August Industry News

01 Aug 2023


A collection of news across the African private equity and venture capital industry

African electric motorcycle startup Spiro to expand

Having obtained a first tranche of financing of $60 million, on Friday Spiro signed a $63 million loan with French bank Societe Generale.

Source: Zawya

B Investments pledges US$9.70mn to EZ International

B Investments Holding recently allocated EGP 300 million to EZ International, according to a bourse statement. The listed company carried out the transaction through its 60%-owned B Pharma, which is an investment vehicle designated to invest in EZ International.

Source: Zawya

Capitalworks acquires significant interest in South Africa's IQ Business

South African based independent alternative asset management firm, Capitalworks has acquired a significant interest in IQ Business, a leading independent management consulting firm. This transaction has been made alongside Tiso Investment Holdings, existing shareholders (IQ Group Holdings) and the executive partners of IQ Group.

Source: SAVCA

d.light got US$30mn fund to expand access to clean energy in Tanzania

The Eastern and Southern African Trade and Development Bank (TDB) Group is extending US$30mn under a securitization structure that will mobilize USD125 million in funding for d.light to expand access to clean energy and foster financial inclusion through the delivery of Solar Home System (SHS) products and mobile phones to off-grid customers in Tanzania.

Source: African Business Community

Egyptian AI recruitment startup Talents Arena raises US$750K

Egyptian AI recruitment startup Talents Arena has raised a US$750,000 pre-seed round of funding to power its expansion into Saudi Arabia. Founded in 2019 by Aya Elgebeely, Talents Arena has developed an AI-powered recruitment platform featuring a talents mining engine and automation features.

Source: Disrupt Africa

Goodwell invests EUR150mn in SOUK Farms to scale sustainable agricultural production in Rwanda

Goodwell Investments, an impact investing firm fostering inclusive growth in emerging markets has announced its investment in SOUK Farms, a leading grower and exporter of fresh horticultural produce in Rwanda.

Source: Farmers Review Africa

Moove raises investment from Mubadala and Blackrock

Moove Raises Investment From Mubadala and Blackrock and Announces $76M in Total New Funds to Fuel Further Global Expansion.

Source: TechCrunch

RapidDeploy raises US$34mn in growth funding

Last year, we invested in RapidDeploy's world-leading Public Safety platform. This US$34 million growth funding round further validates their unwavering commitment and success in reducing 911 response times. 

Source: Havaic

STANLIB Asset Management acquires a majority interest in Solareff

STANLIB Asset Management acquires a majority interest in renewable energy solutions specialist Solareff and its subsidiary, GridCars.


Triodos backs Bridge Taxi

The loan supports Bridge Taxi Finance in its growth ambition. South Africa's minibus taxi industry is vital for the country's economy

Source: Africa Global Funds