ABO Capital, an international investment firm headquartered in Angola, has purchased Complexo Escolar Privado Internacional, the Turkish school in Benfica, a neighbourhood in the Samba district, south of Luanda.
The Emerging Africa Infrastructure Fund (EAIF) has signed a Participation Agreement with the IFC to provide a $16.9m B Loan, with a +16-year term, to Central Solar de Mocuba (CESOM), the private sector developer of the Mocuba solar farm in Northern Mozambique.
Caleo Capital, an international wealth and asset management business, has recently invested in and partnered with Secha Capital, a patient capital impact investment holding company that invests in established FMCG and agribusiness SMES in South Africa.
Convergence Partners, Google, IFC and Mitsui & Co. have agreed to invest up to $100m in CSquared, a broadband infrastructure company focused on building wholesale metro fibre optic networks and enabling internet access in Africa.
Mergence, a R32bn black-owned financial services group, has acquired a majority stake in Riparian, the largest independent trade commodity finance firm in South Africa, now rebranded as Mergence Commodity Finance.
Catalyst Principal Partners, an Eastern Africa focused private equity firm, has acquired through a newly established firm, Britania Foods, the business and operations of Jambo Biscuits, a biscuits manufacturer in Kenya.
Village Capital, a global venture capital firm that discovers, develops, and invests in entrepreneurs solving real-world problems, has announced a $100k investment in two African financial inclusion-focused startups.
Synergy Private Equity Fund (SPEF) has invested an undisclosed amount in Northstar Finance Services, a financial services platform providing solutions across the financial service value chain in select countries across West Africa.
Sahel Capital and CardinalStone Capital Advisers (CCA), a Nigerian private equity fund manager, have agreed to invest in Crest Agro Products, an integrated cassava processor based in Kogi State, Nigeria.
Trustco Group Holdings has secured N$1bn in capital over the last six months through various funders, with the latest being a financing facility of up to N$540m ($40m) in December 2016 with Helios Credit Partners.
Capitalworks, an independent alternative asset management firm based in South Africa, has agreed to acquire Aon’s shareholding in its African insurance brokerage and employee benefit operations in a number of countries.
The Carlyle Group has agreed to acquire a significant stake in Africa’s largest credit rating agency Global Credit Rating (GCR) from the management founders, and German development financial institution DEG.
Capital Group Private Markets, an emerging markets private equity group and part of the Capital Group Companies, has joined Wendel as significant minority shareholder in Tsebo, a Pan-African facilities services company.
Moringa SICAR, a €84m investment vehicle for agroforestry projects with high environmental and social impacts, has invested an undisclosed amount in Tolaro Global, a cashew kernels processor and exporter in Benin.
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.
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 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.
Synergy Private Equity Fund (SPEF) has invested in MSY Analytics Group (MSY), a technology driven professional services and data analytics company, focused on increasing corporate human capital productivity and organizational positioning.
NBK Capital Partners and the European Bank for Reconstruction and Development (EBRD) have invested an undisclosed sum in Kaumeya Language Schools (KLS) in Egypt to support the school in the next phase of its growth.
BHR has agreed to acquire TF Holdings from Lundin Mining Corporation, which has an indirect 30% interest in the company and an effective 24% interest in Tenke Fungurume copper/cobalt mine in the Democratic Republic of Congo.
The Emerging Africa Infrastructure Fund (EAIF) has participated in a syndicate led by the Dutch development bank, FMO, to provide a $14.7m loan to enable the construction of a 10MW solar farm in the Tororo area of Eastern Uganda.
AOG has transferred 75.1% ownership of Addax Bioenergy, its sugarcane bioethanol and renewable electricity operation in Makeni, Sierra Leone, to a group of investors led by Sunbird Bioenergy Africa (Sunbird Bioenergy group).
The Green for Growth Fund (GGF) has announced a $20m senior loan to ALEXBANK, the fund’s first deal in both Egypt and the region following its recently approved expansion into North Africa and the Middle East.
Accion Venture Lab, the early-stage investment vehicle of the financial inclusion firm Accion, with participation from Newid Capital and Hallmann Holding International Investment, have invested in South Africa-based online lending platform Lulalend.
Investec Asset Management, through its African private equity capability, has acquired a significant shareholding in Mobisol, a leading and rapidly-growing provider of off-grid solar home systems (SHS) in Africa.
Apis Partners, a private equity asset manager focused on financial services in the growth markets of Africa and Asia, has invested in the Direct Pay Online Group (DPO Group), an online payments processor in East Africa.
Adenia Partners, a private equity fund manager focused on growth opportunities and mid-cap buyouts in Sub-Saharan Africa, has announced a majority investment in Ademat, a leading business service company in Côte d’Ivoire active in the power sector.
Lucid Ventures, a venture capital company launched earlier this year, has announced its first investment by acquiring a 20% stake in Jamie Oliver's signature restaurant chain 'Jamie's Italian' in South Africa.
Development Partners International (DPI), an Africa-focused private equity firm with $1.1bn under management, has announced a $100m investment through its ADP II Fund in Atlantic Business International (ABI).
Eos Capital, a Namibian private equity fund manager that is managing the Allegrow Fund, has acquired 35% of the ordinary share capital of Fabupharm, the only pharmaceutical manufacturing plant in Namibia.
Invenfin, the venture and growth capital division of Remgro, has acquired a 30% stake in Dynamic Commodities, a South African specialist producer and exporter of a range of frozen fruit-based delicacies.
Safaricom's Spark Venture Fund has made a strategic investment in mSurvey, a global mobile-first research platform leveraging SMS and mobile messaging technology to simplify access to credible, on-demand data from the emerging world.
African Rainbow Capital (ARC), a black owned and controlled investment company that forms part of the Patrice Motsepe stable, has invested in a 29.9% share of CMB International, the listed holding company of independent investment banking and advisory firm Bravura.
BPE Partners, an Egypt based private equity firm, has partnered with Daikin Europe, a wholly-owned subsidiary of Japan-based air conditioning equipment manufacturer Daikin Industries, to establish Daikin Airconditioning Egypt.
Afinitas, an Africa focused investment company listed on the venture capital board of the Botswana Stock Exchange, has announced the proposed investment of $2.5m into Adventis Limited, a new Africa focused financial services company.
African Rainbow Capital (ARC) has bought a 27.5% stake in a specialist investment manager Colourfield Liability Solutions for an undisclosed amount, marking its fifth investment in the financial services sector.
Royal Bafokeng Holdings (RBH), a South African community-based investment company, has agreed to acquire infrastructure and energy assets from Aveng Capital Partners, for a cash consideration of R860m.
FAFIN, an agribusiness‐focused private equity fund managed by Sahel Capital, has invested an undisclosed sum in Dayntee Farms, a commercial poultry farm located in Kwara State, in the North Central region of Nigeria.
Investisseurs & Partenaires, an impact investment group dedicated to African Small and Medium Enterprises, has announced three investments with its I&P Afrique Entrepreneurs (IPAE) Fund, which entered its last year of investment.
Silvertree Internet Holdings, an operating and holding company for early and mid-stage tech businesses targeting African consumers, has invested in South African online pet food and accessory store Pet Heaven.
HAVAIC Limited Partners, the venture capital arm of HAVAIC Holdings South Africa, has invested in Digital Cabinet, a cloud solutions and digital post technology company, by way of a convertible note instrument.
Oando, Nigeria’s indigenous energy group, has announced a $210m recapitalization of its downstream operations by HV Investments II B.V., a joint venture owned by Helios Investment Partners and the Vitol Group.
WDB Investment Holdings and Grovest, South Africa’s first venture capital company, have invested in Seed Engine, an ICT accelerator that equips entrepreneurs with the skills they need to create, grow and build their businesses.
The Private Equity team at Nedbank Corporate and Investment Banking (CIB) has become a 25% shareholder in Comsol Networks, alongside existing shareholders Convergence Partners and the management team of Comsol.
PEG, an off-grid solar company in Ghana, has closed a $4.3m A-2 round, led by Energy Access Ventures, that also includes Blue Haven Initiative, as well as follow-on investment from existing investors, Investisseurs & Partenaires (I&P) and Engie Rassembleurs d’Energies.
Accel Partners, an early and growth-stage venture capital firm, powering a global community of entrepreneurs, has led a $1.7m seed financing round for Instabug, Egypt-based provider of software bug reporting tools.
Helios Investment Partners has announced the acquisition of a 60% shareholding in Telkom Kenya by Jamhuri Holdings Limited (JHL), a company owned 100% by HeIios Investors III, a fund advised by Helios Investment Partners.
Mergence Investment Managers has made its first investment into the social housing sector, reaching financial close on loans worth R25m in respect of an initial two South African residential properties.
Mediterrania Capital Partners has announced the acquisition through its second fund, Mediterrania Capital II, of a stake in MedTech Group, Morocco’s IT business system integrator incorporating solutions from corporations such as Oracle, Microsoft, NCR, Alcatel-Lucent, Cisco, EMC and IBM.
Tembo Capital, a mining-focused private equity fund group, has agreed to invest $6.6m in Strandline Resources to ensure that the firm is fully funded to advance its portfolio of high value Tanzanian mineral sands projects over the next two years.
Barnstone Education and the Schools and Education Investment Impact Fund South Africa have announced an additional investment as part of the second phase of the Prestige School project, which will fund the development and operations of six Prestige College affordable independent schools.
Africa’s largest private sector investment manager, Old Mutual Investment Group has increased its overall effective equity stake in African agriculture investment group, UFF African Agri Investments, to 49%.
Actis, an investor in growth markets across Africa, Asia and Latin America, with $6.6bn funds under management, has invested an undisclosed sum in Mundiapolis University, a private university in Morocco.
Zaad Holdings, a wholly owned subsidiary of Zeder Investments, which serves as its focused platform for operationally complimentary investments in the strategic agri-inputs sector, has acquired a 49% stake in the Farm-Ag Group.
Singularity Investments, a private investment office primarily focused on investment opportunities in Africa and North America, has invested an undisclosed sum in Sliide Airtime, a privately-held technology company with offices in Lagos and London.
Catalyst Principal Partners, an East Africa focused private equity firm, has invested in Orbit Chemical Industries, a Kenyan manufacturer providing end-to- end manufacturing production for household and personal care products, industrial chemicals and agro-chemicals.
The BDO Development Capital Fund, has invested €3m in Obelisk Group, a specialist in service provision to the telecommunications and utilities sectors, to drive further expansion in South Africa and the UK.
Singularity Investments, a Nigeria-based investment office specializing in high growth companies operating in Africa’s technology sector, has invested an undisclosed amount in Asoko Insight, a provider of corporate information on African growth markets.
IFC Asset Management Company (AMC) and IFC, a member of the World Bank Group, have invested $107m in Net1 UEPS Technologies, an innovative payment solutions and transaction processing services in Sub-Saharan Africa.
Equator Capital Partners through its ShoreCap II fund, and Progression Capital Africa via its Progression Eastern African Microfinance Equity Fund, have invested KES1.2bn ($11.87m) in Jamii Bora Bank, a commercial bank in Kenya.
Mediterrania Capital Partners, a private equity firm focusing on growth investments for SMEs in North Africa and Sub-Saharan countries, has acquired a 43% stake in Cieptal Cars, a car rental business in Algeria.
AfricInvest, a pan-African mid-cap-focused private equity firm, has announced that its Maghreb Private Equity Fund III has invested in Outsourcia Group, a Moroccan contact center and business process outsourcing (BPO) provider.
Synergy Capital Managers has announced an investment in Suburban Fiber Company, a next generation broadband company focused on delivering home content solutions to retail end customers in Abuja and Lagos.
Equator Capital Partners, a Chicago based impact fund manager, has invested in Fortis Microfinance Bank, Nigeria, representing a substantial minority position in the Bank, via its managed fund, ShoreCap II Limited.
AfricInvest, a pan-African mid-cap-focused private equity firm, has invested in Silafrica Plastics and Packaging International, an East African plastics and packaging group, via its AfricInvest Fund III.
Medu Capital, a South African private equity company focused on established medium sized owner-managed businesses, has acquired 100% ownership stakes in Universal Paints and Elite Truck Hire for a total of R450m ($29.32m).
AIIM Hydroneo, a 50/50 joint venture between African Infrastructure Investment Managers (AIIM) and Hydroneo Afrique, has announced plans to develop, finance, build and operate a number of hydroelectric power plants in Gabon.
Angola Capital Investments (ACI), an international investment firm headquartered in Angola, has invested an undisclosed amount in Sphera Bluoshen, a subsidiary of Oshen Group and part of Sphera Global Health Care.
Africa Internet Group (AIG), the parent of Jumia, an e-commerce platform in Africa, has secured more than €300m in funding from new and existing investors, including the previously announced funding commitment from AXA.
The Africa Sustainable Forestry Fund I, managed by Global Environment Fund, together with the Grantham Foundation for the Protection of the Environment, have acquired a significant minority position in Compagnie des Bois du Gabon (CBG).
Synergy Capital has invested in Africa Terminals, a spin off from DuPort Marine, a trading logistics and maritime company with over eight years’ experience operating in the Nigerian downstream segment.
Capital Alliance Private Equity IV (CAPE IV), a private equity fund managed by African Capital Alliance (ACA), has acquired a 49% stake in Continental Reinsurance (C-Re), the largest private pan-African reinsurer outside of South Africa.
AXA, a French multinational insurance and asset management group, has announced a €75m investment in Africa Internet Group (AIG), an e-commerce group in Africa, for an 8% stake of the company’s capital.
Broadreach Private Equity, in partnership with Grindrod Financial Services, have acquired an equity stake in FS-Systems, an African systems integrator providing end-to-end fire & electronic security solutions.
The West Africa Emerging Markets Growth Fund, managed by PCM Capital Partners, has invested in First Atlantic Bank Ghana, a full-scale commercial bank with over 20 years’ experience in the Ghanaian banking industry.
The Abraaj Group has acquired through its second generation North Africa Fund (ANAF II), a stake in Société d’Articles Hygiéniques (SAH), a leading producer of disposable household and personal care products for babies, women and adults in Tunisia.
Venture capital firm Nest has invested in Kenya’s Ongair, a web-based dashboard that enables businesses to engage with their customers on instant messaging platforms like WhatsApp, Messenger, Telegram and WeChat.
Duet Private Equity Group has acquired an Ivory Coast-based Societe Africaine des Produits Laitiers et Derives (SAPLED) from the Sifaoui Group through the creation of Duet Consumer Ivory Coast Holdings.
AfricInvest Fund III has acquired a significant minority interest position (over 35%) in Salvador Caetano Auto Africa, the holding company of the Group dedicated to auto distribution and retail business in Africa.
Energy Access Ventures (EAV), a Paris-based impact‐focused venture firm, has announced its $2m inaugural investment in Off-Grid Electric (OGE), an off-grid electric company providing clean, affordable solar power to homes in East Africa.
Old Mutual Private Equity (OMPE), a division within Old Mutual Alternative Investments, has acquired a 70% stake in MoreCorp, a sport, leisure and wellness business underpinned by technology with interests in golf and cycling.
Old Mutual Alternative Investments (OMAI), a boutique of Old Mutual Investment Group, has agreed to acquire the 50% of African Infrastructure Investment Managers (AIIM) that it does not already own, making it the sole shareholder of the pan-African infrastructure investment manager.
Flexpoint Ford, a Chicago-based private equity investment firm with $2.3bn under management specializing in privately negotiated investments in the financial services and healthcare industries, has backed Veling, a niche aircraft leasing company with offices in Mauritius and London.
The Abraaj Group has acquired through its second generation North Africa Fund, a majority stake in Centre de Traitement Al Kindy (Al Kindy), Casablanca’s largest private oncology clinic, and Clinique Spécialisée Menara (Menara), a leading oncology and imaging diagnostics center in Marrakech.
Synergy Private Equity Fund (SPEF) has invested an undisclosed amount in Riggs Ventures West Africa, a non-captive manufacturer of polypropylene woven sacks for packaging and transporting industrial goods in Nigeria.
Sun European Partners has said that one of its affiliates has agreed to acquire Finlays Horticulture Investments and Finlays Horticulture Holdings and its subsidiary companies from James Finlay (Finlays).
TriLinc Global Impact Fund, an impact investing fund that provides growth-stage loans and trade finance to established small and medium enterprises (SMEs) in developing economies, has recently approved $6.42m in trade finance transactions to companies in Namibia and South Africa.
Investisseurs & Partenaires (I&P), an impact investment group dedicated to African SMEs, has acquired a 35% equity stake in SCRIMAD Group, an agribusiness company located in Madagascar, via its I&P Afrique Entrepreneurs Fund.
TPG/Satya, the partnership between TPG Growth and Satya Capital focused on investment in Africa, has made its first move into Africa by acquiring a minority stake in Ecoles Yassamine, the largest private school network in Morocco.
AXA Group through AXA’s Real Estate division, has taken a 18.6% stake in the Eranove Group, a West African utility company with operations in power generation, transmission and distribution, from the Bouygues Group.
Actis, a pan-emerging market private equity investor with $7,6bn assets under management, has acquired a significant minority stake in Coricraft Group, one of South Africa’s leading home furnishings retailers.
A consortium of investors led by Amethis Finance have extended a convertible loan to Elephant Africa Holding, the holding entity of Bel Papyrus and Bel Impex, producers of tissue paper products in Nigeria.
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.
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.
The Abraaj Group has acquired a majority stake in Mouka, a mattress manufacturer in Nigeria, from previous shareholders, Actis and the founding family, with the latter retaining a minority stake in the company.
Helios Investment Partners and the Vitol Group have reached an agreement to acquire 60% of the economic rights and 51% of the voting rights in the West African downstream business of Oando, an integrated oil and gas company headquartered in Nigeria, for around $276m.
One Thousand & One Voices (1K1V), a Sub-Saharan African private equity fund, established by high net worth families across the globe, has invested an undisclosed amount in Beefmaster, a South African meat producer.
Kagiso Tiso Holdings (KTH) has acquired a 51% stake in a business service provider Servest Group (Servest) to form the largest, majority black-owned, facilities management company in Africa, in a transaction valued at about R4.5bn ($373m).
XSML, an independent private equity fund manager active in Central Africa, has invested in Ets Lejack (Lejack), a toilet paper business based in Kinshasa, DRC, through the Central Africa SME Fund (CASF).
SPEAR Capital, a Scandinavian-backed Sub-Saharan Africa focused private equity investment company, has acquired a 27% stake in Dendairy, Zimbabwe’s second largest dairy producer, in a combined debt and equity transaction valued at $6m.
African Infrastructure Investment Managers (AIIM), an infrastructure equity investment manager, and international power developer, Joule Africa, have entered into an agreed framework that provides AIIM the opportunity to become a major equity investor in the power projects being developed by Joule Africa.
National Bank of Canada and Amethis Finance have agreed to acquire a 26.3% equity stake of NSIA Participations, a financial group headquartered in Abidjan, Côte d'Ivoire, with operations in 12 countries across West and Central Africa.
The Metier Capital Growth Fund II, which completed its first close in mid-February, has signed a binding sale agreement with its first portfolio company, a consumer retail chain with a presence in South Africa and the rest of the continent.
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.
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.
Advanced Finance and Investment Group (AFIG Funds), manager of the Atlantic Coast Regional Fund, will invest up to $14m in Nigerian-German Chemicals (NGC), a Nigerian producer and distributor of pharmaceutical products and bottled beverages.
Actis, a pan-emerging markets private equity firm, has acquired a 21% stake in Integrated Diagnostics Holdings (IDH), the largest private sector healthcare diagnostics service provider in Egypt, from The Abraaj Group.
ADP II, a pan-African private equity fund advised by DPI, has acquired a strategic minority stake HomeChoice International, an omni-channel home shopping retailer in southern Africa, from the majority shareholder in HomeChoice.
Vantage Mezzanine, Africa’s leading mezzanine debt provider, has concluded a transaction with Surfline Communications to provide $30m (R330m) of expansion capital to the company together with a fund co-investor.
Vantage Capital, Africa’s leading mezzanine funder, has provided R77m ($7.06m) of funding for the acquisition of preferred equity facilities in a Pembani-owned SPV that holds 30% of the ordinary equity and PIK notes in AfriSam.
Acumen, a non-profit global venture fund, together with Novastar Ventures, have announced a €2m ($2.5m) equity investment in SolarNow, an Uganda-based company that sells modular high quality solar home systems to rural populations across the country.
Wananchi Group has attracted $130m in a funding round led by Helios Investment Partners and the existing strategic shareholders Altice SA, Liberty Global, ECP and ATMT, to fund its growth and expansion in East and Southern Africa.
Vantage Capital, Africa’s largest independent provider of mezzanine risk capital, has provided mezzanine debt funding to support Austell Laboratories, a fast growing and 100% black-owned pharmaceutical’s company in South Africa.
I find AGF’s content to be well-written, interesting and highly informative. AGF is able to attract leading figures in the African fund market for exclusive insights and opinion articles that are difficult to find elsewhere.
Joe Greenwell Business Development Director - Augentius
Finding the news behind the news has always been the challenge, but Anna and her team always seem to pull it off. The AGF website, e-newsletter and monthly magazine are read by the whole Phatisa team; well-written, African private equity news not found elsewhere. We are proud to be affiliated with such a young, ambitious and driven media team and wish them only the best.
Stuart Bradley Joint Managing Partner - Phatisa
We find AGF a very useful publication, especially covering, as it does, all asset classes in Africa (as, uniquely, does Investec Asset Management). The public funds data and macro stats are very useful, while the articles and interviews are insightful and often cover (in relative terms) neglected markets and asset classes.
Nick Tims Managing Director
I have found the AGF monthly magazine very informative and always containing some interesting research on the Private Equity industry not found elsewhere.