Mediterrania Capital Partners, a private equity firm focusing on growth investments for SMEs, has reached a final close of Mediterrania Capital II at the planned target of €120m ($133.27m).
The AAF SME Fund, a private equity fund focused on African food production and processing, managed by Databank Agrifund Manager Limited (DAFML), has successfully closed its investment in Norish, one of the largest producers of fortified blended foods and animal feed in Ethiopia.
Convergence Partners, a specialist African investment management firm, has announced the successful final close of the Convergence Partners Communication Infrastructure Fund (CPCIF), reaching over $200m in capital commitments.
BIMA, a provider of mobile-delivered insurance in emerging markets, has raised $38.4m from LeapFrog Investments, Investment AB Kinnevik and other existing shareholders.
The Carlyle Group, a global alternative asset manager with $193bn of assets under management, has announced plans to sell its current minority stake in Export Trading Group (ETG), an African agricultural commodities supply chain manager, to the company management team/founders.
Kagiso Tiso Holdings (KTH) has acquired a substantial equity stake in Me Cure Healthcare, Nigeria’s healthcare diagnostics company.
Emerging Capital Partners (ECP) has exited la Nouvelle Societé Interafricaine d’Assurance Participations SA (NSIA) through the sale of its 26.3% equity stake to the National Bank of Canada (National Bank) and Amethis Africa Finance (Amethis Finance).
Injaro Agricultural Capital Holdings, a $50m impact investment fund managed by Injaro Investments, has made an investment in Agricare, a Ghanaian-owned animal feed producer based in Kumasi.
Steadfast partnerships in African private equity often define the difference between success and failure, according to Ethos Private Equity.
Fanisi Capital has acquired a significant minority stake in Kijenge, a Tanzanian agro-processing company, for $6m.
IFC InfraVentures, an infrastructure project development fund, and Scatec Solar, an integrated independent power producer, will develop the $55m Scatec Segou solar power project in Mali with a local developer, Africa Power 1.
Private equity in South Africa remains an attractive asset class for pension funds and other institutional investors, Erika van der Merwe, CEO of the Southern African Venture Capital and Private Equity Association (SAVCA), has said.
The IFC Middle East and North Africa (MENA) Fund has raised $125m from IFC, a member of the World Bank Group, the Arab Fund for Economic and Social Development, the Arab Investment Company and the Arab Petroleum Investment Corporation.
The Public Investment Corporation (PIC) has funded the acquisition of AFGRI Poultry and AFGRI’s Kinross Animal Feeds Mill by AFPO Consortium, a South African black economic empowerment consortium led by Matome Maponya Investments.
