AgDevCo invests in Agris to boost East African agriculture platform
Specialist agriculture investor AgDevCo has made an equity investment, for a significant minority position, into East African agribusiness platform Agris – the agriculture division of Maris.
Source: Africa Private Equity News
Enko Capital Managers Exits Investment in Zambian Firm
Enko Capital Managers (“ECM”), managers of the Enko Africa Private Equity Fund (“EAPEF”), a private equity investor targeting mid and small-cap growth companies across Africa, has completed the exit of its investment in AMI Worldwide (“AMI”), a pan African logistics business, with significant operations in East, Central and Southern Africa. The deal marks EAPEF’s first exit.Source: Africa Private Equity News
Inua Capital invests in Ugandan craft chocolate maker
Equator Chocolate is a pioneer craft chocolate maker in Uganda and is known for its bean-to-bar chocolate, which has gained recognition as premium and quality chocolate on a global scale.
Source: Africa Private Equity News
Kazi BBGF Fund acquires 40% stake in figment for fintech growth
The Kazi BBGF Fund, managed by Kazi Capital, has acquired a 40% stake in South African payments solutions technology company Figment.
Source: Africa Private Equity News
Kubik secures US$5.2mn for affordable housing in Ethiopia
Kubik – an Ethiopian company using plastic waste to make affordable buildings – has raised a $5.2 million seed funding round. Investors in the round include African Renaissance Partners, Endgame Capital and King Philanthropies.Source: Africa Private Equity News
Nigerian on-demand delivery service secures US$2.5mn in seed funding
Chowdeck, a Nigerian on-demand delivery service platform, has secured $2.5 million in seed funding to optimise its operations and support expansion into more cities across the country.
Source: Africa Private Equity News
Openseed VC reaches first lose of US$10mn fund
Founder-market fit is one of the most crucial factors in a startup’s success, and operators (someone involved in the day-to-day operations of a startup) turned founders have an almost unfair advantage in finding that fit. Data shows that a lack of expertise and business acumen in founders contributes to failed VC investments.
Source: Tech Crunch
RMB Ventures secures investment in Bulldog Group for expansion and empowerment
RMB Ventures has closed an investment deal with the Bulldog Group in South Africa. Bulldog is a wholesaler and distributor of paint and consumables to the auto-refinish industry, and the industrial, DIY and woodwork sectors. It services the market through three businesses namely Bulldog Abrasives, RSB and Y.E.S.
Source: Africa Private Equity News
Spark+ Africa Fund invests $1.5mn in ATEC for IoT-enabled eCook appliance rollout
The Spark+ Africa Fund, managed by Spark+ GP, has provided $1.5 million in long-term quasi-equity financing to ATEC through its Mauritius affiliate. The facility will finance ATEC to accelerate the rollout of its patented IoT-enabled eCook appliances across African markets.
Source: Africa Private Equity News
Spatialedge secures R60mn investment for retail AI solutions
Data and applied AI solutions company, Spatialedge, has announced the closing of R60 million (c. $3.1 million) in funding from Hlayisani Capital, marking a significant milestone in its mission to transform the retail industry.Source: Africa Private Equity News
SPE Capital to acquire minority stake in Moroccan consumer goods firm for 450mn dirhams
SPE Capital and Morocco-based consumer goods company Dislog Group have signed a memorandum of understanding allowing SPE Capital to acquire a minority share in Dislog for an amount which could reach 450 million dirhams (c. $45.2 million).
Source: Africa Private Equity News
Spiro secures US$50mn debt facility to boost EV infrastructure in Africa
Spiro, an electric vehicle company in Africa, has signed heads of terms for a $50 million debt facility with the African Export-Import Bank (Afreximbank).
Source: Africa Private Equity News