Phatisa has partially exited its investment in Kanu Equipment, a pan-African distributor of capital equipment, to Adenia Partners, generating an IRR in excess of 50%.
Actis has agreed to sell its 79.5% majority stake in Mentor Management, a Kenyan project management company, to Turner & Townsend, a global construction and management consultant.
Mergence Investment Managers has announced a successful first exit from an investment in a solar energy project housed in the Mergence Renewable Energy Debt Fund I.
LeapFrog Investments has sold a major stake in an emerging markets mobile insurer BIMA to Allianz X as part of a $96.6m transaction.
Metier and Spanish project developer AMDA Energia have sold their interests in AE AMD to Old Mutual’s African Infrastructure Investment Managers (AIIM), through its IDEAS fund, and Katiso Renewable Energy.
Investec Asset Management Private Equity has divested its equity holding in Ashwah Holdings, parent company of Daraju Industries, by selling its significant minority stake back to the company.
SPE Capital, formerly Swicorp Private Equity, has agreed to exit its investment in Orchidia Pharmaceutical Industries, an Egyptian ophthalmic generic medicine manufacturer.
With an investment return of 3.3x, CDG Capital Private Equity, a private investment fund that manages family of funds focused on private equity investing in Moroccan and African SMEs, has exited from Jet Contractors through a sale on the Casablanca Stock Exchange.
QGIAM, the private equity arm of Africa focused investment firm Quantum Global, has sold its interest in Savannah Cement, a Kenyan cement producer, following the receipt of regulatory approvals.
Dutch Oak Tree Foundation (DOTF) as well as multiple minority shareholders have sold their stakes in Joseph Initiative (JI) to Agilis Partners, an agricultural development company based in Uganda.
Spirit Capital has sold its majority stake in Tidy Files, a provider of end-to-end document management and storage solutions in Southern Africa, for R75m to Metrofile Holdings Ltd.
Convergence Partners Investments, an investment firm focused on the TMT sector in Africa, has exited its investment in specialist IT services and solutions company, Dimension Data Middle East & Africa (DiData), for an undisclosed sum. Convergence Partners Investments first invested in DiData in 2004 as part of the original DiData B-BBEE transaction and remained invested until June 2017. The contractual investment term ended in September 2016 and Convergence Partners and DiData negotiated a consensual exit to the investment. "Convergence Partners has now fully exited its shareholding in DiData and Andile Ngcaba has stepped down from the various group Boards on which he served and as Executive Chairman of DiData," the firm said in a statement. Convergence Partners continues to invest in TMT companies across sub-Saharan Africa that it believes will deliver enhanced returns for investors, while underpinning continental development. Dimension Data provides IT products and services, and has operations in five territories: Americas, Asia Pacific, Australia, Europe, and the Middle East & Africa.
Agri-Vie Fund I has exited from one of South Africa’s most respected value-added dairy companies, Fairfield Dairy, to a private investment trust, linked to the founding family for an undisclosed sum.
South African private equity firm Metier has partially exited its investment in plastic products manufacturer Astrapak and has agreed to exit Inhep Electronics Holdings (Inhep).
