AVCA | Member News

Member News

30 November 2023

White & Case advises on sale of Khoemacau copper mine for US$1.875bn

Member News

29 November 2023

Africinvest, Amethis, Proparco and IFC acquire a majority stake in Netis

A consortium of investors including Africinvest, Amethis, Proparco and the International Finance Corporation (IFC) has acquired a majority stake in Netis, a leading pan-African telecommunication infrastructure service provider.

Member News

27 November 2023

DPI and Verod Capital partner to back Pan African Towers

Pan African Towers (PAT), a leading digital infrastructure company based in Nigeria, has announced a strategic investment from Development Partners International (DPI), a premier investment firm focused on Africa, and Verod Capital (Verod), one of the continent’s leading investment management firms. DPI and Verod are investing in PAT to fuel its continued growth and will work with management to build on the company’s recent achievements and reaffirm its position as Nigeria’s largest homegrown digital infrastructure provider.

Member News

22 November 2023

Africa50 and AfricInvest co-lead investment in Africa Healthcare Network

Africa Healthcare Network (AHN), a leading provider of dialysis services in Africa, has secured $20 million in equity and debt funding, from Africa50 and AfricInvest, two leading African institutions, and Tokyo-based Ohara Pharmaceutical Co., Ltd.

Member News

21 November 2023

Mediterrania Capital Partners welcomes Bpifrance to MC IV fund

Mauritius. Mediterrania Capital Partners, a Private Equity firm focused on growth investments for SMEs and mid-cap companies in North Africa and Sub-Saharan countries, is pleased to announce that Bpifrance will be joining the MC IV fund to support mid-cap companies in North and Sub-Saharan Africa. Bpifrance will invest through Averroès, its Funds of funds dedicated to Africa.

Member News

17 November 2023

Catalyst exits 4 utility scale solar PV projects

Catalyst is proud to announce the successful sale last summer of 90% of the Catalyst MENA Clean Energy Fund (CMCF) portfolio. The sale of 4 utility scale solar PV projects located in Jordan and Egypt were sold as a portfolio to an international strategic buyer, resulting in top quartile returns. Catalyst’s investors are primarily EU Governments. Catalyst has made a significant impact on the renewable energy landscape by developing some of the MENA region’s first utility scale solar PV projects, across Jordan and Egypt.

Member News

14 November 2023

Ventures Platform co-leads investment in Shekel Mobility

Operating within this strategic domain is YC-backed Shekel Mobility. The B2B auto dealers marketplace has secured over $7 million in funding, comprising $3.2 million in equity and over $4 million in debt.

Member News

13 November 2023

Convergence Partners co-leads US$25mn investment in CSquared with IFC

Successful equity raise from new and existing shareholders enhances CSquared’s ambition to create a Digitally Connected Africa via significant infrastructure rollout. The new investment in CSquared by Convergence Partners Digital Infrastructure Fund (“CPDIF”) and IFC also results in streamlining of CSquared ownership structure.

Member News

9 November 2023

Mediterrania Capital IV receives €15mn commitment from British International Investment

Mauritius. Mediterrania Capital Partners, a Private Equity firm focused on growth investments for SMEs and mid-cap companies in North Africa and Sub-Saharan countries, is pleased to announce that British International Investment(BII), UK’s development finance institution and impact investor, will be investing €15 million in the new MC IV fund to support mid-cap companies in North and Sub-Saharan Africa.

Member News

8 November 2023

Oikocredit invest in Good Nature Agro

Amersfoort, the Netherlands – Social impact investing cooperative Oikocredit has joined with co-investors Goodwell Investments and Global Partnerships/Eleos Social Venture Fund to provide US$ 8.5 million in equity to Zambian social enterprise Good Nature Agro.

Member News

8 November 2023

IFU exits FOSS investment

India is one of the world’s largest producers of grain and milk, having an ambition to further increase quantity and improve quality. This is a good fit with FOSS being a world leading company providing end-to-end solutions securing and improving food quality, reducing waste and creating higher yields.

Member News

7 November 2023

British International Investment partially exits TVS ILP

BII’s investment led to the implementation of green building practices across all TVS ILP’s warehouses in India. BII remains as significant minority stakeholder to support TVS ILP’s growth plans

Member News

5 November 2023

Flat6lab raised funding up to SAR2.4mn

Riyadh Valley Company, the investment arm of King Saud University and a prominent player in the investment landscape of Saudi Arabia, is delighted to announce its strategic investment in Flat6Labs’ Startup Seed Fund, a move that solidifies its commitment to supporting the growth and development of the region’s vibrant startup ecosystem.

Member News

2 November 2023

Africa Finance Corporation exits equity stake in Ghana’s Takoradi Port

Africa Finance Corporation (AFC), the continent’s leading infrastructure solutions provider, has exited its 35% equity investment in Atlantic Terminal Services Limited (ATSL), the concessionaire for the expansion of Ghana’s Takoradi Port, to the global ports and container terminals operator Yilport Holding. This is testament to the Corporation’s ability to attract international 3rd party capital and exit strategic infrastructure assets built by derisking through AFC’s unique project development and construction offering.

Member News

1 November 2023

British International Investment commits US$26.5mn to address food security

British International Investment (BII), the UK’s development finance institution (DFI) and impact investor, today announced a US$26.5 million commitment to AFEX, Africa’s leading commodities platform, which currently operates over 200 warehouses in Nigeria, Kenya, and Uganda and serves over 450,000 farmers. The investment will support structural improvements in Africa’s agricultural industry, which will significantly benefit smallholder farmers and lead to improvements in food security.

Member News

1 November 2023

Pearl Capital Partners launches UGX23.9bn Dairy-Horticulture Credit Fund

Pearl Capital Partners(PCP) is delighted to announce and launch aUGX23.9 billion (€6 million) Fund with support from The Embassy of the Kingdom of the Netherlands (EKN). The Agro-SACCO-focused credit facility fund will support smallholder farmers in the dairy and horticulture value chains through various access to finance initiatives. The Dairy-Horticulture Credit Limited (‘DHCL Fund’), managed by PCP Uganda Ltd, is a UGX23.9 billion credit facility for wholesale lending to SACCOs, other Cooperatives and SMEs working with and supporting smallholder farmers in the dairy and horticulture value chains. The DHCL fund has two separate credit lines - the Uganda Dairy Credit Facility(UDCF) and Horticulture Credit Line; each capitalized with UGX11.9 billion (€3million).

Member News

31 October 2023

Savant Venture Fund co-investment in BurnStar Technologies

Sibanye-Stillwater, a multinational mining and metals group with a diverse portfolio of projects and investments across five continents, and Savant Venture Fund, a leading sustainable technology and engineering investment firm, are proud to announce their strategic investment in BurnStar, a pioneering South African clean hydrogen company. This collaboration marks a significant milestone in South Africa’s journey toward a sustainable energy future, centered around the production of Guilt–Free (Turquoise) Hydrogen™.

Member News

30 October 2023

Exeo Capital’s Agri-Vie II Fund injects US$10mn into Ugandan diary production

The African continent is becoming a net exporter of food and now, propelled by the African Continental Free Trade Area (AfCFTA), the agricultural sector could provide the impetus needed to boost Africa’s domestic processing capacity and reap far-reaching economic rewards. These favourable prospects bode well for food processing businesses like Amos Dairies Limited – the most recent investment by EXEO Capital’s Agri-Vie Fund II.

Member News

30 October 2023

Injaro Investments IGVCF makes US$2mn investment in Zeepay

Injaro Investment Advisors, a Ghanaian private capital fund manager, is delighted to announce a USD 2M equity investment in the Series A.5 round for Zeepay Ghana Limited (‘Zeepay’). In this inaugural investment of its Injaro Ghana Venture Capital Fund (“IGVCF” or the “Fund”), Injaro joins a consortium of international investors for the current fundraising round.

Member News

23 October 2023

Proparco joins FMO in US$43mn investment in Husk

Husk Power Systems (Husk), the leading minigrid company serving rural communities in Sub-Saharan Africa and South Asia, has secured a new round of equity investment totalling $43 million. New investors include STOA, which led the round, the U.S. International Development Finance Corporation (DFC), and Proparco, with follow-on investments from existing shareholders including Swedfund and FMO. The funding will accelerate the rollout of minigrids in rural and peri-urban Nigeria and India, enabling increased access to clean, affordable, reliable, and modern energy.

Member News

17 October 2023

African Development Bank backs Africa’s first Sustainable Panda Bond

Egypt has successfully issued a 3-year Sustainability Panda Bond worth RMB 3.5 billion ($478.7 million). The North African nation is the first on the continent to do so, a move that underscores its commitment to access previously untapped sources of capital to drive economic growth.

Member News

16 October 2023

AfricInvest and Verod Capital acquire stake in iSON Xperiences

16 October 2023: Verod Capital and AfricInvest have partnered to acquire a majority stake in iSON Xperiences, a leading ICT solutions provider. Established in 2010, iSON Xperiences specialises in delivering business process outsourcing (BPO), business process management, and digital customer experience solutions across Africa, the United Arab Emirates, and India. The company serves more than 500 million end-users spanning diverse sectors such as Telecom, Financial Services, Energy & Utilities, Media & Entertainment, Aviation, Retail and E-commerce. iSON Xperiences employs over 18,000 individuals across 19 countries, including 16 in Africa.

Member News

16 October 2023

The Energy Entrepreneurs Growth Fund (EEGF) exceeds target, successfully closing at US$125mn

The Energy Entrepreneurs Growth Fund (EEGF), an initiative led by Shell Foundation, a UK-registered charity, in collaboration with FMO, the Dutch entrepreneurial development bank, successfully closed its fundraising period on 31 July 2023 with commitments totaling US$125 million, a remarkable leap from its initial round which closed at US$45 million. This achievement signifies a pivotal step towards the goal of extending access to clean energy solutions in underserved regions within Sub-Saharan Africa.

Member News

13 October 2023

Acasia Ventures leads pre-Seed round in Lengo AI

Acasia Ventures, a prominent early-stage venture capital firm, has taken the lead in a pre-seed investment round for Lengo AI, an AI-powered Fast-Moving Consumer Goods (FMCG) intelligence platform based in Dakar, Senegal. This significant investment round also saw participation from notable players in the venture capital space, including Ventures Platform, P1 Ventures, Launch Africa, Voltron Capital, and several angel investors. Launched in 2022, Lengo AI has quickly made waves in the African retail landscape with its groundbreaking approach to gathering and leveraging data from informal retailers.

Member News

13 October 2023

IFC invests US$50mn in new LeapFrog fund

Nairobi, Kenya, October 6, 2022 —IFC today announced an investment in a new fund by LeapFrog Investments, one of the largest private equity groups dedicated to impact investing in emerging markets, to improve fast-growing health and financial services firms' access to growth capital and support job creation in Africa, South Asia, and Southeast Asia

Member News

13 October 2023

BluePeak Private Capital final US$156mn close

BluePeak Private Capital (BluePeak) – an alternative asset manager firm supporting the growth of scalable businesses in Africa through privately negotiated and structured debt like instruments– has reached final closing at USD 156 million for its inaugural private capital fund, BluePeak Private Capital Fund SCSp (the Fund). The closing signifies the emergence of private debt as an attractive asset class, offering superior risk adjusted and a compelling alternative for African SMEs.

Member News

11 October 2023

Alitheia IDF invests US$5mn to revolutionise South Africa's textile industry.

Member News

10 October 2023

Adenia has acquired a majority stake in Enfin

Adenia Partners (“Adenia”), a private markets investment firm committed to responsible investing and a sustainable Africa, has completed a majority investment in Enfin, a solar financing solutions provider serving commercial and industrial clients across South Africa, as the first investment from its fifth flagship fund (“Adenia V” or “the Fund”).

Member News

8 October 2023

Renew Capital invest in micro insurance platform, Jamii.one

Ethiopia, September 28, 2023 — Driving towards ﬁnancial inclusion for communities across Ethiopia, Renew Capital Angels has partnered with Jamii.one, a trailblazer micro-insurance platform for the African landscape.

Member News

6 October 2023

Oasis Capital Ghana exits legacy girl's college

Accra, Ghana - Oasis Capital Ghana, an SME growth equity investor in West Africa, is delighted to announce the successful exit of its holdings in Legacy Girls College (LGC), a leading educational institution based in Ghana catering exclusively to female students. This achievement marks a significant milestone as it represents the first complete exit from the Oasis Africa Fund I.

Member News

6 October 2023

Aruwa Capital provides US$20,000 grant to Taeillo

Aruwa Capital Management and Taeillo are empowering Women for a Brighter Tomorrow Aruwa Capital Management in partnership with Ford Foundation is pleased to have provided a $20,000 grant to Taeillo to ensure more women are brought into skilled roles in furniture production. Aruwa Capital Management and Taeillo have embarked on an inspiring journey in collaboration with Impact HER Africa to launch a Women Empowerment Program (TWEP) with a clear mission to equip 20 remarkable women with essential skills over the next 3 months.

Member News

5 October 2023

Sanari reaches US$65mn in second close for growth fund

Sanari Capital, a women-led and majority Black- and women-owned South African private equity firm, has successfully raised R1.25 billion (approximately $65 million) for its growth fund. The fund is poised to play a pivotal role in fuelling employment opportunities and fostering economic growth in South Africa and across the African continent. This marks the second closing for the Sanari 3S Growth Fund as the firm edges closer to its goal of reaching a final close equivalent of up to $100 million.

Member News

4 October 2023

Alterra has announced the first close for the Alterra Africa Accelerator Fund (AAA Fund)

Alterra announced the first close for the Alterra Africa Accelerator Fund, raising US $140mn. Further commitments are expected to raise as much as the targeted fund cap of $500 million.

Member News

4 October 2023

CrossBoundary partners to scale scale battery swapping services across Nigeria

CrossBoundary Access and Mobile Power are announcing a $10 million partnership to deploy MOPO Hubs in Nigeria, providing energy access to 300,000 people using an innovative battery service. CrossBoundary Access has committed an initial $2.25 million for the transaction, with the option to extend up to $10 million.

Member News

27 September 2023

Amethis invests in Energy Transfo

Amethis is pleased to announce that it has acquired a minority stake in Energy Transfo, a major player in the design and manufacture of solutions for the electricity and renewable energy sectors in Morocco.

Member News

26 September 2023

IFC invests in E-Commerce Platform ANKA to support Africa’s creative artisans

An IFC investment into leading African e-commerce platform ANKA will support the growth of thousands of small and women-led artisanal businesses, strengthening Africa's creative industries and its growing online retail sector.

Member News

26 September 2023

AIIM expands temperature-controlled logistics platform with acquisition of Sequence Logistics

Commercial Cold Holdings (CCH), a leading cold chain logistics platform controlled by funds managed by African Infrastructure Investment Managers (AIIM) a subsidiary of Old Mutual Alternative Investments, is achieving significant milestones in its expansion within the temperature-controlled logistics industry.

Member News

26 September 2023

Alitheia IDF leads investment in Lupiya

Zambian fintech Lupiya has raised $8.25 million in a Series A funding round led by Alitheia IDF Fund, with participation from INOKS Capital SA and the German Investment Bank KfW DEG.

Member News

25 September 2023

Mediterrania Capital IV receives a €20mn commitment from Cassa Depositi e Prestiti S.p.A. (CDP Group)

Mediterrania Capital Partners, a Private Equity firm focused on growth investments for SMEs and mid-cap companies in North Africa and Sub-Saharan countries, is pleased to announce that Cassa Depositi e Prestiti S.p.A. (CDP Group) will be investing €20 million in the new MC IV fund to support mid-cap companies in North and Sub-Saharan Africa.

Member News

25 September 2023

Amethis invests in HB Aesthetics to accelerate MEA expansion

Amethis Europe Expansion invests in HB Aesthetics, a European player in the cosmetics market, in the context of a primary LBO alongside its chairman and founder Raphaël Chauchard-Rios

Member News

22 September 2023

Metier announces first close of Metier Capital Growth Fund III

Metier announced the first close for Metier Capital Growth Fund III, raising just over $182 million, with further commitments expected by final close positioning Metier to exceed its targeted fund size of $200 million.

Member News

21 September 2023

Mediterrania Capital IV receives a €30mn commitment from EBRD

Mediterrania Capital Partners, a Private Equity firm focused on growth investments for SMEs and mid-cap companies in North Africa and Sub-Saharan countries, is pleased to announce that the EBRD will be investing up to €30 million in the new MC IV fund to support mid-cap companies in North and Sub-Saharan Africa.

Member News

20 September 2023

ARAF and Alitheia Capital co-leads US$10.4mn investment in Complete Farmer

Complete Farmer, an end-to-end digital, agricultural marketplace that connects African farmers and global industries to competitive markets, resources, data, and each other on a single platform, raises $10.4 million in a Pre-Series A funding round of equity and debt. The equity portion of the round was co-led by the Acumen Resilient Agriculture Fund (ARAF) and Alitheia Capital via its uMunthu II Fund in partnership with Goodwell Investments, who were joined by Proparco, Newton Partners and VestedWorld Rising Star Fund. Debt financing was provided by Sahel Capital’s SEFAA (Social Enterprise Fund for Agriculture in Africa) Fund, Alpha Mundi Group through its Alpha Jiri Investment Fund and Global Social Impact Investments, to fund both CAPEX and working capital investments in support of short and long-term growth.

Member News

13 September 2023

Joliba Capital reaches first close for West and Central Africa fund

Member News

13 September 2023

Alitheia IDF backs Rentoza

Rentoza, a South African-based online subscription platform, recently secured a significant boost in funding with investments totalling $6 million from two prominent funders. The funding round was led by Alitheia IDF and included the Vumela Enterprise Development Fund.

Member News

13 September 2023

TPG to invested US$336MN in Denodo

Denodo (the “Company”), a leader in data management, and TPG (NASDAQ: TPG), a global alternative asset management firm, today announced that they have signed a definitive agreement for TPG Growth, the firm’s middle market and growth equity platform, to invest $336 million in Denodo’s Series B preferred equity. The transaction, which includes both primary capital and a secondary sale of shares by HGGC, is expected to close in early October following customary regulatory approvals. HGGC, which invested in Denodo’s Series A investment round in 2017, will remain a significant investor.

Member News

12 September 2023

Adiwale Fund I acquires a minority stake in Global Action

Adiwale Fund I announces a minority equity investment in Global Action, a growing consumer goods distribution company in Senegal. Global Action was founded in 2014 by Moussa Mboup, a Senegalese businessman with over 35 years' experience in wholesale and retail distribution. The company is a significant player in wholesale distribution in Senegal with customers in several regions of the country.

Member News

8 September 2023

AfDB's Sustainable Energy Fund for Africa raises US$50mn in new commitments from Germany and USA at Africa Climate Summit

The African Development Bank's Sustainable Energy Fund for Africa (SEFA) welcomes approximately $50 million in new funding contributions from Germany and the United States. The contributions will serve to boost its position as one of the continent's leading climate finance facilities.

Member News

5 September 2023

Renew Capital invests in FlexPay

FlexPay’s "save now, buy later" platform allows customers to purchase products over time, interest-free, by setting personal savings goals. They provide customers with greater financial flexibility and purchasing power by collaborating with merchants to facilitate flexible payment options for high-value goods and services.

Member News

4 September 2023

FMO jointly invests US$12mn in Okra Solar

Okra Solar, known for pioneering mesh-grid technology, has just closed their Series-A round of financing to scale mesh-grid technology - with more than $12M of fresh financing including debt and equity with $7.85M raised on equity led by At One Ventures, along with FMO, Susquehanna Private Equity Investments LLLP, Autodesk Foundation and King Philanthropies. The debt financing was provided by EDFi.

Member News

4 September 2023

Kasada aquires Cape Town Hotel

Port Louis, Mauritius, 4 September 2023 – Kasada, the leading independent real estate private equity platform dedicated to the hospitality industry in Africa, is pleased to have acquired the former Radisson Blu Hotel & Residence, the 214-room hotel in the center of Cape Town from a local real estate investment company.

Member News

4 September 2023

Kasada acquires former Radisson Blu Hotel & Residence in Cape Town

Kasada, the leading independent real estate private equity platform dedicated to the hospitality industry in Africa, is pleased to have acquired the former Radisson Blu Hotel & Residence, the 214-room hotel in the center of Cape Town from a local real estate investment company.

Member News

30 August 2023

AfDB backs Triple Jump For Energy Entrepreneurs Growth Fund

In July 2023, the Energy Entrepreneurs Growth Fund (EEGF) signed a US$ 6.5mn concessional loan agreement with the African Development Bank (AfDB) to replenish its facility with EEGF as part of the COVID-19 Off-Grid Recovery Platform (CRP). This patient and risk-tolerant capital funded by the Global Environment Facility (GEF), will be blended with EEGF capital to provide loans on more affordable terms to support a strong recovery and further growth of this emerging industry.

Member News

29 August 2023

Sahel Capital enables hibiscus export from Nigeria with a Trade Finance Loan to Sourcing and Produce Limited.

Sahel Capital, a prominent investor in the food and agriculture sector in sub-Sahara Africa, is thrilled to announce a US$1 million trade finance facility extended to Sourcing and Produce from its Social Enterprise Fund for Agriculture in Africa (“SEFAA”) fund. Launched in 2021 with KfW as the anchor investor, SEFAA aims to stimulate economic activities among smallholder farmers by empowering the social enterprises that engage with them.

Member News

23 August 2023

RH Managers raise R2bn to boost SA’s social and energy infrastructure

In Johannesburg today, 22 August 2023 - RH Managers (RHM), a Johannesburg-based private equity and infrastructure investment firm is on a fund-raising drive for a R2bn Social Impact Fund to boost South Africa’s healthcare and energy infrastructure.

Member News

21 August 2023

AIIM invests US$90mn to develop a new Pan-African data center

African Infrastructure Investment Managers (AIIM), a leading African infrastructure private equity manager, and N+ONE DATACENTERS (N+ONE), a leading African data center owner and operator, are joining forces to develop a new Pan-African data center and cloud services platform with a short-term target capacity of 40 MW. N+ONE will contribute its existing market leading portfolio of digital infrastructure assets and extensive products in Morocco and AIIM will be contributing an initial USD 90 million of growth equity through its latest pan-African infrastructure fund, African Infrastructure Investment Fund 4 (“AIIF4”).

Member News

15 August 2023

LoftyInc invests in Emtech

Emtech, an African provider of central banking infrastructure, introduced its Central Bank Digital Currency (CBDC) Innovation kit last month. The kit caters to fintechs and financial service providers interested in experimenting with solutions and business models based on digital currencies pioneered by central banks.

Member News

4 August 2023

Verdant Capital raises EUR10mn of debt funding for Bridge Taxi Finance

Bridge Taxi Finance (“Bridge Taxi”), a Mokoro Holdings subsidiary, is a development company offering finance and support products to the minibus taxi industry in South Africa. This includes strategic investments and associations in various industries supporting the developmental finance chain, from taxi finance to logistics, credit solution services, supply of parts, and vehicle servicing.

Member News

1 August 2023

AFC invests to transform petroleum transportation in Uganda

Africa Finance Corporation (AFC), the leading infrastructure solutions provider on the continent, today announced its investment in Mahathi Infra Uganda Limited, one of East Africa’s largest oil and gas downstream players.

Member News

1 August 2023

FMO invests US$20mn in Starsight Premier Energy

Member News

1 August 2023

Ventures Platform leads Traction App funding round

Micro, small, and medium-sized firms (MSMEs) constitute the backbone of the Nigerian economy, accounting for more than 60% of GDP growth and playing a crucial role in job creation. According to the National Bureau of Statistics, there are over 39 million such firms, and 87% operate informally, meaning they primarily receive cash and perform activities on paper.

Member News

31 July 2023

IFC invests in Metier to boost growth of mid-market companies in sub-Saharan Africa

To support the growth of mid-market companies in sub–Saharan Africa, IFC today announced an equity investment of US$25m in Metier Capital Growth Fund III (MCGF III) as well as a co-investment envelope of US$15mn to invest alongside the fund in select companies.

Member News

25 July 2023

AfricInvest’s MPEF IV exits Promamec

Casablanca, July 24, 2023 – AfricInvest is pleased to announce its exit from Promamec, a Moroccan pioneer in the production and distribution of medical devices for the public and private sectors. Founded in 2000, the company has steadily grown to become one of the Moroccan leaders in the provision of a diverse range of medical devices. Thanks to its innovative strategy and dedicated teams, Promamec engaged in exclusive partnerships with several internationally renowned brands allowing the company to cover a wide spectrum of medical specialties.

Member News

19 July 2023

Ventures Platform leads $1.25M pre-seed investment in MyCover.ai

Mycover.ai the insurtech startup building Africa’s digital insurance infrastructure, has announced the close of a $1.25 million pre-seed funding round, today, led by Ventures Platform.

Member News

15 July 2023

Norfund invests in manufacturing and recycling business in Ghana

The Norwegian Investment Fund for Developing Countries (Norfund) is investing USD 10.5 million in Miniplast Ghana Ltd (“Miniplast”) to support its expansion plans across its manufacturing and recycling segments.

Member News

15 July 2023

Carlyle sells majority stake in Tessara to AgroFresh Solutions Inc.

15 July 2023 – Global investment firm Carlyle (NASDAQ: CG) today announced it has agreed to sell its majority stake in Tessara, a leader in post-harvest solutions to AgroFresh Solutions, Inc. (“AgroFresh”). The financial details of the transaction were not disclosed.

Member News

13 July 2023

British International Investment (BII) back 14Trees to accelerate the provision of innovative green building solutions across Africa

Joint venture between Holcim and British International Investment (BII) looks to accelerate access to 3D construction printing from Africa to the world

Member News

13 July 2023

IFC invests in Amethis Partners’ fund to support African medium-sized businesses

Nairobi, Kenya, July 11, 2023—To support the development of medium-sized companies in Africa across a range of sectors, IFC today announced an investment in the first close of Amethis Partners' Amethis Fund III.

Member News

10 July 2023

Amethis announces the first closing of Amethis Fund III at €140mn

Amethis and Edmond de Rothschild Private Equity announce the first closing of Amethis Fund III at €140 million. The fund will invest with impact in mid-sized companies in the most diversified economies of the African continent.

Member News

7 July 2023

Flat6Labs and Seedstars International Ventures back Egypt’s Agel in pre-seed funding round

Agel, Egypt’s first and only Islamic FinTech, has announced today that the company has successfully closed the pre-seed round for undisclosed seven-digit figures. The investment round was led by leading MENA-focused venture capital firms, Plus Venture Capital (+VC), Seedstars International Ventures, Flat6labs, with participation from SEEDRA Ventures, Banque Misr Acceleration Program, and prominent angel investors.

Member News

7 July 2023

African Development Bank invest in BluePeak Private Capital Fund

The Board of Directors of the African Development Bank Group has approved an $11 million equity investment in BluePeak Private Capital Fund toward its $155 million target for final close. The investment advances the Bank’s goal of supporting mid-size firms, including in the pharmaceuticals, agribusiness, manufacturing, and logistics sectors, across Africa.

Member News

7 July 2023

Verod exits CSCS Nigeria

CSCS is a financial market infrastructure platform and is the sole licensee for the central depository and settlement of transactions on the Nigerian Exchange Limited ("NGX"), amongst others.

Member News

30 June 2023

Verod-Kepple Africa Ventures (VKAV) Invests $1.5M in Chari

Lagos, Nigeria - 29 June 2023: Verod-Kepple Africa Ventures ("VKAV") is pleased to announce its investment of US$1.5 million in Chari, a Morocco-based B2B e-commerce company, to support its growth plan. Simultaneously, Ryosuke (Rio) Yamawaki, Partner at VKAV, has been appointed as a Strategic Advisor to the company, reinforcing their commitment to transforming the informal retail sector and driving economic growth in the region.

Member News

30 June 2023

Verdant Capital funds Patasente Uganda

Verdant Capital is pleased to announce a revolving credit facility for Patasente Uganda (“Patasente”), a digital trade services platform for farmers, warehouses, and factories. The facility will be used to support Patasente’s invoice discounting and supplier financing activities. “Patasente” is a local Swahili and Luganda word that means “Get Money”.

Member News

29 June 2023

Aruwa Capital Management invests US$2mn in Fastizers: an indigenous snack food and confectionery manufacturing company

Aruwa Capital Management (“Aruwa”), an early-stage growth equity and gender lens fund investing in Nigeria and Ghana is pleased to announce a $2 million investment into Fastizers (the “Company”), a local manufacturer of snack foods and confectioneries in Nigeria.

Member News

26 June 2023

Norfund invests in OH Ecosystems to create jobs in cocoa processing in Nigeria

Norwegian Investment Fund (Norfund) has invested $12 million in the Local Nigerian Cocoa Processing Business with the aim to create jobs in Nigeria, while addressing some of the challenges in the cocoa value chain.

Member News

16 June 2023

Proparco supports innovation for traditional retailers in Senegal

On the occasion of the Viva Technology trade show, Proparco and Digital Africa are reaffirming their support for "Made in Africa" companies, by granting financing, through the Bridge Fund by Digital Africa, to the Senegalese start-up Maad.

Member News

15 June 2023

Aruwa Capital Management invests in OmniRetail

Aruwa Capital Management (“Aruwa”), an early-stage growth equity and gender lens fund investing in Nigeria and Ghana is pleased to announce an investment into OmniRetail, popularly known as OmniBiz (the “Company”), a tech-first B2B e-commerce company that aggregates end-to-end retail operations to help manufacturers, distributors, logistic partners, and retailers achieve their business goals through a seamless supply chain framework and embedded finance.

Member News

8 June 2023

IFC announces investment in Safaricom Ethiopia

LONDON, United Kingdom, June 8, 2023 – IFC and MIGA — members of the World Bank Group — today announced an equity investment, a loan and guarantees to support the ongoing construction and operation of Safaricom Ethiopia's greenfield telecommunications network across Ethiopia, leading to more affordable internet, reliable mobile connectivity and technology access for people and businesses in the country.

Member News

6 June 2023

Convergence Partners backs Yellow’s latest Series B funding round

Convergence Partners has announced the closure of its investment in Yellow, a provider of pay-as-you-go finance for off-grid solar home systems and connectivity solutions for low-income consumers in parts of East Africa.

Member News

5 June 2023

IFC backs BUA to boost industrialisation in Northern Nigeria

Abidjan, Côte d'Ivoire, June 5, 2023 —IFC today made its largest-ever investment in northern Nigeria, providing a financing package alongside African and European partners to BUA Cement Plc to help the company part-finance and develop two new, energy-efficient cement production lines that will create up to 12,000 direct and indirect jobs.

Member News

5 June 2023

IFC supports largest pharmaceuticals factory in Côte d’Ivoire

Abidjan, Côte d'Ivoire, June 5, 2023—To support stronger healthcare outcomes in West Africa, IFC today announced a partnership with the Shanghai Fosun Pharmaceutical (Group) Co., Ltd. to help the company build a pharmaceuticals production facility and distribution hub in Côte d'Ivoire.

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5 June 2023

IFC invests in South Sudan hotel

Abidjan, Côte d'Ivoire, June 5, 2023 – To support the development of South Sudan's tourism infrastructure, IFC today announced an investment in Dembesh Hotel in Juba that will help finance the hotel's renovation and expansion, creating jobs during and after the construction phase.

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2 June 2023

Alitheia Capital's joint uMunthu II fund reaches €57mn first close

Goodwell Investments and its long-standing partner Alitheia Capital are proud to announce that a mixed group of investors are joining the journey to finance inclusive growth in Africa.

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2 June 2023

BII, FMO, Norfund et al. jointly invest in Sun King

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31 May 2023

FSD Africa Investments backs Africa Climate Ventures

The investment represents the first institutional backing for the venture builder, which aims to assemble a portfolio of businesses focused on climate action across Africa, boosting continental participation in global carbon markets.

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29 May 2023

IFC invests in the Africa Conservation and Communities Tourism Fund to Support Ecotourism, Conservation in Sub-Saharan Africa

Johannesburg, South Africa, May 29, 2023— To support the post-pandemic recovery and sustainable growth of sub-Saharan Africa's ecotourism sector, IFC today announced an investment in the Africa Conservation and Communities Tourism Fund (ACCT Fund).

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29 May 2023

Proparco jointly provides €34 million to back development of new recycling facilities in Ghana and Senegal

Proparco and OeEB, the Austrian DFI, join forces to provide a €34 million senior debt funding to Gravita Netherlands B.V. (GNBV), the overseas division head of Gravita India Limited (GIL). The group is a key player in the industrial recycling industry, especially in lead recycling, in India and overseas. Proparco and OeEB will support the international branch of GIL by increasing the recycling capacity and funding its daily needs.

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15 May 2023

IFC et al. invest in M-KOPA

IFC and fintech platform M-KOPA Holdings Ltd. today announced a partnership to expand its financial services to underbanked consumers in Eastern Africa, which will enable hundreds of thousands of women, lower-income customers, those in rural communities, and others in Kenya and Uganda, to purchase productive assets such as smartphones and home solar systems.

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4 May 2023

Proparco committed $5 million in DisrupTech

Proparco committed $5 million in DisrupTech, which aims to provide seed capital to up to 28 start-ups with prime focus on financial technology services. The fund raised $36 million from several investors, including Development Finance Institutions, Funds-of-funds and Family offices. It will be an important financing source for Egyptian tech companies, which often struggle to raise capital to bring their innovations to market.

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2 May 2023

Acasia Ventures leads Balad’s seven-figure pre-Seed round

Egyptian venture capital firm Acasia Ventures led the USD seven-figure pre-seed investment round in Cairo-based, remittance-focused fintech startup Balad. The round was joined by Launch Africa, Future Africa, V&R, Magic Fund, First Circle, Sunny Side, and several family offices.

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2 May 2023

Injaro Ghana Venture Capital Fund (IGVCF) raises GHS25mn

The Minerals Income Investment Fund (MIIF) and Injaro Investment Advisors Ltd (IIAL) are delighted to announce the decision by the management and Board of Directors of MIIF to commit GHS25M to the Injaro Ghana Venture Capital Fund (IGVCF) which is managed by IIAL.

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25 April 2023

IFC invests in Avenue Group Limited to expand healthcare services in Kenya

Nairobi, Kenya, April 25, 2023—IFC today announced an investment in Kenyan healthcare provider Avenue Group Limited that will support the company's strategy to grow its healthcare offering and boost its patient reach by 20 percent across the country over the next five years.

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25 April 2023

IFC invests in Avenue Group Ltd to expand healthcare services in Kenya

IFC today announced an investment in Kenyan healthcare provider Avenue Group Limited that will support the company's strategy to grow its healthcare offering and boost its patient reach by 20 percent across the country over the next five years.

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24 April 2023

Request for an Expression Of Interest: CONSULTANCY TO CONDUCT A STUDY ON AFRICA AS A DOMICILIATION JURISDICTION FOR INVESTMENT VEHICLES AND FUNDS

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14 April 2023

Swedfund invests in solar energy

Swedfund invested USD 30 million on the 1stof March in the Mirova Gigaton Fund[1]. The main purpose of investing in the fund is to reach out to projects in developing countries, with debt financing through a wide range of important, complementary solar energy solutions outside the regular grid, so-called off-grid solutions.

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14 April 2023

Helios exits Solevo

Helios Investment Partners is pleased to announce the completion of the sale of Solevo to a group of investors. The execution of Helios’ value creation strategy over the investment period significantly transformed the company into a leading distributor of specialty chemicals across the most important life sciences and industrial segments, driving the institutionalisation of the business and positioning it for continued growth.

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11 April 2023

EIB Global increases support for Moroccan companies under Tajawouz initiative

The European Investment Bank (EIB), through EIB Global, its new arm for development finance and international partnerships, has signed a finance contract with CaixaBank worth around MAD 330 million (€30 million) to increase support for Moroccan micro, small and medium-sized enterprises (MSMEs).

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6 April 2023

Standard Bank & IFC back Westfalia Fruit

To support the growth of the avocado industry in Africa, Asia, South America, and Europe, IFC, HSBC Bank, and Standard Bank today announced an investment in Westfalia Fruit International Limited to help the company expand sustainable avocado production at its existing facilities and explore opportunities in new markets.

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5 April 2023

AfDB approves US$49.92mn to Build a 30 MW Solar Photovoltaic Power Plant in Dekemhare

Dekemhare 30-megawatt photovoltaic solar power plant project in Eritrea. Amount: US$ 49.92 million grant comprising US$ 19.5 million from the African Development Fund (ADF-15) and US$ 30.42 million from the Transition Support Facility (TSF).

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3 April 2023

Old Mutual Alternative Investments Hybrid Equity announces investment in Enable Capital

Enable specialises in providing short-term funding solutions to subcontractors involved in the physical construction and deployment of local, regional and national fibre network infrastructure in SA.

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31 March 2023

Acasia Ventures invests in Fez’s US$1mn Seed round

Egypt-based VC firm Acasia Ventures has participated in the $1 million Seed round raised by the Lagos-based last-mile delivery platform Fez Delivery, led by Nigeria’s discovery fund Ventures Platform.

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22 March 2023

IFC to Invest in Mediterrania Capital Partners’ Fund to Support African Mid-Cap Businesses

To support the development of medium-sized companies in Africa, with a special focus on firms run or led by women, IFC today announced that it will invest in the first close of Mediterrania Capital Partners' Mediterrania MC IV fund.

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21 March 2023

British International Investment commits EUR 20 million to The Urban Resilience Fund

British International Investment (BII), the UK's development finance institution (DFI) and impact investor, today announced a EUR 20 million commitment to The Urban Resilience Fund (TURF), launched by Meridiam. The investment is the DFI’s first investment in an urban infrastructure fund and supports the design and scale of climate-focussed infrastructure projects across sub-Saharan Africa - increasing the affordability, safety, reliability, and climate-resilience of public infrastructure in African cities.

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17 March 2023

Swedfund invests USD 5 million in Somali fund

Swedfund has decided to invest USD 5 million in NHAO (Nordic Horn of Africa Opportunities Fund). The amount is split into 2 tranches where the second tranche requires certain conditions to be met.

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16 March 2023

Renew Capital Angels Invest in Ugandan Eyewear Company, Wazi

The Renew Capital Angels have invested in Wazi Vision, a women-founded Ugandan company with a vision to change the eyewear industry in Africa. Founders Brenda Katwesigye Baganzi and Geogette Ochieng Ndabukiye launched Wazi in response to a gap in Uganda’s eyewear market.

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13 March 2023

Africa receives investment boost to develop water infrastructure

Metito Utilities Limited (MUL), a global investor and operator of water, wastewater, and alternative energy management solutions, and British International Investment (BII), the UK’s development finance institution and impact investor, announced the launch of their new company Africa Water Infrastructure Development “AWID”, a first-of-its-kind platform to develop climate-smart water projects at scale and to increase water security across Africa.

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8 March 2023

LeapFrog companies reach 200m women, as firm commits to IFC gender equality program

LeapFrog Investments, the profit with purpose investment firm, today announced that its financial services and healthcare businesses have now crossed the threshold of reaching over 200 million women and girls, providing essential springboards and safety nets to help them rise into a better standard of living.

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3 March 2023

Proparco Takes A Stake In Nuru, Which Develops Urban Solar Metrogrids in the DRC

Nuru SASU (Nuru), the company behind Democratic Republic of the Congo (DRC)’s first solar PV metrogrid, is on track to build 13.7MWp of isolated solar-hybrid grids by mid-2024 after securing an initial USD1.5 million from investors in a convertible note round ahead of the close of its Series B funding round.

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2 March 2023

DWM Displaced Communities in line for EIB investment

The European Investment Bank (EIB) has disclosed a proposed $15 million equity investment in the Displaced Communities Fund, managed by DWM Asset Management, LLC.

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2 March 2023

Adiwale Fund I backs vehicle leasing company

Adiwale Fund I and Investisseurs & Partenaires (I&P), through its fund IPAE 2, announced the acquisition of a majority stake in VRS Africa. The company offers operational car leasing and fleet management services for corporate clients in Côte d’Ivoire, Senegal and Ghana. It currently operates a fleet of 800 vehicles and is managed by Jérôme de Villard, CEO since 2019.

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2 March 2023

EIB considers investment in startup fund

The European Investment Bank has disclosed a proposed equity participation of up to $20 million into Seedstars Africa Ventures 1, a closed-ended venture capital fund focusing on sub-Saharan Africa (primarily West and East Africa) and to a lesser extent on North Africa.

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2 March 2023

LeapFrog grows climate investment strategy team

LeapFrog Investments, the profit with purpose investment firm, has expanded its Climate Investment Strategy Team with several new hires, as it seeks to support green growth opportunities for low-income consumers and producers across emerging markets.

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2 March 2023

Swedfund invest additional USD$1.9mn to increase access to reliable and clean energy

Swedfund announced on December 29th, 2022 an additional investment in d.light (1.9mn USD). d.light is a company providing affordable off-grid solar electricity to people living without access to reliable and clean energy in Africa and India. Swedfund’s funding will be used for supporting the company’s further expansion.

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2 March 2023

IFC provides US$50mn to M-KOPA

Nairobi, Kenya, May 15, 2023—IFC and fintech platform M-KOPA Holdings Ltd. today announced a partnership to expand its financial services to underbanked consumers in Eastern Africa, which will enable hundreds of thousands of women, lower-income customers, those in rural communities, and others in Kenya and Uganda, to purchase productive assets such as smartphones and home solar systems.

Member News

2 March 2023

Helios Digital Ventures backs payment service provide Nomba

Nomba, a leading payment service provider for African businesses, has raised a $30 million Pre-Series B funding round to support the delivery of bespoke payment solutions for African businesses. The oversubscribed equity funding round was led by San Francisco-based Base10 Partners (investors in Nubank, Plaid and Brex), with participation from Helios Digital Ventures, Shopify, Partech and Khosla Ventures.

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2 March 2023

Mediterrania Capital Partners, DEG, Proparco and FMO invest €75mn in Laprophan

Mediterrania Capital Partners, a Private Equity firm focused on growth investments for SMEs and mid-cap companies in North Africa and Sub-Saharan countries, is pleased to announce its acquisition of a stake in Laprophan – one of the leading pharmaceutical companies in Morocco –through its fund MC IV, alongside Germany’s development finance institution DEG, Proparco and FMO.

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2 March 2023

500 Global announce scale up program in Egypt to support pre-series A startups

500 Global, one of the world’s most active multi-stage venture capital firms, and The Egyptian Information Technology Industry Development Agency (ITIDA), announced the launch of 500 Global first batch of the Scale Up program in Egypt. The Scale Up program is focused on providing strategies and experimentation methodologies to accelerate growth for Pre-Series A startups in Egypt.

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2 March 2023

Kasada acquires Nairobi's former Crowne Plaza, with backing from IFC and Proparco

Kasada will use the financing package to refurbish, modernize, and expand the former Crowne Plaza in Nairobi's Upper Hill

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28 February 2023

BII invests in food business

British International Investment (BII), the UK's development finance institution (DFI) and impact investor, has announced a $50 million investment to Invictus Trading, a subsidiary of Invictus Investment and key partner handling the import activity for the DAL Group.

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14 February 2023

IFC leads US$17mn investment in South African insurtech Naked

Naked Insurance, a South African insurtech company that helps consumers to insure their cars, homes and valuables, has raised $17 million in Series B funding led by the International Finance Corporation (IFC).

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13 February 2023

Zephyr Acorn backs Power Financial Wellness

After working in Africa’s microfinance space for seven years, including at Botswana’s Letshego, Brian Dempsey took a break in 2020 to build Power Financial Wellness, operating out of Kenya.

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9 February 2023

€242m financing package for Senegalese cement maker

To support the decarbonisation of Senegal’s industrial sector, the IFC announced a partnership with Sococim Industries, Senegal’s largest integrated cement manufacturer, which will boost low-carbon cement production, create jobs and help bridge the country’s housing gap.

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6 February 2023

Oikocredit and Triodos IM provide € 10 million Tier II capital to Bridge Bank Group Côte d’Ivoire

The Ivorian bank, an affiliate of Bridge Group West Africa, finances local small and medium enterprises and supports job creation in the region.

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3 February 2023

Swedfund invests US$26mn in the African infrastructure fund AIIF4

On December 16, Swedfund invested USD 26 million in African Infrastructure Investment Fund 4 (AIIF4). It is an African infrastructure fund, managed by Africa Infrastructure Investment Managers (AIIM).

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2 February 2023

Norfund invests in South African food ingredient producer

Norfund, the Norwegian development finance institution, is investing R80 million (about US$4.mn) in convertible debt in Synercore Holdings, a South African food ingredient manufacturer, formulator and distributor to fast-moving consumer goods companies in Africa.

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2 February 2023

Convergence closes CPDIF at $296m

Convergence Partners has announced the successful closing of its Convergence Partners Digital Infrastructure Fund (CPDIF) at $296m, surpassing its initial target by over 18%.

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1 February 2023

Mediterrania leads investment in Moroccan pharmaceutical company

Mediterrania Capital Partners (MCP), a private equity firm that focuses on growth investments in small and mid-sized African companies, recently led a consortium that invested in Laprophan, a pharmaceuticals company in Morocco.

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1 February 2023

Renew Capital invests in Ethiopian audio book and podcast company

Renew Capital has recently invested in Teraki, an online audio platform based in Ethiopia, co-founded by Nahom Tsegaye and Abel Engida.The platform amplifies Ethiopia's rich tradition of storytelling by offering audiobooks and podcasts in various Ethiopian languages.

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1 February 2023

DEG, IFC, Lightrock, et. al back South African SME lender, Lulalend

In most African countries, access to credit remains limited for many small businesses, with the reasons ranging from the inability to pay collateral and lack of credit history to unfavorable lending criteria and high-interest rates.

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31 January 2023

Adenia Partners announces US$300mn first close for its fifth fund

Adenia Partners has announced the first close of its fifth flagship fund, Adenia V, with $300 million in commitments from investors.

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25 January 2023

AfricInvest Fund IV invests in Justrite

AfricInvest is pleased to announce it has taken a minority stake in Justrite, a leading Nigerian family owned retail department store.

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25 January 2023

Kasada to invest in new Abidjan hotel

Kasada, a real estate private equity platform dedicated to hospitality in sub-Saharan Africa, announced that it will build a new dual-branded hotel in Abidjan within the largest retail-led mixed-use development currently being developed by HC Capital Properties (HCCP). The complex, scheduled to open in 2024, will boast over 150 hotel keys, a shopping centre with over 60 stores, restaurants, a mini entertainment park, offices, a co-working space, and a clinic.

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25 January 2023

Norfund backs Ethiopia's largest FMCG platform SAMANU

Norfund and a consortium of private investors managed by 54 Capital announced a $21 million growth capital investment into Ethiopia's largest FMCG platform SAMANU.

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20 January 2023

South Africa: Proparco partners with Investec to scale up climate investments

Proparco and Investec Bank are collaborating to implement the Transforming Financial Systems for Climate (TFSC) programme in South Africa. The package comprises a senior credit facility of $80 million and a technical assistance programme.

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18 January 2023

Aruwa makes follow-on investment in AgroEknor

Aruwa Capital Management, an early-stage growth equity and gender lens fund investing in Nigeria and Ghana has made a follow-on investment in AgroEknor International, a fast-growing hibiscus flower exporter and wellness brand.

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17 January 2023

EIB invests in WeLight Madagascar’s access to energy initiative

WeLight Madagascar’s access to energy initiative will receive €19 million in financing from the EIB, Triodos Investment Management and EDFI ElectriFI — the EU-funded Electrification Financing Initiative. The financing will be used to build and develop small solar mini-grids in over 120 villages in rural Madagascar, expanding WeLight’s coverage from eight regions to 17. The project aims to serve around 250 000 people, providing more than 45 000 households and businesses with first-time access to clean, affordable and productive energy and light.

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13 January 2023

Norfund and Swedfund invest in South Sudan's SME sector

European development finance institutions Norfund and Swedfund have announced a $4 million follow-on loan to Kinyeti Venture Capital, a joint venture established in 2012 to provide risk capital to local small and medium enterprises (SMEs) in South Sudan.

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12 January 2023

Verod exits Daystar Power Group to Shell

Verod Capital Management via its Verod Capital Growth Fund II has fully exited from its investment in Daystar Power Group to Shell.

Member News

11 January 2023

FMO approves €25 million investment in Partech fund

The Dutch entrepreneurial development bank, FMO has approved a €25 million investment in the Partech Africa Fund Il.

Member News

11 January 2023

AfricInvest exits InstaDeep Ltd to BioNTech SE

Acquisition to enable creation of a fully integrated, enterprise-wide capability to discover, design and develop next-generation immunotherapies at scale by leveraging artificial intelligence and machine learning technologies across BioNTech’s therapeutic platforms and operations Builds on multi-year strategic collaboration between BioNTech and InstaDeep which included the formation of an AI Innovation Lab in 2020 and completion of dozens of joint projects Acquisition expected to add approximately 240 highly skilled professionals and a global network of research partners in the fields of artificial intelligence, machine learning and data science based in the world’s leading global technology hubs BioNTech to pay an upfront consideration of approximately £362 million in cash and BioNTech shares, to acquire 100% of remaining InstaDeep shares following BioNTech’s Series B investment in 2022 InstaDeep to operate globally from London headquarters as a BioNTech company post-closing, which is expected in the first half of 2023, subject to regulatory approval

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9 January 2023

Aruwa Capital makes follow on investment in Agroeknor

Aruwa Capital Management (“Aruwa”), an early-stage growth equity and gender lens fund investing in Nigeria and Ghana is pleased to announce a follow-on investment into AgroEknor International (“AgroEknor” or the “Company”), a fast-growing hibiscus flower exporter and wellness brand.

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6 January 2023

FMO provides funding for motorcycle financing in Kenya and Uganda

Dutch development finance institution FMO has provided a US$15 million and US$5 million senior term loan to Wat Credit Kenya and Wat Credit Uganda, respectively.

Member News

3 January 2023

EIB commits €300m to EM fund-of-funds

The European Investment Bank has disclosed a €300 million contribution to the launch of the new Global Gateway Fund (GGF). GGF is a flagship initiative supporting the EU's Global Gateway strategy, operating as a fund-of-funds focused on high impact equity and debt operations in emerging markets.

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3 January 2023

Oikocredit, Lion's Head funds back Solarise Africa

Dutch impact investor Oikocredit has partnered with Lion's Head Group-managed funds, the Facility for Energy Inclusion (FEI) and AfricaGoGreen (AGG), to invest $7 million in a $33.4 million multi-currency loan facility for Solarise Africa. The investment will support Solarise Africa's growing provision of affordable commercial and industrial (C&I) solar installations in Africa.

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30 December 2022

BluePeak invests in African asset leasing company Watu

BluePeak Private Capital's inaugural impact-driven fund has announced an investment of $20 million in Watu Africa, marking the fourth investment for the fund. Watu is an East African asset leasing company that focuses on improving mass-market mobility and has a presence in six countries across Africa. The company has financed over 400,000 two and three-wheeler vehicles since its inception.

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29 December 2022

Mediterrania exits Morocco's Akdital through an IPO

Mediterrania Capital Partners has sold part of its stake at Akdital through an IPO at the Casablanca Stock Exchange.

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26 December 2022

Seedstars Africa Ventures et al. invest in Egypt's Suplyd

Suplyd, an Egypt-based startup that digitises supply chain operations for the MENA region’s hotels, restaurants, and catering (HORECA) industries, has raised a US$1.6 million pre-seed funding round to help it scale faster.

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21 December 2022

Samata Capital, Future Africa et al. Invest in Uncover

Africa’s beauty and personal care market is growing, accelerated by its burgeoning young and fashion-conscious population, increased spending power and urbanization. The market’s potential has in recent years attracted major brands, with Fenty Beauty by Rihanna and LVMH being the latest entrants.

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20 December 2022

Verod Capital Management Exits Daystar Power Group to Shell

LAGOS, NIGERIA – 20 December 2022: Verod Capital Management Limited (“Verod”), one of Africa’s leading investment management firms, is pleased to announce that itsVerod Capital Growth Fund II has fully exited from its investment in Daystar PowerGroup (“Daystar”) to Shell Plc (“Shell”).

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16 December 2022

Mediterrania Capital Partners exits Akdital through an IPO at the Casablanca Stock Exchange (CSE)

Akdital, with the support of Mediterrania Capital Partners, has provided the largest IPO at the CSE since 2008. The national leader in the private clinic sector is the first healthcare company traded in the capital market in Morocco.

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16 December 2022

LeapFrog Investments invests US$70mn in Sun King

Debevoise & Plimpton LLP has advised LeapFrog Investments (“LeapFrog”) as lead investor in Sun King’s $70 million equity investment round, part of an extension of its initial $260 million Series D round.

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15 December 2022

British International Investment backs Zambian climate entrepreneurs

$50 million credit line provided to Zambia National Commercial Bank in a boost for small businesses and climate-related projects in Zambia

Member News

15 December 2022

BluePeak announce US$20mn investment in Watu Africa

BluePeak Private Capital's inaugural impact-driven fund announced an investment of US$ 20.0 million in Watu Africa, this marks the fourth investment of the fund. Watu is a leading East African asset leasing company focused on improving mass-market mobility. With a presence in 6 countries across Africa, the company has financed over 400k two and three-wheeler vehicles since inception.

Member News

14 December 2022

Future Africa launches US$25mn venture debt fund

TLG Capital and Future Africa have launched a US$25 million venture debt fund from TLG’s existing funds, earmarked for companies from the Future Africa portfolio who meet specified criteria.

Member News

13 December 2022

Sahel Capital successfully achieved the mandate of FAFIN in L&Z Integrated Farms Limited and Exits

Sahel Capital has exited L&Z Integrated Farms Limited, an integrated dairy processing company in Nigeria.

Member News

13 December 2022

Baylis invests in Legendary Foods Africa

GHANA – Legendary Foods Africa, a Ghanaian foodtech company focused on production of insect protein for human consumption, has bagged a growth equity investment from an Africa focused private equity firm, Baylis Emerging Markets.

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12 December 2022

Aruwa Capital Management invests US$2.5mn in Taeillo

Individuals or businesses buying furniture in Africa can purchase from local furniture stores or global furniture retailers like Ikea. But both options have pros and cons; for the latter, local furniture stores may lack the quality that clients need, while global retailers, in addition to taking several months to ship their products to Africa, can be too pricey.

Member News

5 December 2022

Female founded and led Aruwa Capital Management achieves final close on Fund I

Oversubscribed fund secures large backing from global institutional LPs Aruwa Capital Management (“Aruwa” or “Aruwa Capital”), a Lagos based female founded and led early-stage growth equity and gender lens investment fund, is pleased to announce the successful close of its first institutional fund, which was oversubscribed, surpassing its target of $20 million. The fund’s first institutional and anchor investor is Visa Foundation, followed by other investors such as Mastercard Foundation Africa Growth Fund, Nyala Venture, backed by Financial Sector Deepening Africa Investments and leading family businesses from Africa, Europe and the United States.

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2 December 2022

TPG-backed Evercare’s stake in Nairobi-based hospitals

KENYA – The Evercare Health Fund has sold its 54.9 per cent stake in Metropolitan Hospital Holdings to co-investor, The Metro Group, which currently holds a 41.8 per cent stake in the company.

Member News

2 December 2022