AVCA | Member News

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

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

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

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

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.

Member News

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.

Member News

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.

Member News

2 June 2023

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

Member News

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.

Member News

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).

Member News

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.

Member News

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.

Member News

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.

Member News

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.

Member News

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.

Member News

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.

Member News

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.

Member News

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

Member News

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.

Member News

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.

Member News

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).

Member News

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.

Member News

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).

Member News

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.

Member News

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.

Member News

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.

Member News

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.

Member News

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.

Member News

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.

Member News

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.

Member News

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.

Member News

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.

Member News

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.

Member News

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.

Member News

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.

Member News

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.

Member News

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.

Member News

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.

Member News

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.

Member News

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.

Member News

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

Member News

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.

Member News

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).

Member News

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.

Member News

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.

Member News

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.

Member News

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).

Member News

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.

Member News

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%.

Member News

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.

Member News

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.

Member News

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.

Member News

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.

Member News

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.

Member News

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.

Member News

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.

Member News

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.

Member News

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.

Member News

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.

Member News

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.

Member News

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

Member News

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.

Member News

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.

Member News

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.

Member News

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.

Member News

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.

Member News

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.

Member News

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.

Member News

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”).

Member News

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.

Member News

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.

Member News

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.

Member News

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.

Member News

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