AfricInvest III, a fund managed by AfricInvest Group has completed a €17.3m equity investment in Azalaï Hotels, the holding company of one of the main Pan-African hospitality groups in the ECOWAS region.
Nigerian fintech startup Paystack has raised $1.3m in seed funding from Tencent, Comcast Ventures, Singularity Investments and other international investors.
Actis has fully exited its remaining 14.3% stake in Uganda’s principal electricity distribution and supply business, Umeme via the Ugandan and Kenyan capital markets.
Alta Semper Capital, a consumer and healthcare focussed private equity investor, alongside CI Capital Partners, an Egypt-focused private equity investor, have partnered through the MEA Healthcare Partners platform with Macro Holding, a consumer healthcare company in Egypt.
DOB Equity, a Dutch family office, AHL Venture Partners, an impact-focused venture capital firm in Africa, and private investors have backed PowerGen Renewable Energy by injecting $4.5m in a Series A investment round.
Oando, Nigeria’s indigenous energy group listed on both the Nigerian and Johannesburg Stock Exchange, has announced the completion of a partial divestment of 49% of the voting rights in Oando’s midstream business subsidiary, Oando Gas and Power (OGP), to Glover Gas & Power B.V., a special purpose vehicle owned by Helios Investment Partners.
The African Development Bank (AfDB) is looking to raise up to $400m from DFIs, impact investors and commercial banks for a pan-African renewable energy debt fund.
Citigate International, a Dubai based financial consultancy, has announced the successful closing of Safa Afrique with $10m raised from GCC investors.
Ajinomoto has acquired a 33.33% stake in Promasidor Holdings, a major processed foods manufacturer in Africa, for $532m from Tana Africa Capital and the company’s founding partners.
Gulf Capital, one of the largest alternative investment firms in the Middle East, has reached the final close of its second private debt and mezzanine fund, Gulf Credit Opportunities Fund II, over its target cover of $250m (AED925m).
Algebra Ventures has announced the $40m first closing of its new technology venture capital fund, at the moment the largest in Egypt.
Lumos Global, a Netherlands-based off-grid solar firm operating in Nigeria, has raised $90m in a funding round from OPIC, Pembani Remgro and other investors.
The Amandi Energy consortium has reached financial close and begun construction of the $552m Amandi Energy Power Plant in Aboadze, Ghana.
DOB Equity, a Dutch family office, has invested in Countryside Dairy, at a publicly undisclosed value as part of a commitment to increase social impact investment deals in Kenya.
