2020

CDC, FMO, Norfund et al. back Greenlight Planet

22 September 2020

NAIROBI, Kenya--(BUSINESS WIRE)--Greenlight Planet Inc., the largest provider of solar-powered home energy products in sub-Saharan Africa and South Asia, has secured $90 million in new funding to expand its Pay-As-You-Go (PAYG) solar consumer financing bu…

Read more »

Helios backs Africa Specialty Risk Group

16 September 2020

Helios Investment Partners (“Helios” or the “Firm”) is pleased to announce the launch of Africa Specialty Risk Group (“ASR”) in partnership with Mikir Shah, former CEO of AXA Africa Specialty Risks, and Bryan Howett, former CEO of Old Mutual’s pan-African…

Read more »

Helios leads Thunes Series B financing round

08 September 2020

Singapore/London, 8 September 2020 - Fintech startup Thunes, which operates a global B2B cross-border payments network, continues to attract investment as emerging markets take off. The latest Series B funding round sees Africa-focused Helios Investment…

Read more »

LeapFrog's BIMA raises $30mn

07 September 2020

BIMA secures $30m to drive mass adoption of digital health and insurtech solutions in emerging markets  New investments from CreditEase, Allianz X and LeapFrog will drive product innovation and deepening footprint in Africa and Asia.  Company will buil…

Read more »

FMO backs third-generation fund

07 September 2020

FMO has signed a $10mn commitment to XSML's latest private equity fund. XSML was co-founded by two former FMO employees and today manages two private equity funds in Central Africa: the Central Africa SME Fund and African Rivers Fund I. Both funds are…

Read more »

Swedfund backs PE fund

03 September 2020

Today Swedfund announces an investment of USD 10m in African Rivers Fund 3 (ARF 3), together with IFC (International Finance Corporation), the Dutch development bank FMO, BIO (Belgian Investment Company for Developing Countries) and DGGF (Dutch Good Growt…

Read more »

Amethis portfolio acquires Mabiotech

01 September 2020

Best Health is a Moroccan specialist in the distribution and instalment of medical equipment for hospitals and clinics in Morocco and Tunisia, and portfolio company of Amethis Maghreb Fund I. In July 2020, the Group finalized the acquisition of Mabiotech,…

Read more »

Metier backs Broadreach Energy

01 September 2020

Metier, through its most recent Sustainable Capital Fund, has made a substantial investment into Broadreach Energy in a landmark renewable energy sector transaction.The transaction is centred around Broadreach Energy’s existing commercial, industrial and …

Read more »

Bowmans and Udo Udoma & Belo-Osagie enter into an alliance to better serve clients across Africa

01 September 2020

Leading African law firms, Bowmans and Udo Udoma & Belo-Osagie (UUBO), have announced that they are taking a major step forward in collaborating to support clients across the continent. From 1 September 2020, Bowmans and UUBO have entered into a form…

Read more »

Proparco backs Solarise Africa

31 August 2020

Energy Access Ventures (EAV) is pleased to announce a follow-on investment in Solarise Africa, a pan-African clean energy and energy efficiency leasing company. The round was led by French development finance institution, Proparco, which invested the USD …

Read more »

CDC in Miro Forestry follow-on deal

28 August 2020

CDC Group, the UK’s publicly owned impact investor, has announced a further US $12 million commitment to Miro Forestry, a sustainable forestry and timber business with plantations in Ghana and Sierra Leone. This fundraising round, which includes participa…

Read more »

Alitheia in SparkMeter deal

25 August 2020

SparkMeter, a provider of grid management services, equipment, and software solutions that increase access to reliable electricity in underserved communities across Africa, Asia and the Americas, announced today the closing of an $12 million Series A fina…

Read more »

DEG invests in Ghana’s financial sector

20 August 2020

Long-term financing totalling USD 85 million arranged for First National Bank Ghana Many developing countries are suffering from the economic consequences of the COVID-19 pandemic. As a result, small and medium-sized enterprises (SMEs) in particular are …

Read more »

Helios appoints Director of ESG

18 August 2020

Helios Investment Partners is pleased to announce the appointment of Phil Davis as Director of Environmental, Social & Governance (ESG). Phil is a leader in his field with over 14 years of experience, most recently as Head of Sustainability, EMEA at T…

Read more »

PE-backed IHS Towers exploring IPO

14 August 2020

IHS Holding Limited (“IHS Towers” or “IHS”) today announced that it is exploring a potential registered initial public offering in the United States. The timing, number of shares to be offered and price range of the proposed offering have not yet been det…

Read more »

Sahel appoints principal

14 August 2020

Sahel Capital, fund manager for the Fund for Agricultural Finance in Nigeria (“FAFIN”), is pleased to announce the appointment of Mr. Deji Adebusoye to the role of Principal with Sahel Capital Agribusiness Managers Limited. Deji joined Sahel Capital in 2…

Read more »

Helios portfolio expands into Senegal

12 August 2020

Helios Investment Partners's portfolio Helios Towers , the independent telecommunications infrastructure company, has signed an agreement with Free Senegal – the second largest mobile operator in Senegal backed by a consortium of investors including NJJ, …

Read more »

FMO backs Paymob

11 August 2020

The Egyptian digital payment provider Paymob founded by Islam Shawky, Alain El Hajj and Mostafa El Menessy, announced that it has raised US$3.5 million investment standing on its tremendous market positioning and performance. Led by Global Ventures and th…

Read more »

Verod completes acquisition of AXA Mansard Pensions Limited

11 August 2020

Verod Capital Management Limited (“Verod” or “Verod Capital”) today announced the completion of the acquisition of 100% of AXA Mansard Pensions Limited (“the Company”), a licensed pension fund administrator that offers retirement savings accounts and pens…

Read more »

CDC appoints Coverage Director for Egypt

10 August 2020

CDC Group, the UK’s impact investor and development finance institution, has today announced the appointment of Sherine Shohdy as its new Coverage Director for Egypt. In this new role, Sherine will focus on building more partnerships with local businesses…

Read more »

Proparco backs Kenya Nut

07 August 2020

PROPARCO is supporting Kenya Nut Company with a USD 18.7m loan. This family-run business has diversified its activity and has been operating in the nut sector (macadamia and cashew nuts) in Kenya for over 40 years. This thriving business sources from over…

Read more »

Ninety One in Benin deal

03 August 2020

Private Infrastructure Development Group (PIDG) company, the Emerging Africa Infrastructure Fund (EAIF), has announced that it is progressing its due diligence as the sole lender to a €36 million, 25MW natural gas-fuelled power station project, to be buil…

Read more »

African Infrastructure Investment Managers (AIIM) appoints new joint-MDs

03 August 2020

African Infrastructure Investment Managers (AIIM), a member of Old Mutual Alternative Investments and Africa’s most experienced infrastructure manager, has appointed two joint-managing directors to be based in Cape Town and Lagos, following the retirement…

Read more »

Africa Foresight Group receives seed funding

01 August 2020

Africa Foresight Group (AFG), the first and largest network of freelance management consultants in Africa, announced today that they have raised over $700,000 in a seed round, led by Consonance Investment Managers and GFH Holdings. Consonance Investment …

Read more »

FMO commits US$10mn into Eco.business II Sub Fund

29 July 2020

FMO has approved the commitment of US$10mn into Eco.business II Sub-Fund (EBF II). To find out more, please click here.

Read more »

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…

Read more »

CDC backed Feronia Inc sells stake in PHC

20 July 2020

Today it was announced that Feronia Inc, the Canadian stock market listed agribusiness in which CDC has a 41 per cent stake, had agreed to sell its equity interest in Plantations et Huileries du Congo (“PHC”) to KKM, a long-term shareholder in Feronia. PH…

Read more »

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…

Read more »

IFC’s US$12mn Loan for Steel Plant in Ghana to Create Jobs, Support Skills

16 July 2020

IFC, a member of the World Bank Group, today announced a US$12mn loan to Rider Iron and Steel Ghana Limited to support the company’s construction of a steel manufacturing plant that will increase Ghana’s domestic steel production, creating thousands of di…

Read more »

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…

Read more »

Wale Odusanya joins Verod as a Vice President on the Investment Team

13 July 2020

Verod Capital Management Limited (“Verod”), a leading West African private equity firm, today announced the hiring of Wale Odusanya as a Vice President in its Lagos office and a Senior Deal Maker on its Investment Team. Wale joins Verod from Stanbic IB…

Read more »

Yanish Bondahjagalu joins Verod as Chief Funds Operations Officer

13 July 2020

Verod Capital Management Limited (“Verod”) is pleased to announce the appointment of Yanish Bondahjagalu as Chief Funds Operations Officer for the Group. Yanish is based in Verod’s Mauritius Office and is responsible for operating Verod’s funds in a…

Read more »

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…

Read more »

Proposed strategic transaction between Helios Holdings Limited and Fairfax Africa Holdings Corporation

10 July 2020

Transformational transaction creating the premier pan Africa-focused alternative investment manager – Helios Fairfax Partners Corporation Helios Fairfax Partners Corporation to become the leading pan-Africa focused listed alternative asset manager with…

Read more »

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…

Read more »

Ninety One managed EAIF Anchors Sonatel's XOF100bn Bond Issue

07 July 2020

Private Infrastructure Development Group (PIDG) company, the Emerging Africa Infrastructure Fund (EAIF/the Fund) is to invest up to XOF*29.5bn (US$50mn equivalent) in a bond issue that aims to raise XOF100bn (US$170mn) for investment in the Senegal busine…

Read more »

CDC Group commits US$100mn into Helios Investors IV

07 July 2020

Establishes stronger partnership with premier African private equity manager and presents an opportunity to collaborate on co-investment opportunities Supports efforts to mobilise capital to African businesses and continued investment in companies acro…

Read more »

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…

Read more »

Leapfrog acquires 24% of ICEA LION Insurance Holdings Limited

02 July 2020

LeapFrog Strategic Africa Investments (LSAI) are pleased to announce that they have entered into an agreement with ICEA LION Insurance Holdings Limited (ICEA LION Holdings) which, subject to various regulatory approvals and other conditions precedent, wil…

Read more »

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…

Read more »

CDC Group commits US$50mn to AfricInvest Fund IV

02 July 2020

CDC Group and Finnfund today announce a US$70mn commitment to AfricInvest Fund IV, a generalist pan-African fund aiming to foster the growth of African enterprises across the continent. CDC, the UK’s impact investor and development finance institution, co…

Read more »

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…

Read more »

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.…

Read more »

IFC approves US$25mn investment into Lorax II fund

26 June 2020

IFC approves US$25mn investment into Lorax II fund. To read more, please click here.  -END-

Read more »

DEG subscribes to bond issued by Helios Towers

25 June 2020

A large number of companies issue bonds as a source of financing, giving them access to national and international capital markets. The outbreak of the COVID-19 pandemic brought the issue of new corporate bonds, particularly by issuers from emerging marke…

Read more »

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…

Read more »

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, …

Read more »

EAIF ANCHORS SUCCESSFUL BOND ISSUE BY AFRICAN TELECOMMUNICATIONS BUSINESS, HELIOS TOWERS

23 June 2020

The success of the HTA bond issue demonstrates the value of the EAIF/PIDG business model in African economic development,” says EAIF fund managers  The Emerging Africa Infrastructure Fund (EAIF), which is part of the Private Infrastructure Development Gr…

Read more »

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…

Read more »

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…

Read more »

Proparco co-invests in the development of the first green mall in Central Africa

18 June 2020

Like many cities in Sub-Saharan Africa, Douala, the economic capital of Cameroon (4 million inhabitants), is experiencing rapid population growth, especially among the middle class, and a strong urban transformation. Changes in consumer habits and the i…

Read more »

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…

Read more »

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…

Read more »

CDC Group appoints new Head of Business Integrity

12 June 2020

CDC Group, the UK’s impact investor and development finance institution, has today announced the appointment of Alexandra Maddy as its new Head of Business Integrity. In this role Alexandra will be responsible for enhancing investees’ business integrity s…

Read more »

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…

Read more »

Proparco co-invests in Ethiopian FMCG Platform

08 June 2020

This operation is Proparco's first mezzanine transaction in Ethiopia and will support job creation, the development of local agribusiness, import substitution and economic growth in the country. Proparco and Ethos Mezzanine Partners have announced a …

Read more »

Ninety One launches South Africa Recovery Fund with Ethos Private Equity

08 June 2020

Firms see the investment community as having a key role to play in post-COVID economic recoveryJSE- and LSE-listed investment manager Ninety One has launched an impact investment initiative – the Ninety One SA Recovery Fund, in association with Ethos Priv…

Read more »

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…

Read more »

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.

Read more »

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 …

Read more »

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

Read more »

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…

Read more »

Bowmans expands into Malawi and Zambia

01 June 2020

The current COVID-19 pandemic sweeping the globe is not stopping leading African law firm, Bowmans, from moving forward. Less than a year after it announced it was opening a new office in Mauritius and entering into an alliance with Assefa & Associat…

Read more »

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 …

Read more »

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…

Read more »

​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…

Read more »

Pearl Capital Partners Invests UGX 4.6bn in NASECO

22 May 2020

Pearl Capital Partners, which manages the Yield Uganda Investment Fund, has made a seventh investment of UGX 4.6bn (ca. US$ 1.2m) in Naseco (1996) Limited (NASECO). NASECO, which has had operations for over 20 years, produces, processes and distributes ce…

Read more »

Mediterrania Capital Partners acquires MetaMed

22 May 2020

Malta. Mediterrania Capital Partners, the Private Equity firm focused on growth investments for SMEs and mid-cap companies in North and Sub-Saharan Africa, announces the acquisition of MetaMed, the largest platform of Diagnostic Imaging centres in Egypt, …

Read more »

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…

Read more »

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…

Read more »

DPI announces a US$56m investment into leading Tunisian tomato processing and agri-business, SICAM

21 May 2020

DPI completes its second investment from African Development Partners III (“ADP III”) SICAM represents ADP III’s first investment in Tunisia, and one of the largest Private Equity transactions ever undertaken in the country Tunisia is the largest cons…

Read more »

Actis exits GHL Bank

20 May 2020

Actis, a leading investor of private capital into global emerging markets, announced today that it has exited its majority stake in GHL Bank, a full-scale commercial bank in Ghana, to First National Bank Ghana, a 100% subsidiary of FirstRand Group. Actis …

Read more »

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…

Read more »

Cepheus Growth Capital Investment in Lion Brands

18 May 2020

Cepheus Growth Capital Partners (“Cepheus Capital”) is pleased to announce an investment into East African Lion Brands Manufacturing Share Company (“Lion Brands”), one of Ethiopia’s leading domestic manufacturers of fast moving consumer goods (“FMCG”) pro…

Read more »

Ninety One sells portion of private equity investment in Kamoso Africa

14 May 2020

Alongside Rand Merchant Bank Ventures (“RMBV”) and other shareholders, Ninety One, via its Africa Private Equity Fund 2 (“91APEF2”), has sold a portion of its equity investment in Kamoso Africa (“Kamoso”) to the Botswana Development Corporation (“BDC”).  …

Read more »

Convergence Partners completes 100% acquisition of Vodacom's Africa operations

11 May 2020

Convergence Partners announced that its pan- African digital service provider platform, inq. Holdings Limited (formerly Synergy Communications), has completed the 100% acquisition of Vodacom Business Africa’s operations in Nigeria, Zambia and Cote d’Ivoir…

Read more »

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…

Read more »

African Development Bank welcomes US$10mn Clean Technology Fund investment to diversify Ethiopia’s energy mix

08 May 2020

The African Development Bank has welcomed a decision by the Trust Fund Committee of the Clean Technology Fund (CTF(link is external)), one of two funds within the Climate Investment Funds (CIF), to extend a US$10mn concessional senior loan for the develop…

Read more »

Emerging Capital Partner’s Mukuru makes acquisition

05 May 2020

ECP portfolio company Mukuru​, an international money operator and remittance company, has acquired​Zoona​ Malawi’s operational assets along with the technology systems that support its Malawian operations. Zoona, which has worked with Mukuru for four yea…

Read more »

African Infrastructure Investment Managers (AIIM) completes the exit of its flagship pan-African infrastructure fund’s (AIIF2) interests in South African renewable energy projects

05 May 2020

African Infrastructure Investment Managers (AIIM), one of Africa’s largest and most experienced infrastructure-focused private equity fund managers, announces the successful divestment of AIIF2’s 14% stake in Cookhouse, a 139MW wind farm, and 34% stake in…

Read more »

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…

Read more »

Àrgentil Capital Partners backs the development of COVID-19 Mobile Testing Laboratories in Nigeria 

29 April 2020

Àrgentil Capital Partners (“Àrgentil”) is providing support to a number of initiatives to help with the healthcare emergency created by the COVID-19 pandemic. This has seen us provide financial resources to pay for a full complement of medical staff at on…

Read more »

TLcom Invests US$1mn Pre-Seed Funding into Okra

27 April 2020

Nigerian fintech platform Okra has secured a US$1mn pre-seed fundraise from TLcom Capital, strengthening its push to build the infrastructure for Africa’s next wave of fintech innovation. With the first API in Africa to retrieve real-time financial data f…

Read more »

Standard Bank takes 40% stake in Payment24

24 April 2020

Standard Bank has acquired a 40% stake in the digital fuel management solutions and telematics company Payment24 Group. Payment24 Group is a technology development firm that supports companies with large fleets. Launched just over five years ago to fill …

Read more »

Norfund, DEG and Partners acquire South African Agriculturual Solutions Provider

22 April 2020

Phatisa Food Fund 2 (PFF 2) and a group of co-investors – Norfund, Mbuyu Capital and DEG – have acquired integrated agricultural solutions provider Farming and Engineering Services Limited (FES). The investment will support FES’s long term growth strategy…

Read more »

Mediterrania Capital Partners reaches EUR286 million final closing for Mediterrania Capital III, its third fund for Africa

21 April 2020

Mediterrania Capital Partners, the Private Equity firm focused on growth investments for SMEs and mid-cap companies in North and Sub-Saharan Africa announces it has reached a EUR286 million final closing for its third fund for Africa, Mediterrania Capital…

Read more »

Lifeline for small COVID-19 affected entrepreneurs in Africa and EU Neighbourhood

21 April 2020

NASIRA financial program receives EUR25 million top-up from the European Fund for Sustainable Development The European Commission together with FMO, the Dutch entrepreneurial development bank, scaled up the NASIRA financial guarantee to support small COV…

Read more »

DEG financing for supermarkets in Kenya

20 April 2020

Equity capital for local firm Naivas DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH is investing in a leading Kenyan supermarket chain. Naivas Limited (“Naivas”) operates more than 60 stores in Kenya, of which half are in the Greater Nairo…

Read more »

DEG finances production of organic macadamia nuts from Kenya

17 April 2020

In the fertile soil region of Embu on the slopes of Mount Kenya, northeast of Nairobi, German-Kenyan company Limbua produces organic macadamia nuts of the highest quality. In the next two years, the company is planning to double its annual throughput for…

Read more »

IFC Invests in Private Equity Fund to Boost Growth in MENA Amid Economic Disruption

13 April 2020

IFC, a member of the World Bank Group, is investing up to US$20mn into a newly independent, institutionalized private equity fund manager operating in MENA, to help small and mid-cap companies in the region improve their access to institutional capital an…

Read more »

African Development Bank Group approves US$10mn equity in Razorite Healthcare Fund for Africa

10 April 2020

The Board of Directors of the African Development Bank has approved a US$10mn equity investment in Razorite Healthcare Africa Fund 1 (RHAF1) to help improve healthcare infrastructure delivery across the continent. The 10-year deal, approved on 26 Februar…

Read more »

Proparco and SPE AIF I acquire Saham Pharma

10 April 2020

SPE Capital Partners (“SPE Capital”) is pleased to announce the acquisition of Saham Pharma (“Saham Pharma”), a leading antibiotics manufacturer and major hospital provider in Morocco, alongside Proparco as a minority investor. The acquisition constitutes…

Read more »

African Development Bank Group unveils US$10 bn Response Facility to curb COVID-19

08 April 2020

The African Development Bank Group on Wednesday announced the creation of the COVID-19 Response Facility to assist regional member countries in fighting the pandemic. The Facility is the latest measure taken by the Bank to respond to the pandemic and wil…

Read more »

Kibo Capital Partners acquires a majority stake in Transcom

06 April 2020

Kibo Capital Partners is proud to announce that it has acquired a majority stake in a tertiary education group, Transcom S.A. This marks Kibo’s eleventh and final deal from its second fund. The capital will go towards the construction of a new campus ena…

Read more »

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.

Read more »

Adenia sells leading paint and coatings manufacturer in Mauritius

01 April 2020

Adenia is pleased to announce that it has finalized the sale of the 95% equity stake held by Adenia Capital (III) in Mauvilac to AkzoNobel, the third largest paint manufacturer worldwide. Mauvilac is the leading paint and coatings manufacturer in Mauritiu…

Read more »

IFC invests US$2.5mn in New Crystal to Bring Affordable, High-Quality Healthcare to Ghanaians

01 April 2020

IFC, a member of the World Bank Group, today announced a US$2.5mn investment in New Crystal to support the expansion of the private healthcare group, which provides high-quality medical services to lower-middle-income and low-income patients and families …

Read more »

FMO Commits US$25mn to DPI ADP III Fund

30 March 2020

FMO has committed US$25mn into DPI's African Development Partners III fund. To read more, please click here.

Read more »

African Development Bank approves US$8.25 mn loan to food producer Olivine Industries

27 March 2020

The Board of Directors of the African Development Bank Group has approved a US$8.25 mn corporate loan to Olivine Industries Limited to support the company’s food production expansion plan in Zimbabwe. The Bank’s loan, approved on Wednesday, will enable t…

Read more »

Emerging Africa Infrastructure Fund Adopts IFC Master Cooperation Agreement

26 March 2020

The Emerging Africa Infrastructure Fund (EAIF) today became the 34th development finance institution to join IFC’s Master Cooperation Agreement, making it easier for the two institutions to collaborate on expanding private sector investments in African an…

Read more »

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…

Read more »

Tembo Power partners with Metier for the financing and construction of its first Kenyan hydropower plant

18 March 2020

Tembo Power and Metier have signed a Joint Development Agreement to bring the Kaptis hydropower project in Kenya through to financial close and construction in 2020 Tembo Power has signed a Joint Development Agreement with Metier, an independently owned …

Read more »

AfricInvest partners with I&M Bank (Rwanda) Plc

17 March 2020

AfricInvest, a leading Pan-African private equity platform, is pleased to announce that its AfricInvest Financial Inclusion Vehicle (FIVE) has acquired a minority shareholding in I&M Bank (Rwanda) Plc (the Bank) through AfricInvest Evergreen Investmen…

Read more »

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 …

Read more »

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…

Read more »

ECP announces portfolio company Eranove signs EUR303mn financial agreement

11 March 2020

Emerging Capital Partners (ECP) announces that portfolio company Eranove has signed a financing agreement for a 390 MW combined cycle power plant in Côte d’Ivoire. Eranove, the Pan-African utilities group, signed the EUR303mn financing agreement with Inte…

Read more »

EAIF’s €36mn loan to the new Atinkou power station in Côte d’Ivoire is boost for growing economy

06 March 2020

The financing of a new 390MW natural gas-fired power plant for Côte d’Ivoire was announced this week. EAIF has contributed EUR36mn to a EUR303mn financing packaging, which was arranged by the International Finance Corporation (IFC), to build the new Atink…

Read more »

Fintech TerraPay raises $9.6 million from IFC and Partech

03 March 2020

TerraPay announced today that a consortium of investors, including Prime Ventures, Partech Africa and management acquired the company for an undisclosed sum. In addition, the same investors, joined by IFC, invested US$9.6 mn in TerraPay to fund the compan…

Read more »

Verod backed Tangerine acquires ARM Life Plc

02 March 2020

Tangerine Life Insurance Limited (“Tangerine Life”), supported by leading West-African private equity firm Verod Capital Management Limited  (“Verod”), today announced its acquisition of a majority stake in ARM Life Insurance Plc (“ARM Life”). The acquisi…

Read more »

Amethis acquires a minority stake in the Naivas group, the Kenyan leading retailer.

27 February 2020

Amethis, alongside its partners DEG, MCB Equity Fund and IFC, a member of the World Bank Group, is pleased to announce its partnership with Naivas. The transaction marks the acquisition of a minority equity stake into the Naivas Group. Naivas is the lead…

Read more »

Mediterrania Capital Partners appoints Rajaa Berrkia as Director of Sustainability

27 February 2020

Mediterrania Capital Partners appoints Rajaa Berrkia as Director of Sustainability  Mediterrania Capital Partners, the Private Equity firm focused on growth investments for SMEs and mid-cap companies in North and Sub-Saharan Africa announces the appoin…

Read more »

Mediterrania Capital Partners’ portfolio EBITDA grows 25% YOY

24 February 2020

Mediterrania Capital Partners, the Private Equity firm focused on growth investments for SMEs and mid-cap companies in North and Sub-Saharan Africa, announces that its portfolio companies managed by MC II and MC III funds achieved 25% EBITDA year-on-year …

Read more »

Agri-Vie exits stake in Intelichem

20 February 2020

Agri-Vie Fund I, the Africa Food and Agribusiness Investment Fund managed by the pan-African private equity investment firm, EXEO Capital, has announced its exit from InteliChem, a leading provider of crop protection solutions, specialised plant nutrition…

Read more »

Mediterrania Capital Partners is granted the EU’s AIFM Licence by the Malta Financial Services Authority

19 February 2020

Mediterrania Capital Partners, the Private Equity firm focused on growth investments for SMEs and mid-cap companies in North and Sub-Saharan Africa, announces that it has been granted an AIFM (Alternative Investment Fund Manager) Licence under the Directi…

Read more »

Ascent acquires leading manufacturer of construction materials

17 February 2020

Metro Plastics Kenya has 36 years’ experience in fittings and pipes manufacturing Ascent has previously invested in Auto Springs East Africa based in Limuru and Kisumu Concrete Products a leading Western Kenya-based concrete products maker Ascent Ri…

Read more »

IFC invests US$125mn into Humania

17 February 2020

IFC, a member of the World Bank Group, is the lead arranger for an Islamic financing package of up to US$125 million to Humania, a private healthcare company, to help expand health services and improve medical care in Morocco and Egypt.IFC will provide Hu…

Read more »

FMO invests US$2.8mn into Acumen's Pioneer Energy Investment Initiative

17 February 2020

FMO recently invested US$ 2.8mn into Acumen’s Pioneer Energy Investment Initiative (PEII), surpassing the PEII’s goal of raising US$20mn to bridge the funding gap in off-grid energy and accelerate energy access across the developing world. With the PEII,…

Read more »

EAIF lends EUR28mn to Azito Energie Power Plant

11 February 2020

The Emerging Africa Infrastructure Fund (EAIF), a member of the Private Infrastructure Development Group (PIDG), is lending EUR28 million to a EUR330 million expansion of the Azito Energie gas-fired power station in Côte D’Ivoire. Known as Azito 4, the ad…

Read more »

Partech leds US$2mn Seed Round Investment in Gebeya inc.

06 February 2020

Encouraging further development of the African tech scene, the online software outsourcing Marketplace company Gebeya have secured a $2 Million dollar seed round investment co-led by Partech and Orange Digital Ventures and followed by Consonance Investmen…

Read more »

Kibo portfolio company produces first fully recycled packaging product in Kenya

06 February 2020

Kibo Capital Partners (KCP) today announced that its portfolio company Blowplast Limited (Blowplast), in partnership with Unilever and recycling company Mr Green Africa, has produced Kenya’s first fully recycled packaging solution. The packaging, produced…

Read more »

AIIF3 two-thirds invested

05 February 2020

African Infrastructure Investment Managers (AIIM), one of Africa’s largest infrastructure-focused private equity fund managers and a member of Old Mutual Alternative Investments, has revealed that two-thirds of its AIIF3 fund is already committed to a div…

Read more »

IFC Supports Sustainable Agriculture in Morocco’s Farming Sector through its Partnership with Zalar Agri

24 January 2020

IFC, a member of the World Bank Group, is providing US$24mn in financing, including a US$12mn C loan for IFC’s own account and a mobilization of a US$12mn B loan through IFC’s syndication program, to Zalar Agri, one of Morocco’s leading fruit producers, a…

Read more »

IFC partners with Habesha Breweries to Increase Local Barley Sourcing

23 January 2020

IFC, a member of the World Bank Group, today announced an investment of up to EUR050mn in Habesha Breweries S.C. to help the company expand operations in Ethiopia and increase local barley sourcing from smallholder farmers.The loan is co-funded by the Dut…

Read more »

Acorn dual-lists green bond program on LSE's International Securities Market

20 January 2020

Acorn Holdings Ltd., the largest Purpose-Built Student Accommodation property developer in Kenya, has dual-listed its KES 4.3 billion green bond program on the International Securities Market of the London Stock Exchange. The medium-term note (MTN) progra…

Read more »

FSD Africa Announces US$3.3mn investment

20 January 2020

At the UK-Africa Investment Summit, FSD Africa Investments has today announced US$3.2 million in investments into MFS Africa and Frontclear, two leading companies transforming Africa’s financial sector. MFS Africa, a leading pan-African fintech company o…

Read more »

UK’s impact investor invests to support entrepreneurs in North Africa

20 January 2020

CDC Group plc (“CDC”), the UK’s development finance institution and impact investor, has announced a EUR25mn commitment to Mediterrania Capital Partners III (MCP III), a generalist fund primarily targeting investments in North Africa. North Africa is hom…

Read more »

CDC Group invests US$20mn in Metier Sustainable Capital II Fund

20 January 2020

CDC Group, the UK’s development finance institution and impact investor, has made a US$20mn commitment to the Metier Sustainable Capital II fund. The South African private equity fund will provide growth capital to renewables and resource efficiency proj…

Read more »

CDC Group makes US$15mn commitment to TLcom’s TIDE Africa Fund

20 January 2020

CDC Group, the UK’s development finance institution and impact investor, has committed US$15mn to TLcom’s TIDE Africa Fund to support early-stage high-growth start-ups across sub-Saharan Africa (SSA). With a presence in the key financial hubs of Lagos an…

Read more »

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…

Read more »

Actis signs an MOU with The Sovereign Fund of Egypt for strategic cooperation on future investment opportunities in Egypt

20 January 2020

The Sovereign Fund of Egypt (TSFE) and Actis, a UK based leading emerging markets investor, have signed an MOU relating to strategic cooperation across multiple sectors in Egypt. The signing took place during the UK-Africa Investment Summit witnessed by D…

Read more »

Proparco Invests in Rensource

17 January 2020

With the support of the European Union (EU), PROPARCO invests US$3mn equity in RENSOURCE (Holdings), a key player in the renewable energy sector in Nigeria. This is the first investment made by Proparco in partnership with the EU under the Africa Renewa…

Read more »

VerifyMe Nigeria secures Series A financing from Consonance Investment Managers

17 January 2020

VerifyMe Nigeria, an ID verification and KYC technology company, announced today it has secured a Series A financing for an undisclosed amount from Consonance Investment Managers. The funds will be used to expand strategic partnerships and bring new digi…

Read more »

AIIM invests in Nigerian gas assets, Accugas and Seven Uquo Gas Limited

16 January 2020

African Infrastructure Investment Managers (AIIM) has acquired minority interests in gas assets in Nigeria majority-owned by Savannah Petroleum Plc. This comprises a 20% stake in  Seven Uquo Gas Limited, the entity that holds a 40% participating interest …

Read more »

Proparco commits US$10mn into Metier Sustainable Capital International Fund II

15 January 2020

Through a US$10mn commitment to Metier Sustainable Capital International Fund II, Proparco will continue its support of renewable energy, resource efficiency and energy efficiency projects in Africa. South Africa-based investment manager Meti…

Read more »

AfricInvest Partners with Masria Digital Payments

14 January 2020

AfricInvest, a leading Pan-African private equity platform, is pleased to announce its new partnership with Masria Digital Payment (“MDP” or “the Company”) through its Maghreb Private Equity Fund IV. Established in 2003 as Masria Card S.A.E, MDP is the l…

Read more »

IFC To Help Tunisian Start-Up Accelerators Boost Entrepreneurs, Create Jobs

14 January 2020

IFC, a member of the World Bank Group, is signing memoranda of understanding (MoUs) with two Tunisian start-up accelerators today to help unlock the potential of innovative entrepreneurship in the country, with a focus on women-led start-ups and creating …

Read more »

B-Corp status for leading pan-African PE firm Helios Investment Partners

13 January 2020

Helios Investment Partners becomes the largest emerging markets-focused PE firm globally to receive B Corp certification B Corp status recognizes the firm’s long-standing commitment to sustainability and responsible business practices The B Corp cer…

Read more »

African Development Bank approves US$20mn investment into Metier Sustainable Capital International Fund II

07 January 2020

The Board of Directors of the African Development Bank has approved a US$20mn investment in the Metier Sustainable Capital International Fund II, which channels funds to renewable energy and resource-efficient infrastructure projects across Sub-Saharan Af…

Read more »

AfricInvest Exits Polymedic to NBK Capital Partners

06 January 2020

AfricInvest, a leading pan-African private equity platform, is pleased to announce that its Maghreb Private Equity Fund III (MPEF III) has exited from its investment in Polymedic, a leading generics manufacturing company headquartered in Casablanca, Moroc…

Read more »

FMO approves US$5.8mn into Greenlight Planet

20 December 2019

FMO has approved a US$5.8mn equity investment into Greenlight Planet's Building Prospects fund.  To find out more, please click here. -END-

Read more »

FMO commits US$15mn to Metier Sustainable Capital Fund II

20 December 2019

FMO has approved a US$15mn equity investment into the Metier Sustainable Capital Fund II. To find out more, please click here.

Read more »

CDC concludes its pioneering six decade long partnership with DFCU bank

19 December 2019

CDC Group, the UK’s development finance institution, has today announced its decision to sell its remaining 9.97% stake in DFCU Limited (“DFCU”). The shareholding is being sold to IFU, the Danish development finance institution. CDC made its first inves…

Read more »

Metier Sustainable Capital Fund II (MSC II) first closing at US$113mn

16 December 2019

Metier has received US$113mn in commitments and has called the first close of its second Sustainable Capital Fund, MSC II. The fund will strengthen renewable energy, energy efficiency, water and waste management investments in sub-Saharan Africa. “MSC II…

Read more »

@fDiIntelligence: The resilience of investment in Africa’s technology sector mirrors the growth of the African tec… https://t.co/TJ8CGqK9qn

AVCA Member News: CDC, FMO, Norfund et al. back Greenlight Planet Read more: https://t.co/CmZZUf3ZlG

AVCA 2020 Focus Series! Join our panel of experts on 30th September for the last part of our AVCA 2020 Focus Serie… https://t.co/SiyMStL0YU

AVCA Member News: Helios backs Africa Specialty Risk Group Read more: https://t.co/HUnj55qqHQ

Industry event: CAMA and the Private Equity Industry PEVCA and ǼLEX are jointly organising a Webinar on Thursday,… https://t.co/V14xzt1hXE