SAVCA 2017 Case Study Compendium

Funds

Launches

Africa Global Funds: Newly launched African funds

Impact Investment Trust eyes LSE listing

Impact Investment Trust, an investment company offering exposure to a portfolio of funds investing for impact in developing countries, is planning to raise up to $150m via an IPO on the London Stock Exchange.

Kuramo and Nile launch new investment firm

Kuramo Capital Management and Nile Capital Management have announced a strategic partnership to launch a new investment management entity called Kuramo Nile Capital Management (Kuramo Nile).

Sanlam InfraSec Infrastructure Fund launched

Sanlam and Africa Infrastructure Securities (InfraSec) have launched the Sanlam InfraSec Infrastructure Fund, a US dollar-denominated fund that will invest in infrastructure projects with an emphasis on economic growth, social upliftment and energy.

Enko Africa Debt Fund launched with $200m AUM

Enko Capital has unveiled the Enko Africa Debt Fund (EADF) to invest solely in fixed income securities issued by corporates and sovereigns, denominated in local and hard currencies across Africa.

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Market & Industry News

Africa Global Funds: Latest African market and industry news

Brainworks to list on the JSE

Brainworks, a Mauritian-based holding company with a diversified Zimbabwean investment portfolio, has made its submission to the JSE for its listing on the main board.

Ivory Coast launches Eurobond

Ivory Coast has issued Eurobonds with two tranches: a dollar-denominated 16-year $1.25bn offering at 6.250%, and an eight-year euro-denominated tranche worth €625m, yielding 5.125%.

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Investors

Africa Global Funds: Latest news on institutional investors in the African region

IFC and Proparco invest in Moroccan green bond

IFC and Proparco, have invested €100m and €35m, respectively, in the first green bond issuance by Banque Centrale Populaire (BCP), to promote sustainable, environment friendly projects in Morocco.

IFC backs Medical Credit Fund with $4.5m

IFC, a member of the World Bank Group, has invested $4.5m in the Medical Credit Fund (MCF), part of the PharmAccess Group, to increase access to quality healthcare in Africa.

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Private Equity

Deals

Africa Global Funds: Latest news about mergers and aquisitions in Africa

LeapFrog and Omidyar in Cignifi deal

LeapFrog Investments has acquired an undisclosed stake in Cignifi, a big data platform that aims to extend financial inclusion to one billion emerging consumers.

EAIF backs Senegal power station expansion

The Emerging Africa Infrastructure Fund (EAIF) has provided a €6.6m financing to Melec PowerGen (Matelec Group), the owner and operator of the Tobene power station in Senegal.

ABO Capital in CEPI deal

ABO Capital, an international investment firm headquartered in Angola, has purchased Complexo Escolar Privado Internacional, the Turkish school in Benfica, a neighbourhood in the Samba district, south of Luanda.

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Exits

Africa Global Funds: Latest African divestment news

Metier exits Inhep and Astrapak

South African private equity firm Metier has partially exited its investment in plastic products manufacturer Astrapak and has agreed to exit Inhep Electronics Holdings (Inhep).

Qalaa's subsidiaries exit ASEC Ciment Algérie

Qalaa Holdings has announced that its subsidiaries ASEC Cement and ASEC Cement Djelfa Offshore have completed the sale of 100% of ASEC Ciment Algérie (AACC) to an Algerian investor at a deal value equivalent to $60m.

Investec exits SA Taxi

Investec Asset Management has exited from its mezzanine investment in SA Taxi, the first financial services provider to focus solely on the taxi industry in South Africa.

Actis fully exits Edita via IPO

Actis has sold its remaining 7.5% stake in Edita Food Industries (Edita) to 42 blue-chip international investors from the USA, UK, Germany, South Africa, and the UAE.

AfricInvest and Mediterrania exit SJL to Investec

AfricInvest and Mediterrania Capital Partners (MCP) have sold their stakes in Grupo San Jose & Lopez (SJL), a logistics and international road freight transport company with operations in the Maghreb and Europe.

Centum exits KWA after 40 years

Centum has sold its 26.43% stake in KWA Holding East Africa (KWA), one of the foremost manufacturers and distributors of spirits and wines in Kenya, to Distell International Holdings, a subsidiary of Distell Group.

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Fundraising

Africa Global Funds: Latest African fundraising news

TLcom raises $40m for TIDE Africa

TIDE Africa, an international venture capital fund focused exclusively on technology enabled solutions and innovation serving Sub-Saharan Africa (SSA), has reached its first close of $40m of the $100m target.

AfDB, CDC, DGGF invest $31m in FAFIN

The African Development Bank, CDC Group, and the Dutch Good Growth Fund have jointly committed $31m to the Fund for Agricultural Finance in Nigeria (FAFIN).

Adenia Capital (IV) closed above target

Adenia Partners, a private equity fund manager focused on mid-cap buyouts and growth capital investments in Sub-Saharan Africa, has reached the final closing of Adenia Capital (IV).

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PE Industry News

Africa Global Funds: Latest African private equity news

East African pension funds to invest more in PE

The East African region is witnessing a change in momentum post 2016, where more East Africa based pension funds have begun to put money in local GPs, Eva Warigia, Executive Director of EAVCA, has said.

African M&A activity drops

In Africa, M&A activity has dropped since the last quarter results, but there are still massive opportunities for M&A investment on the continent, according to Baker McKenzie.

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Asset Servicing

Africa Global Funds: Latest news on asset servicing in the African region

Consumer data can improve investment decisions

Combining top down data such as GDP with bottom up data such as consumer confidence can yield to better investment decisions in Africa, according to a whitepaper report by KASI Insight.

Exotix rebrands and creates RAD division

Exotix, a frontier and emerging markets investment firm, has created a Research, Analytics & Data (RAD) division to expand and enhance the insights and services it provides to clients.

Alexander Forbes acquires majority stake in AAC

Alexander Forbes Group Holdings has acquired a significant stake in African Actuarial Consultants (AAC), one of the largest independent actuarial consultancies based in Zimbabwe with a growing presence in the region.

Capital Appreciation acquires Synthesis

Synthesis Software Technologies, a specialised financial technology company that provides software development, consulting and integration services to financial institutions, has been acquired by JSE-listed Capital Appreciation.

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People Moves

Africa Global Funds: Latest news on people moves in the African region

The MasterCard Foundation appoints new members to its Board

The MasterCard Foundation has appointed three new members to its Board of Directors.

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Free magazine copy

Africa Global Funds magazine: November 2016 issue free download

Enjoy a FREE copy of our November 2016 magazine issue

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Testimonials

I find AGF’s content to be well-written, interesting and highly informative. AGF is able to attract leading figures in the African fund market for exclusive insights and opinion articles that are difficult to find elsewhere.


Augentius

Joe Greenwell
Business Development Director - Augentius

Finding the news behind the news has always been the challenge, but Anna and her team always seem to pull it off. The AGF website, e-newsletter and monthly magazine are read by the whole Phatisa team; well-written, African private equity news not found elsewhere. We are proud to be affiliated with such a young, ambitious and driven media team and wish them only the best.

Phatisa

Stuart Bradley
Joint Managing Partner - Phatisa

We find AGF a very useful publication, especially covering, as it does, all asset classes in Africa (as, uniquely, does Investec Asset Management). The public funds data and macro stats are very useful, while the articles and interviews are insightful and often cover (in relative terms) neglected markets and asset classes.

Investec Asset Management

Nick Tims
Managing Director

I have found the AGF monthly magazine very informative and always containing some interesting research on the Private Equity industry not found elsewhere.

Harith: Financiers and developers of infrastructure projects

Emile Du Toit
Head: PAIDF 2

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