January Industry News

01 Jan 2024

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

Ampersand raises US$19.5mn in funding

The Kigali-based electric transport energy company Ampersand has raised US$19.5 million in equity and debt funding to help it continue to expand operations.

Source: Disrupt Africa 

EAIF backs Zambia's first green bond as a cornerstone investor

The Emerging Africa Infrastructure Fund (EAIF), a Private Infrastructure Development Group Company (PIDG), has committed to de facto underwrite US$50m of Zambia’s first US$53.5m green bond, to finance key solar infrastructure and support diversification of the country’s energy sector.

Source: Africa Global Funds 


EAIF secures $294M for African infrastructure

Private Infrastructure Development Group (PIDG) company, the Emerging Africa Infrastructure Fund (EAIF), has successfully raised $294 million of additional debt facilities, achieving over half of the Fund’s target to raise $500 million by 2025. The finance facilities demonstrate the Fund’s ability to mobilise private sector debt in one of the largest capital raises in recent years, led by a blended finance debt fund advancing infrastructure development across Africa.

Source: Africa Global Funds


Egyptian fintech company secures US$4mn investment

Egypt-based fintech and customer loyalty app Zeal secured a $4 million funding round led by Raed Ventures and Cur8 Capital, along with strategic angel investors.

Source: Zawya


Ezdehar invests US$10mn in healthtech company Yodawy

Ezdehar, a direct investment fund management company, has acquired a minority stake in Yodawy, a medical technology company, through its Ezdehar 2 mid-cap fund. The deal is valued at $10 million.

Source: Wamda


Globeleq acquires $117m for Kenyan geothermal plant

Triple Jump has announced the launch of the Triple Jump Financial Inclusion Resilience Fund (FIRF). The fund will focus on providing subordinated debt to financial intermediaries serving micro, small and medium-sized enterprises (MSMEs) and low-income borrowers in emerging markets. FIRF aims to serve as a catalyst to improve the solvency position of these financial intermediaries, allowing them to continue and increase their lending activity to MSMEs and low-income borrowers. 

Source: Africa Private Equity News 


Gulf Capital exits AmCan, MENA's largest sports nutrition distributor

Gulf Capital (“GC”), one of the largest private equity firms investing from the GCC to the rest of Asia, announced today that it has successfully completed the sale of 100% of AmCan, the exclusive distributor of many of the top global sports nutrition brands across the MENA region, to a leading regional FMCG distributor operating across the Middle East and Africa.  This highly profitable and strategic sale comes on the heel of another successful exit of a food distribution firm, Chef Middle East (“Chef ME”), the GCC’s premier foodservice distribution business, which was sold to The Chefs’ Warehouse, a Nasdaq-listed specialty food distributor operating across North America.

Source: Africa Global Funds

Lapaire secures US$3mn in equity investment

Standard Bank has advised Vivo Energy on its combination with Engine. By combining Engen and Vivo Energy, the group will be on elf the larges energy distribution companies on the continent. 

Source: Africa Private Equity News 

Rwandan medical procurement platform secures investment 

Viebeg Medical has announced a new investment from J&J Impact Ventures, an impact fund within the Johnson & Johnson Foundation, and Sanofi Global Health Unit Impact Fund. 

Source: Africa Private Equity News