2023

Swedfund invests US$26mn in the African infrastructure fund AIIF4

03 February 2023

On December 16, Swedfund invested USD 26 million in African Infrastructure Investment Fund 4 (AIIF4). It is an African infrastructure fund, managed by Africa Infrastructure Investment Managers (AIIM). AIIF4's mandate covers both energy infrastructure, su…

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AfricInvest Fund IV invests in Justrite

25 January 2023

AfricInvest is pleased to announce it has taken a minority stake in Justrite, a leading Nigerian family owned retail department store. The company provides everyday essentials, such as groceries, confectionaries, and clothing to consumers in largely unde…

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Aruwa makes follow-on investment in AgroEknor

18 January 2023

Aruwa Capital Management, an early-stage growth equity and gender lens fund investing in Nigeria and Ghana has made a follow-on investment in AgroEknor International, a fast-growing hibiscus flower exporter and wellness brand. In November 2021, Aruwa mad…

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Norfund and Swedfund invest in South Sudan's SME sector

13 January 2023

European development finance institutions Norfund and Swedfund have announced a $4 million follow-on loan to Kinyeti Venture Capital, a joint venture established in 2012 to provide risk capital to local small and medium enterprises (SMEs) in South Sudan.K…

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Verod exits Daystar Power Group to Shell

12 January 2023

Verod Capital Management via its Verod Capital Growth Fund II has fully exited from its investment in Daystar Power Group to Shell. Daniel Adeoye, Senior Vice President/Head of Investments at Verod, said: “We are pleased to have had this deeply beneficia…

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FMO approves €25 million investment in Partech fund

11 January 2023

The Dutch entrepreneurial development bank, FMO has approved a €25 million investment in the Partech Africa Fund Il. FMO has approved a commitment to Partech Partners‘ second Africa fund, joining a group of other development finance institutions that hav…

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AfricInvest exits InstaDeep Ltd to BioNTech SE

11 January 2023

Acquisition to enable creation of a fully integrated, enterprise-wide capability to discover, design and develop next-generation immunotherapies at scale by leveraging artificial intelligence and machine learning technologies across BioNTech’s therapeut…

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FMO provides funding for motorcycle financing in Kenya and Uganda

06 January 2023

Dutch development finance institution FMO has provided a US$15 million and US$5 million senior term loan to Wat Credit Kenya and Wat Credit Uganda, respectively. Watu Credit Uganda Limited (‘Watu’) is a micro-lending company providing pay as you go finan…

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EIB commits €300m to EM fund-of- funds

03 January 2023

The European Investment Bank has disclosed a €300 million contribution to the launch of the new Global Gateway Fund (GGF). GGF is a flagship initiative supporting the EU's Global Gateway strategy, operating as a fund-of-funds focused on high impact equity…

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Oiko credit, Lion's Head funds back Solarise Africa

03 January 2023

Dutch impact investor Oikocredit has partnered with Lion's Head Group-managed funds, the Facility for Energy Inclusion (FEI) and AfricaGoGreen (AGG), to invest $7 million in a $33.4 million multi-currency loan facility for Solarise Africa. The investment …

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Seedstars Africa Ventures et al. invest in Egypt's Suplyd

26 December 2022

Suplyd, an Egypt-based startup that digitises supply chain operations for the MENA region’s hotels, restaurants, and catering (HORECA) industries, has raised a US$1.6 million pre-seed funding round to help it scale faster. Founded by Gohar Said, Karim Se…

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