The deal activity on the African continent remains strong with $8.1bn worth of deals completed in 2014, a new report by the African Private Equity and Venture Capital Association (AVCA) has revealed.
Enko Africa Private Equity Fund, a pan-African private equity fund managed by Enko Capital Managers, has acquired a minority stake in Madison Financial Services (MFS), an insurance-based financial services group in Zambia. Ralph Gilchrist, partner at ECM, said: “This is a landmark first investment for the Enko Africa Private Equity Fund and we are proud to enter into this long-term partnership with MFS. We are looking forward to creating value together and supporting the high growth potential of the company.”
Amethis Finance has taken a 17.1% stake in CIEL Finance, the banking and financial services arm of Mauritius-based CIEL group.
LeapFrog Investments has invested $25m in AFB Mauritius, a financial technology platform that offers financial tools to financially-excluded consumers and small businesses in Sub-Saharan Africa.
The pan-African private equity firm, 8 Miles has acquired a 42% stake in Orient Bank, a mid-tier commercial bank in Uganda, from Keystone Bank, a state-owned Nigerian bank.
Qalaa Holdings is considering an exit of remaining Egyptian food businesses to accelerate group deleveraging and de-risking.
The ARM-Harith Infrastructure Fund (ARMHIF) has raised $91m at the first close from AfDB and a number of Nigerian pension funds, according to ARM-Harith Infrastructure Investment, a joint venture between Asset & Resource Management Company (ARM) and Harith General Partners of South Africa.
Private equity and venture capital fundraising in 2014 increased year-over-year in Sub-Saharan Africa, according to EMPEA, the global industry association for private capital in emerging markets.
Nedbank Capital, the investment banking business of the Nedbank Group, has concluded a private equity transaction for a 32,9% stake in the GloCell Group.
The Ascent Rift Valley Fund (ARVF), managed by Ascent Capital Africa, has made its inaugural investment in Medpharm Holdings Africa, a leading medical diagnostic laboratory with operations in Ethiopia and expansion ambitions in the Greater East Africa region.
One Thousand & One Voices (1K1V), a private family capital fund focused on Sub-Saharan Africa, has made its first investment in the South African agribusiness sector via its $300m One Thousand & One Voices Africa Fund I.
The African Agriculture Fund (AAF), managed by Phatisa, has invested in General Plastics, a manufacturer of packaging products servicing food, beverage and agro-chemical sectors in Kenya and the broader East Africa region.
AfricInvest, The Abraaj Group and Swedfund, will sell their 37.3% collective stake in UAP Holdings to Old Mutual Holdings, a wholly-owned subsidiary of Old Mutual, for KES 14.2bn ($155.5m).
STANLIB, a South African multi-specialist investment company, has reached a final close of its first private equity infrastructure fund, raising R1.2bn ($104.8m) in total commitments.
