LeapFrog Strategic Africa Investments (LSAI) has agreed to acquire a 24% stake in ICEA LION Insurance Holdings (ICEA LION Holdings).
The Emerging Africa Infrastructure Fund (EAIF), Private Infrastructure Development Group (PIDG) company, has agreed to invest up to XOF*29.5bn (circa $50m) in a bond issue that aims to raise XOF100bn ($170m) for investment in the Senegal business of Sonatel S.A, a West African telecommunications company.
The SDG Frontier Fund has reached its first closing at €25.3m with the participation of nine Belgian private investors together with BIO, the Belgian Investment Company for Developing Countries.
Acumen, a non-profit impact investment fund, has exited its stake in a Tanzanian-based clean cooking company KopaGas, following Circle Gas acquisition.
Norsad Finance, an impact investor providing structured financing solutions to mid-market growth companies in Southern Africa, has provided a R150m medium-term facility to Grobank, a South African specialised commercial agricultural bank.
OP Finnfund Global Impact Fund I has raised €76m in the first round of funding, attracting various institutional investors.
Inside Equity Fund has committed to invest $2.75m in Alpha to finance the doubling of its waste collection and processing capacity in Zambia.
Inspired Evolution’s Evolution II Fund in partnership with the company’s management, has closed a buyout of Building Energy’s Africa and Middle East business to launch the newly branded Red Rocket.
Partech and Sawari Ventures have invested $4m in a Series A investment round in Egyptian fintech platform MoneyFellows as it works towards helping millions of new users reach their financial goals.
HAVAIC, a Cape Town based venture capital investment firm, has invested in Mobiz, a South African mobile marketing platform.
ARCH Emerging Markets Partners’ Africa Renewable Power Fund (ARPF) has invested $3m in Sun Exhange, a technology and solar finance innovator across Africa, marking the close of its $4m Series-A funding round.
Sanlam Investments has committed R2.25bn of its own capital to seed three funds with the core objective of preserving and creating jobs ̶ in a drive to mobilise further capital from like-minded investors set on re-igniting economic growth.
Futuregrowth Asset Management via its Futuregrowth Development Equity Fund (DEF) has invested in LifeCheq, a South African digitised holistic personal finance business that aims to make expert advice accessible to professionals and entrepreneurs who are currently not served well by the existing financial advice industry.
Mergence Investment Managers and Third Way Investment Partners have invested R225m each to refinance a major renewable energy plant in a remote area of South Africa.
