant producer of baked goods.

Source:Africa Global Funds


AIIF4 invests in Kenya’s Road Annuity Programme

AIIM, Africa’s largest dedicated infrastructure private equity manager, has committed to invest $34m into Kenya’s Road Annuity Programme through its pan-African AIIF4 Fund.

Source: Africa Global Funds


Enza Capital, Oikocredit and Partech Africa co-invest in Djamo

Enza Capital, Oikocredit and Partech Africa have co-led a $14m equity investment round in Djamo, a Y Combinator-backed fintech building the leading personal finance company in Francophone Africa.

Source: Africa Global Funds


FEI leads US$33.4mn investment in Solarise Africa

The Facility for Energy Inclusion (FEI) has signed its first transaction in the commercial and industrial solar market, acting as lead arranger for a $33.4m multi-country facility for Solarise Africa’s subsidiaries in Africa.

Source: Africa Global Funds


Flexcap and others back Ramani

Global technology investors Flexcap Ventures and revered founder/CEO of Infoscout, Jared Schreiber, have led a $32m series A round of equity & debt in Ramani, an African software company.

Source: Africa Global Funds

 

Norsad Capital invests US$10mn in CABS Zimbabwe

Norsad Capital has provided Central Africa Building Society (CABS) Zimbabwe, a member of the Old Mutual Group, a $10m medium-term credit facility to support the bank’s growth strategy.

Source: Africa Global Funds


ROX acquires SilverBridge

ROX Equity Partners, a UK based private equity company, has acquired SilverBridge, a South African financial services technology provider

Source: Africa Global Funds


uMunthu II targets €150mn

Goodwell Investments has launched uMunthu II, aiming to raise €150m to finance innovative, scalable, small and medium-sized businesses that improve the access and affordability of basic goods and services for un(der)served consumers in Africa.

Source: Africa Global Funds

 

Mastercard Foundation launches Africa Growth Fund

The Mastercard Foundation Africa Growth Fund (MFAGF), a fund of funds that works through African investment vehicles to support early-stage, growth-oriented SMEs on the continent, has launched with a committed US$200 million.

Source:Disrupt Africa

 

 Mirova SunFunder co-leads US$50mn investment for d.light

The investment is structured as a balance sheet debt facility and will enable continued expansion of the company’s solar and pay-as-you-go consumer finance business in Africa and the launch of new innovative products.

Source: SunFunder

InfraCo Africa invests to scale access to clean transport in rural Zimbabwe

Harare, Zimbabwe: InfraCo Africa, part of the Private Infrastructure Development Group (PIDG), has signed an agreement committing US$2 million to scale the offering of Mobility for Africa, an electric mobility company delivering affordable, cargo-carrying e-tricycles and solar-powered battery charging solutions for underserved communities in rural Zimbabwe.

Source: InfraCo

Finnfund’s invests US$3.4mn in KaiOS

Finnfund invests 3.4 million US dollars in KaiOS Technologies, maker of KaiOS, the leading mobile operating system for smart feature phones. It has been estimated that 3.4 billion people in emerging markets do no use internet despite living in areas with mobile broadband coverage.

Source: Finnfund

Bboxx EDF secure €11mn funding

Bboxx, a super platform providing access to essential products and services, and its partner EDF, a global leader in low-carbon energies, in Togo, have secured an €11m loan from the Off Grid Energy Access Fund (“OGEF”) managed by Lion’s Head Global Partners Asset Management (“LHGPAM”),enabling them to ramp up their clean electrification delivery in Togo.

Source: LHGP

 

EG Capital announces successful anchor closing of its maiden fund

EG Capital, a growth-oriented private equity impact firm and client of IQ-EQ, has announced the anchor closing of its maiden fund, EG-Economic Empowerment Fund LP (EG-EEF), which will invest in medium-sized businesses in the food, health, education and climate resilience sectors in East Africa and Zambia.

 Source: IQEQ

 

Hydropower project in Coted'lvoire secures funding

The Singrobo-Ahouaty 44 MW hydropower project in Côted'lvoire has reached financial close, with the African Development Bank (AfDB) Group as the mandated lead arranger.

Source: Africa Private Equity News

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