Avanz Capital Egypt establishes investment holding company
Avanz Capital Egypt announced the establishment of Avanz Manara, an investment holding company. Avanz Manara supports the growth of small and medium enterprises (SMEs) in Egypt and is designed to help Egyptian banks meet the Central Bank of Egypt’s requirement to provide financing to Egyptian SMEs.
Source: Africa PE News
Katapult, 216 Capital, Launch Africa in smart energy deal
Tunisian smart energy company Wattnow has closed a $1.3 million pre-series A investment round from investors including the Norwegian climate impact fund Katapult; 216 Capital; Launch Africa; Oman Technology Fund and CrossBoundary.
Source: Africa PE News
Tiger Brands VC fund invests in South African plant-based food company
Tiger Brands’ Venture Capital Fund has made its first investment in Herbivore Earthfoods, a Cape Town headquartered woman-founded business specialising in the manufacture and sale of plant-based and vegan products, a global market forecast to grow to over $162-billion by 2030. The African plant protein market, of which South Africa represents 57%, is estimated to grow at a compound annual growth rate (CAGR) of 6.5% to $560.62 million by 2023.
Source: Africa PE News
Competition Commission prohibits sale of Ethos-backed Neopak to Corruseal
South Africa’s Competition Commission has prohibited the proposed merger whereby Corruseal Group intends to acquire Neopak because the merger is likely to result in substantial prevention and lessening of competition.
Source: Africa PE News
Catalyst launches Egypt-focused impact fund
Catalyst Private Equity, a private equity fund manager focused on Egypt, has launched an impact investing fund called Catalyst Capital Egypt Fund (CCE). The fund has a target size of EGP1 billion ($54.6 million). The fund has achieved a first close of EGP450 million (about $24.6 million).
Source: Africa PE News
A.P. Moller Capital has acquired Thika Power, an 87 MW independent power producer located in the Kenyan capital Nairobi
A.P. Moller Capital has acquired Thika Power, an 87 MW independent power producer located in the Kenyan capital Nairobi.
Source: A.P. Moller Capital
Mozambique: Norfund, Zebu acquire a stake in frozen food importer Terramar
Norwegian Investment Fund for developing countries (Norfund) and private equity fund Zebu Investment Partners jointly invested in Terramar, a Mozambican company engaged in the importation and distribution of frozen foods and consumer products.
Source: Eco Fin Agency
Françoise Lombard appointed Chief Executive Officer of Proparco
Françoise Lombard was appointed Chief Executive Officer of Proparco by the Board of Directors on 25 March 2022. She joined Agence française de développement Group in 2016 as Chief Financial Officer and became a member of the Executive Committee on 1 January 2018.
Source: Proparco Groupe AFD
Proparco, IFC, African and European Partners launch alliance to support private sector growth in Africa
To support a stronger private sector, entrepreneurship and the growth of small and medium-sized businesses across Africa, African, European, multilateral and bilateral partners today launched the Alliance for Entrepreneurship in Africa (AforE).
Source: Proparco Groupe AFD
Biovac and Development Partners Collaborate to Support South Africa’s Vaccine Manufacturing Expansion and Advance Long-Term Health Security Across Africa
To support South Africa and the African continent increase vaccine manufacturing capacity and reduce reliance on imports, a consortium of nine development and finance institutions have today announced a partnership with Biovac in Cape Town, South Africa to support Biovac’s vaccine manufacturing expansion.
Source: AfDB
