Ascent has announced the first rolling close of its Ascent Rift Valley Fund II (ARVF II) at more than $100m, significantly exceeding its initial target of $80m.
African Infrastructure Investment Managers (AIIM), on behalf of the IDEAS Fund, and Reatile Group have agreed to acquire a 30% interest in ROMPCO (the Republic of Mozambique Pipeline Investments Company) from Sasol South Africa.
Starsight Energy, a technology-enabled African Commercial & Industrial (C&I) energy-as-a-service provider, has acquired a 50% stake in the East African operations of Premier Solar Group, a C&I solar company with a focus on Sub-Saharan Africa and South Asia.
Accion Venture Lab has led a $1.8m seed investment round in Lami Technologies, a Kenyan insurance technology (insurtech) company that aims to democratize insurance products and services for low-income Kenyans.
South African investment firms Kalon Venture Partners and Caleo Private Equity have announced a $2.5m Series A co-investment into iXperience (iX), an educational-tech company that partners with high schools, universities and corporates to provide progressive education programs and services that equip students with industry-focused skills.
Mergence Unlisted Investment Managers (Namibia) has increased its shareholding in the two Ejuva renewable energy projects in Gobabis from 17% to a majority stake of 66% having acquired the 49% previously held by co-developer and initial part-financier, CIGenCo, a subsidiary of South Africa-listed Consolidated Infrastructure Group (CIG).
The Vumela Fund, established by FNB Business and Edge Growth, have invested in Kombo King, a South African kitchen equipment supplier focusing on the fried food niche market.
Uhuru Investment Partners, a middle-market private equity firm, has announced the first close of Uhuru Growth Fund I (UGF) at $113m.
Metier has sold its 12% stake in the 50 MW Bokpoort Concentrated Solar Power (CSP) asset in the Northern Cape to Revego Africa Energy for R204m.
Adenia, a private markets investment firm in Africa, has finalized the sale of its 100% equity stake in Ademat to SPE Capital, a private equity firm focused on Africa and the Middle East.
Misr Capital, the investment arm of Banque Misr, and Elevate Private Equity have launched a $380m healthcare investment platform, Nile Misr Scan & Labs.
Newfund and ResiliAnce have led a Seed investment round of $1.2m in OKO, an Insurtech start-up that provides inclusive agricultural insurance to secure farmers’ income across Africa.
MiDA Advisors, a global transaction and financial advisory firm, and SAVCA have launched the Women Empowerment Mentoring and Incubation Fund Manager Programme (WE>MI), to increase the number of investable women fund managers in Southern Africa.
Partech Africa, a member of the Partech Group, a global technology venture capital fund, and Enza Capital have invested in the $3.6m extension round in Tugende, a technology enabled MSME lender in East Africa.
