AVCA | Member News

Member News

25 November 2024

IFC, EBRD, BII et al. launch US$500mn sustainability bond to advance Egypt’s green transition and MSMEs

Cairo, Egypt, November 24, 2024 – Arab African International Bank (AAIB) today issued a $500 million sustainability bond, with investments from IFC, the European Bank for Reconstruction and Development (EBRD), and British International Investment (BII), to advance Egypt’s green transition and micro, small, and medium-sized enterprises (MSMEs).

Member News

21 November 2024

IFU, Proparco et al. invest in tea deal in Morocco

IFU invests EUR 12.3 million in Imperium Holding as part of a EUR 25 million equity round. This strategic investment will drive the company’s ambitious growth plans, expand production capacity, and enhance employment opportunities for women in Morocco.

Member News

20 November 2024

Breega leads Socium’s US$5mn raise

After backing Senegal-based Socium in 2021, we’re proud to lead Socium’s $5M raise, and reaffirm our commitment to scaling impactful startups for the long term.

Member News

20 November 2024

Proparco and Admaius Capital Partners back Saint Christopher Iba Mar Diop Medical School

In Senegal, Proparco is partnering with Admaius Capital Partners to support Saint Christopher Iba Mar Diop Medical School through the FISEA+ facility. Established in Dakar in 2003, Saint Christopher has grown up into one of the largest private medical training institutions in Francophone Africa, with over 2,000 students currently enrolled in medicine, pharmacy, and dentistry programs.

Member News

19 November 2024

Sahel Capital provides US$610k term & working capital loan to Oyster Agribusiness

Sahel Capital, a prominent investment advisor in the food and agriculture sector in sub-Sahara Africa, has successfully advised Social Enterprise Fund for Agriculture in Africa (SEFAA) in the approval of a c.US$610K term loan and working capital loan. SEFAA aims to stimulate economic activities among smallholder farmers by empowering the social enterprises that engage with them.

Member News

12 November 2024

Sanari Capital announces R87.5mn investment in Energenic Holdings

Marks first investment into sustainable energy solutions offering energy security across the African continent for technology access and economic growth.

Member News

7 November 2024

Sahel Capital provides US$1mn term & working capital loan to Sukuma Commodities

Member News

7 November 2024

Seedstars Africa Ventures, Proparco et al. invest in Beacon Power Services

Accra, November 7, 2024 – Beacon Power Services (BPS), an energy tech company providing data and grid management solutions to help Africa’s power sector distribute electricity more efficiently, today announced the closing of a Series A financing round for an undisclosed amount. The round was led by Partech, with participation from Finnfund, Gaia Impact, Proparco, and previous investors Kaleo Ventures and Seedstars Africa Ventures. Additional investors in this round include Clermount, Global Brain and its CVC partner JGC MIRAI Innovation Fund, and On.Capital. Clermount acted as a financial advisor to Beacon Power Services in this transaction. The funding will enable BPS to enhance its product offerings, support growth in its current operations, and expand into new markets across Eastern and Southern Africa.

Member News

4 November 2024

Old Mutual Private Equity to purchase a stake in South Africa's Much Asphalt

Old Mutual Private Equity (OMPE) and Sphere Investments (Sphere) today announced that they have concluded an agreement with Johannesburg Stock Exchange listed AECI Limited to acquire 100% of Much Asphalt alongside the Much Asphalt Management team.

Member News

29 October 2024

DPI, Lightrock and Verod back Moniepoint in US$110 million Investment

Moniepoint Inc., Africa’s fastest-growing fintech, has successfully raised US$110 million in equity financing, to power the dreams of millions of businesses and their customers across Africa and the diaspora.

Member News

25 October 2024

Sahel Capital provides CapEx loan to Geneplus Global

Sahel Capital, a prominent investor in the food and agriculture sector in sub-Saharan Africa, has successfully approved a US$500,000 CAPEX loan from its Social Enterprise Fund for Agriculture in Africa (SEFAA) facility. 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

16 October 2024

Africinvest and Proparco finance Lapaire Glasses SA

AfricInvest and Proparco together approved financing for Lapaire Glasses SA, an optical retail chain offering quality eyewear at a fair price in West and East Africa (Ivory Coast, Benin, Togo, Mali, Burkina Faso, and Uganda). USD 2.5M in financing will be made available from AfricInvest and EUR 450k from Proparco, through its Bridge by Digital Africa facility, to support the improvement of optical care coverage on a continent where the WHO estimates that 80% of visually impaired people do not receive proper care. AfricInvest and Proparco’s financing will enable Lapaire to improve its territorial coverage in the countries where it currently operates while ensuring the expansion of its network in Senegal, the D.R. of Congo, and Tanzania.

Member News

15 October 2024

Africa50 leads US$42mn investment in BasiGo

Nairobi, Kenya - 23 October 2024 - Africa50, the pan-African infrastructure investor and asset manager, has led a new US$42 million funding round for BasiGo, a provider of sustainable e-mobility solutions in sub-Saharan Africa.

Member News

8 October 2024

Renew Capital backs ChipChip

Addis Ababa, Ethiopia, October 8, 2024 - ChipChip, an innovative e-commerce platform bringing consumers and suppliers together through group buying, has secured investment from Renew Capital as lead investor as well as other international co-investors. Since its launch, ChipChip has been changing how consumers purchase fresh produce and fast-moving consumer goods (FMCG) by enabling them to unlock bulk prices through collective purchasing.

Member News

8 October 2024

FMO invests US$25mn in the SANAD debt sub-fund

FMO invested USD 25mln in the SANAD Debt Sub-Fund for MSME to support small businesses in the Middle East and North Africa (MENA).

Member News

7 October 2024

Metier invests in maize meal producer

Metier Capital Growth Fund III invests in one of the largest independent maize millers in South Africa

Member News

4 October 2024

IFC, CDG Invest Growth et al. announce an investment in Retail Holding

Rabat, Morocco, October 4, 2024 – To boost access to affordable, high-quality food products in Morocco and Côte d’Ivoire, IFC, Fipar Holding, and CDG Invest Growth today announced an investment in Retail Holding, a leading Moroccan-based food and consumer goods retailer.

Member News

3 October 2024

IFC backs early-stage fund manager

Nairobi, Kenya, October 3, 2024 - IFC today announced an investment in Equator Africa Fund I, marking its first-ever investment in a venture capital fund entirely focused on supporting businesses and innovation in the climate sector.

Member News

2 October 2024

FEDA and AFC power ARISE IIP’s US$443mn capital raise

Dubai, 02 October 2024 — ARISE IIP, a leading pan-African developer and operator of world-class industrial parks, has announced a significant capital raise of US$443 million.

Member News

2 October 2024

Winich Farms secures US$3mn in Pre-Series A funding, backed by Climate Resilient Africa Fund, Sahel Capital and Acumen Resilient Agriculture Fund

Winich Farms, a Nigerian Agtech startup making the supply chain of farm produce seamless for all stakeholders, has secured $3 million in pre-series A funding to enhance its technology and optimize its operations. The round is a mix of equity and debt.

Member News

1 October 2024

Injaro’s Cape Verdean subsidiary invests in poultry business

Accra, October 01st , 2024 – Investment Capital Partners (“ICP”), a subsidiary of Injaro Investments (“Injaro”), is pleased to announce the successful completion of another investment transaction. This marks its second investment in Cabo Verde, through the Pro Impacto Fund. The investment was made in AGRA, Lda, (“AGRA”), a producer of poultry and animal feed which was founded in 2019, by a local entrepreneur with extensive industry experience and an ambitious vision of becoming the leading provider of fresh egg and animal feed in the country.

Member News

29 September 2024

Sahel Capital provides US$1mn term and working capital loan to Apple Orchards through SEFAA

Sahel Capital, a prominent investor in the food and agriculture sector in sub-Sahara Africa, has successfully approved a US$1,000,000 term and working capital loan from its Social Enterprise Fund for Agriculture in Africa (SEFAA) facility. 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

25 September 2024

African Infrastructure Investment Managers invests in CCH Greenbushes

African Infrastructure Investment Managers (AIIM), a division of Old Mutual Alternative Investments, has made a significant move to bolster South Africa’s cold chain infrastructure through the commissioning of CCH Greenbushes, a commercial cold storage facility which has been built in Gqeberha, Eastern Cape.

Member News

24 September 2024

Helios leads US$100mn Series D funding in M2P Fintech

Helios is delighted to announce it has led a $100m Series D Funding round in M2P Fintech, the fast growing BaaS and infrastructure API provider catering to the banking, fintech and non-financial services sectors, to support its expansion across Africa. M2P will join Helios’ strong financial services and fintech portfolio.

Member News

24 September 2024

Renew Capital invests in Chpter

Nairobi, Kenya, SEPTEMBER 24, 2024 — Renew Capital has invested in Chpter, an AI-powered conversational commerce platform that enables businesses to sell more on social media platforms such as WhatsApp and Instagram.

Member News

24 September 2024

AXIAN acquires a stake in WiASSUR

The pan-African AXIAN Group – through its subsidiary AXIAN Investment – a leading supporter of African start-ups, has announced the acquisition of a stake in WiASSUR, an innovative insurance start-up based in Côte d'Ivoire. This marks a key milestone for AXIAN Group's expansion strategy in this sector.

Member News

17 September 2024

FSD Africa invests in Holocene Ventures Fund

FSD Africa’s Early-Stage Finance Pillar is investing US$150,000 in Holocene Ventures Fund (HVF), a climate tech start-up venture capital provider that seeks to raise an initial US$2 million to invest in 12 high-impact climate businesses. HVF I will provide the track record and pipeline to raise a $30M pre-seed to series A climate tech fund in 2025. The investment by FSD Africa comes alongside investments from other angel investors across Europe, USA and Africa.

Member News

17 September 2024

Fund for Export Development in Africa (FEDA) announces strategic investment in Team Drogba

Kigali, 17 September 2024: The Fund for Export Development in Africa (FEDA), the development impact investment arm of African Export-Import Bank (Afreximbank), is pleased to announce a strategic investment in Team Drogba, competing in the inaugural E1 Series, the world’s first-ever all-electric boat racing championship. This investment aligns with Afreximbank’s Creative Africa Nexus (CANEX) strategy, which includes sports as a key vertical for advancing Africa’s economic and cultural footprint.

Member News

16 September 2024

Metier invests in global leader in telecommunications cable recovery and recycling, Mertech Marine

Metier Sustainable Capital Fund II invests in world leader in telecommunications cable recovery and recycling business

Member News

3 September 2024

IFC, Proparco, DEG, and DFC back Aspen in strengthening Africa's pharmaceutical sector

Johannesburg, South Africa, September 3, 2024 – To support the production and distribution of life-saving medicines and vaccines in Africa, IFC; Proparco; the German Development Finance Institution (DEG); and the U.S. International Development Finance Corporation (DFC), today announced a joint financing package for Aspen Pharmacare Holdings Limited (Aspen).

Member News

29 August 2024

Angolan Sovereign Wealth Fund (FSDEA) commits investment to BFA Asset Management’s Kimbo Fund

On 29th of August 2024, the Angola Sovereign Wealth Fund (FSDEA) formalised its entry into the Kimbo Fund, Angola’s debut private debt fund managed by BFA Asset Management (BFAAM), with an equity investment of USD 5 million. This investment will allow BFAAM’s Kimbo Fund to invest in businesses with high growth potential that generate income and are tackling key challenges in the local market aligned with the national economic diversification programme, including downstream agribusiness and logistics.

Member News

27 August 2024

Norfund & FMO platform invests in Omnisient

The USD 7.5 million ‘Series A’ investment will support data privacy and collaboration platform Omnisient’s mission to grow financial inclusion across Africa and beyond.

Member News

15 August 2024

Climate Resilient Africa Fund invests in Sea Gardener

CRAF has invested in Sea Gardener Inc., a company that taps into a $1 billion opportunity, re-imagining shellfish export from North Africa to the world

Member News

13 August 2024

Oikocredit invests to reduce global financing gap for smallholders

Social impact investor Oikocredit and the IDH Farmfit Fund have announced a partnership aimed at reducing the global financing gap for smallholder farmers. The two organisations have signed a collaboration agreement, committing to creating synergies in their sourcing and investment transactions. By aligning their approach and intensifying their collaboration, the Farmfit Fund and Oikocredit will create efficiencies that accelerate impact for smallholder farmers.

Member News

12 August 2024

AfDB Sustainable Energy Fund for Africa invests US$10mn to KawiSafi II clean-energy Fund

The Board of Directors of the African Development Bank Group has approved a $10 million junior equity investment in the KawiSafi II Fund to help local businesses create and expand climate projects that aid vulnerable communities. The approved financing will be deployed from the Sustainable Energy Fund for Africa (SEFA), a catalytic financing facility managed by the Bank Group.

Member News

1 August 2024

Proparco invests €20mn in Amethis Fund III to support African medium-sized enterprises

Proparco and Amethis continue their long-standing collaboration in support of the African private sector. This new investment by Proparco in the Amethis Fund III ("AF III") aims to support African medium-sized companies that provide quality goods and services on the continent.

Member News

31 July 2024

Old Mutual Alternative Investments invests to strengthen South Africa's food security

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.

Member News

29 July 2024

Swedfund invests US$10mn to support SMEs in Africa

Swedfund, Sweden’s development finance institution, has invested USD 10 million in Inside Equity Fund II, aiming to support small and medium-sized enterprises (SMEs) with impactful and innovative solutions in Zambia, Madagascar, Mauritius, Tanzania, Malawi and Mozambique.

Member News

23 July 2024

Adenia Partners invests in pan-African growth with acquisition of Air Liquide subsidiaries

Adenia Partners “Adenia” has completed the acquisition of Air Liquide's operations in 12 African countries, giving birth to Erium, the first pan-African leader in industrial and medical gases.

Member News

21 July 2024

Sango Capital acquires majority stake in Synergy Private Equity Fund

Sango Capital has acquired a majority of the Limited Partner (“LP”) interests in Synergy Private Equity L.P. (“the Fund”). Synergy Managers (Mauritius) Limited will continue as the General Partner (“GP”) of the Fund, whilst Sango will support the GP in value creation- and liquidity initiatives.

Member News

18 July 2024

Aruwa Capital invests in hibiscus processing to support women farmers

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

Member News

10 July 2024

BII invests $20mn to reduce Africa's remittance costs

Remittance costs for Africa are the highest globally. Reducing remittance costs is critical to increasing capital flow into Africa and building financial resilience. BII’s investment will support an increased volume of remittance transactions into Africa, by pre-funding over $1 billion worth of transactions per year.

Member News

10 July 2024

Sanari Capital invests R80mn to expand affordable quality education in South Africa

Sanari Capital, a private equity firm that invests in medium-sized and mid-market growth companies emanating from Africa, has announced a R80 million follow-on investment in EduLife Group. The investment will allow EduLife Group to further entrench their schools in existing regions and expand into other provinces.

Member News

10 July 2024

FMO invests US$10mln to support African enterprises

To further empower African enterprises, FMO announced that it will support its long-time partner, the Regional MSME Investment Fund for Sub-Saharan Africa (REGMIFA) through a USD 10 mln investment. FMO is putting in an extra USD 10 million into B-shares, showing its strong commitment since 2010. This new funding will help REGMIFA grow its portfolio across Sub-Saharan Africa, offering crucial financial support to micro, small, and medium-sized businesses, as well as low- and middle-income households through selected financial institutions.

Member News

4 July 2024

Swedfund invests €30mn in urban resilience fund

Swedfund has invested EUR 30 million in The Urban Resilience Fund (TURF), managed by Meridiam, to address the pressing challenges of climate change and urbanisation in Africa, primarily in Sub-Saharan Africa.

Member News

2 July 2024

Renew Capital invests in South African agricultural financing startup

Africa’s agricultural sector plays a significant role in the continent's economy, contributing about 35% to the GDP and supporting the livelihoods of nearly half of Africa's 1.4 billion population. Despite its immense potential, agriculture faces a funding gap hindering its growth. Pumpkn, a South African startup, is actively addressing this challenge by offering and facilitating financial support for agribusinesses.

Member News

1 July 2024

IFC appoints Martine Valcin as Country Manager for Rwanda, Tanzania, and Uganda

IFC today announced the appointment of Martine Valcin as its new Country Manager for Rwanda, Tanzania and Uganda. With more than 25 years of experience in corporate and sustainable finance, ESG, and capital markets, Valcin will lead IFC's efforts in the three countries to drive private sector development and deliver sustainable and inclusive economic growth.

Member News

1 July 2024

Convergence Partners acquires Datacentrix

On 17 January 2024, Datacentrix announced that Convergence Partners, through its Convergence Partners Digital Infrastructure Fund (“CPDIF”), alongside the existing Datacentrix management team, entered into a definitive agreement with Alviva Holdings (Pty) Ltd to acquire 100% of Datacentrix. The agreement was subject to the fulfilment of conditions and regulatory approval. Datacentrix is pleased to announce that all conditions precedent have been met. The Competition Commission and Independent Communications Authority of South Africa have unconditionally approved the transaction.

Member News

25 June 2024

BII commits $75mn to boost MSME climate financing in Africa

British International Investment (BII), the UK’s development finance institution (DFI) and impact investor, has committed $75 million to the second Green Basket Bond arranged by Symbiotics Investments, a leading emerging markets access platform and financial lender. The green lending programme will increase financing to small-scale green projects across Africa, South and South-East Asia through MSME lenders, with a particular focus on India. It will support new MSME lenders not included in the first Green Basket Bond.

Member News

18 June 2024

BII commits up to US$25m for Meridiam's Rift Valley Energy projects in Tanzania

British International Investment (BII), the UK's development finance institution (DFI) and impact investor, today signed an agreement to provide $15m with the potential to increase this to $25m, to renewable energy platform Rift Valley Energy (RVE), owned and managed by Meridiam. The funding will support part of RVE's ambitious investment and development plan for future renewable energy projects in Tanzania.

Member News

13 June 2024

Oikocredit partners with AfricInvest Private Credit to boost SME Growth across Africa

Social impact investing cooperative Oikocredit has made a first-time loan of US$ 10 million (€ 9.3 million) to AfricInvest Private Credit (APC) to augment support for small and medium enterprises (SMEs) throughout Africa.

Member News

11 June 2024

Renew Capital invests in African beauty industry innovator

Renew Capital is an Africa-focused impact investment firm that backs innovative companies with high-growth potential such as Zuri (myZuri.com), a tech-enabled beauty company that seeks to transform the African beauty industry with high-end, beauty products designed by Africans.

Member News

11 June 2024

Admaius Capital Partners acquires leading certified reference materials manufacturer

Admaius Capital Partners (“Admaius”), an Africa focussed private equity investor operating across several growth markets, today announced the acquisition of The Particle Group (“TPG” or “the Company”), one of the world’s leading manufacturers of Certified Ref- erence Materials (“CRM”) for the metals and mining industries.

Member News

11 June 2024

AfricInvest acquires stake in East African banking group from BII

AfricInvest, a leading Pan-African Asset Management platform, has acquired a 10.1 per cent stake in I&M Group PLC (‘I&M’), the Eastern African banking group, from British International Investment (‘BII'), the UK’s development finance institution and impact investor. The acquisition was made through East Africa Growth Holding, a special purpose vehicle entirely controlled and formed by AfricInvest.

Member News

10 June 2024

IFC co-partners to expand access to quality healthcare in Africa

IFC and Lenmed Hospital Group (Lenmed) today announced a partnership to increase access to quality healthcare, especially in underserved communities, in South Africa, Botswana, Ghana, and Mozambique.

Member News

2 June 2024

Janngo Capital and FMO co-invest in Moroccan agritech startup

YoLa Fresh, a Moroccan agritech startup building a transparent and sustainable fresh food supply network, today announced it has secured a $7 million pre-Series A funding round. The round was led by Al Mada Ventures with participation from Algebra Ventures, E3 Capital, Janngo Capital, and FMO, the Dutch entrepreneurial development Bank.

Member News

31 May 2024

P1 Ventures and Ventures Platform invest in Nigerian-based financial services company Brass

Nigeria-based financial services company Brass has been acquired by an investment group led by Paystack, with participation from PiggyVest, Ventures Platform, P1 Ventures, and angel investors Oo Nwoye and Olumide Soyombo.

Member News

29 May 2024

Janngo Capital leads €4.3mn investment in mobile marketing platform

Janngo Capital's involvement in LAfricaMobile's €4.3 million Series A fundraising round highlights its commitment to investing in companies that leverage technology to enhance communication and marketing capabilities for African businesses.

Member News

29 May 2024

EIB Global invests €25mn in Amethis Fund III

The European Investment Bank’s EIB Global arm has invested €25 million in Amethis Fund III, a pan-African fund providing private equity growth capital to medium-sized companies on the continent.

Member News

28 May 2024

BII invests US$30mn to support African telecom infrastructure expansion

BII is providing $30mn anchor commitment, alongside other anchor investors including IFC, DEG and the Emerging Africa Infrastructure Fund. The funding will help the independent telecom infrastructure company refinance its existing debt and support its business which serves more than 144 million people on the continent.

Member News

22 May 2024

Injaro acquires stake in leading Ghanaian out-of-home advertising firm

Injaro Investment Advisors, a Ghanaian private capital fund manager, is delighted to announce the acquisition by its fund, Injaro Ghana Venture Capital Fund (IGVCF) of Outdoor Holding Limited (OHL), which controls a majority stake in DDP Outdoor Ltd (‘DDP’). Financial terms of the transaction were not disclosed.

Member News

21 May 2024

Admaius Capital Partners invests in Senegalese medical school

Admaius Capital Partners (“Admaius”), an Africa-focused private equity investor, today announced the acquisition of 100% of St. Christopher Iba Mar Diop College of Medicine. The medical school, widely-known as ‘St. Christopher’, was founded in 2003 and is based in Dakar, Senegal.

Member News

20 May 2024

IFC invests US$45mn to expand Tanzanian glass manufacturer

IFC is supporting the expansion of Tanzanian glass manufacturer Kioo to meet increasing domestic and regional demand for glass bottles and containers, the two entities announced today. The project will create thousands of jobs and contribute to economic growth in Tanzania.

Member News

17 May 2024

IFC co-invests US$210mn to expand biofuel production in Kenya

IFC and the Italian Climate Fund today announced a $210 million investment in Eni S.p.A.'s Kenya subsidiary to expand the production and processing of advanced biofuels, supporting the decarbonization of the global transport industry and the livelihoods of up to 200,000 small-scale Kenyan oilseed farmers.

Member News

15 May 2024

Alterra Capital leads acquisition of chill beverages with AAA Fund

Alterra Capital Partners has partnered with Mineworkers Investment Company (“MIC”) and Admaius Capital Partners, together the (“Alterra Consortium”), to acquire a majority stake in Chill Beverages (“Chill”) from Old Mutual Private Equity. This acquisition marks the first investment by Alterra’s Africa Accelerator Fund (“AAA Fund”) and demonstrates the Alterra Consortium’s commitment to support African companies in their growth journeys.

Member News

14 May 2024

IFC invests US$150mn in economic development projects across Africa

IFC announced a $150 million commitment to four investment and advisory projects that will support economic development in Egypt and other parts of Africa in key sectors including healthcare, trade, and finance.

Member News

9 May 2024

Admaius backs Rwandese telecommunications operator and developer

Admaius Capital Partners (“Admaius”), an Africa focused private equity investor operating across several growth markets, today announced its majority equity investment into TRES Infrastructure Limited (“TRES” or “the Company”), the only local licensed tower owner, operator, and developer of shared telecommunications infrastructure in Rwanda.

Member News

8 May 2024

P1 Ventures backs Egypt-based company

P1 Ventures' investment in MNZL's $3.5 million funding round highlights its dedication to supporting innovative ventures that use technology to meet essential financial needs and promote economic growth. MNZL, a pioneering fintech startup, aims to revolutionize the lending landscape in Egypt and the MEA region.

Member News

7 May 2024

Ascent Rift Valley Fund II invests in leading East African packaging solutions provider

In a strategic move to bolster growth and expand its market presence, Dune Packaging Ltd, a leading packaging solutions provider in East Africa has announced a significant minority equity investment in its business by Ascent Rift Valley Fund II (“Ascent”), the premier SME focused Private Equity Fund in East Africa (the “Transaction”).

Member News

29 April 2024

FMO invests US$10mn in Africa focused VC Fund

FMO, the Dutch entrepreneurial development bank, has committed $10 million to TLcom’s second Africa-focused VC fund, TIDE Africa II, which announced its final close at $154 million on 22 April 2024. In addition to FMO, which is investing through the FMO Ventures Program, other LPs include the European Investment Bank, AfricaGrow, Visa Foundation and Bertelsmann.

Member News

25 April 2024

Standard Bank invests in climate infrastructure-focused fund

Standard Bank has committed to Acre Impact Capital’s Export Finance Fund I to support the financing of sustainable projects in Africa.

Member News

23 April 2024

Renew Capital in Kenyana B2B platform

Renew Capital recently made an investment in the B2B platform Farm to Feed, which targets unused produce, enhancing sustainability and farmer livelihoods

Member News

18 April 2024

TLG provides US$3mn facility to ethical debt collection

TLG Capital, a leading pan-African alternative asset manager, has forged a strategic partnership with BFREE, a pioneering ethical debt collection startup based in Nigeria. With a $3m facility, TLG will empower BFREE to spearhead a transformative shift in ethical loan collection services across the continent.

Member News

15 April 2024

Renew Capital investments in Mozambican fintech platform

Renew Capital's recent investment in Mozambican fintech platform Roscas highlights its commitment to empowering underserved communities and enhancing financial accessibility. By backing ventures like Roscas, Renew Capital aims to nurture economic resilience and expand the reach of essential financial services across sub-Saharan Africa.

Member News

10 April 2024

Injaro invests €2mn in West African packaging leader

Injaro Investment Advisors, a Ghanaian private capital fund manager, is excited to announce a EUR 2M equity investment in Nouvelle Mici Embaci (“NME”), one of the leading packaging companies in Côte d'Ivoire and Francophone West Africa. This marks the second investment made by the Injaro Ghana Venture Capital Fund (“IGVCF” or the “Fund”), and the Fund’s first investment in Côte d'Ivoire.

Member News

9 April 2024

Renew Capital invests in Ghana for financial inclusion

Renew Capital has made an investment in Ghana's Affinity, a full-scale digital bank that was established with a vision to provide banking services to 350 million adults who remain unbanked in Africa.

Member News

8 April 2024

Africa50, Injaro, and Verdant invest in fintech expansion in Africa

The investment was led by Africa50 and Oikocredit, with participation from Injaro Ghana Venture Capital Fund (IGVCF) and Verdant Capital Hybrid Fund. The transaction also included a follow-on investment from Investisseurs & Partenaires (I&P), through its I&P Afrique Entrepreneurs II (IPAE 2) investment vehicle. The investment will support the expansion of Zeepay’s cross-border remittances and mobile financial services businesses across Africa and the Caribbean.

Member News

28 March 2024

Open Society invests US$25mn to boost global climate projects

The Soros Economic Development Fund (SEDF), the impact investment arm of the Open Society Foundations, is committing $25 million to Allied Climate Partners (ACP)—a new and innovative public-private partnership focused on increasing the number of bankable climate projects in emerging markets and developing economies around the world.

Member News

22 March 2024

AfDB, BII, DEG, FMO, IFC and others invest in fertilizer production in Nigeria

IFC today announced a $1.25 billion financing package alongside partners to Indorama Eleme Fertilizer and Chemicals Limited in Nigeria. The investment will allow Indorama to ramp up its fertilizer production and develop a port terminal for exports, supporting food production and food security across regional and international markets, while fostering job creation in Nigeria.

Member News

20 March 2024

IFC partners in US$5mn investment to boost African startup ecosystem

To bolster the startup ecosystem in Africa, IFC today announced a $5 million equity investment in P1 Ventures, a pan-African venture capital fund focused on pre-seed and seed stage investments in fintech, health, e-commerce marketplaces, and software.

Member News

19 March 2024

AfricInvest in $100mn series B global mobility fintech deal

AfricInvest recently participated in Moove's $100 million Series B funding round, which included contributions from Uber and Mubadala, valuing Moove at $750 million. This investment reflects AfricInvest's commitment to supporting transformative ventures that enhance financial inclusion and mobility solutions.

Member News

19 March 2024

Admauis Capital Partners invests in Egyptian healthcare and wellness company

Admaius Capital Partners (“Admaius”) (www.Admaius.com), an Africa focussed private equity investor operating across several growth markets, today announced a strategic partnership with Parkville Holding Company B.V. (“Parkville” or the ‘Company’), a leading healthcare and wellness company in Egypt operating across several high-growth sub-segments.

Member News

11 March 2024

Aruwa Capital Management co-leads US$3mn investment in diagnostics service provider

Aruwa Capital Management, an early-stage growth equity and gender lens fund investing in Nigeria and Ghana, is pleased to announce a $1.5 million investment into MDaaS Global (“MDaaS” or the “Company”), a modern, tech-enabled healthcare company enabling clinically underserved communities, access to quality and affordable healthcare and diagnostic services across Africa. The round was co-led by Aruwa Capital Management and Newtown Partners, an existing investor along with participation from Ventures Platform.

Member News

8 March 2024

Bpifrance co-invests in global technology investment firm

Mubadala Investment Company (“Mubadala”), an Abu Dhabi-based global sovereign investor, and Bpifrance, the French public investment bank, today announced a joint investment in global technology investment firm Partech's latest Africa-focused venture capital fund, Partech Africa II.

Member News

4 March 2024

IFC invests US$5mn to support trade development in Guinea

To help boost trade in Guinea amidst local and global challenges, IFC announced a trade finance facility of up to $5 million for Coris Bank International Guinea (CBI Guinea).

Member News

28 February 2024

DEG's €1.9bn investment drives sustainable development impact

Deutsche Investitions- und Entwicklungsgesellschaft mbH ("DEG"), continued to forge ahead in 2023 despite a still challenging environment: It committed a new record volume of EUR 1.9 billion for private investments in developing and emerging countries (2022: EUR 1.6 billion). DEG mobilised a further EUR 613 million from other investors, significantly more than in the previous year (2022: EUR 487 million). The DEG portfolio grew to EUR 10.3 billion.

Member News

21 February 2024

AFC investment in AMCE Nigeria

Africa Finance Corporation (AFC), the continent's leading instrumental infrastructure solutions provider, today signed an equity investment term sheet, pledging up to US$40 million towards the construction of the African Medical Centre of Excellence (AMCE) Abuja hospital. The visionary 500-bed medical health facility is currently being developed by Africa Export-Import Bank (Afreximbank), the leading trade finance bank for Africa, in partnership with King’s College Hospital, London (KCH). The agreement was signed at the inaugural AMCE African Health Forum in Abuja.

Member News

21 February 2024

Verod invests in West Africa's top fitness chain

Verod, a leading prominent African investment management firm specialising in private equity and venture capital, has invested in i-Fitness, West Africa’s largest and fastest-growing fitness chain. This investment is the most recent investment from the Verod Capital Growth Fund III, marking the sixth addition to the fund’s portfolio.

Member News

15 February 2024

UBS Optimus Foundation and SEDF invests US$20mn in East Africa oxygen project

Hewatele, a medical oxygen producer in Kenya, has secured a 20 million USD funding package from Finnfund, DFC (the U.S. International Development Finance Corporation), SEDF (Soros Economic Development Fund), UBS Optimus Foundation and Grand Challenges Canada. Hewatele will use the debt and equity funds raised to finance the building of a liquid oxygen(LOX) manufacturing facility some 20kms in the outskirts of City of Nairobi, together with regional distribution capacity at key strategic regions within Kenya, while also doubling its existing capacity at hospital-based sites to produce and distribute medical oxygen using pressurized gas cylinders (GOX).

Member News

12 February 2024

Swedfund's investment fuels financial inclusion in West Africa

Swedfund invests USD 5 million in a loan to Teyliom Finance, a subsidiary of Teyliom Group, a leading pan-African group active in five industries, across twelve countries. The investment is directed towards Bridge Bank Microfinance to strengthen financing for micro, small and medium sized enterprises (MSMEs) and is expected to enhance financial empowerment of women in Côte D'Ivoire.

Member News

12 February 2024

Amethis invests in North African data management consultancy firm

Amethis completes a minority investment in BBI, the leading data management consultancy firm in the MENA region.

Member News

7 February 2024

EIB invests €115mn in MEDZ for Moroccan technology park expansion

The EIB is providing €115 million (approximately MAD 1.3 billion) to MEDZ, a wholly owned regional development subsidiary of CDG Group, to expand and modernise ten technology parks strategically located in five Moroccan regions. This financing reaffirms EIB cooperation with CDG Group.

Member News

5 February 2024

Old Mutual announces investment in Afropulse Group

Old Mutual Alternative Investments (OMAI), through its Hybrid Equity capability, a specialist in innovative financial solutions, today announced a transformative R125 million preference share facility to Afropulse Group, a wholly black women-owned investment holding company, to restructure its funding, which is backed by an equity interest in Imperial Logistics South Africa, one of the country’s largest logistics firms.

Member News

1 February 2024

Avanz Capital takes stake in Egyptian-based Bosta

Avanz Capital Egypt (ACE), the Egyptian private capital arm of Avanz Capital Management, and the General Partner of Avanz Manara for Private Equity (Avanz Manara) announced the investment in Bosta through Avanz Manara alongside other reputable institutional private capital firms. This investment aligns with the Avanz Manara mandate of supporting the growth of small and medium enterprises (SMEs) in Egypt by making direct co-investments in SMEs or investing in SME focused private equity and venture capital funds.

Member News

30 January 2024

Swedfund Invests in SME growth in francophone Africa

Sweden’s Development Finance Institution, invested 15 MEUR Joliba Capital Fund I. The investment will enable growth of small and medium sized companies which are key for private sector growth and job creation in the least developed regions of Francophone Africa.

Member News

25 January 2024

FMO invests US$10mn in clean energy distribution in Africa

FMO, the Dutch Entrepreneurial Development Bank, has provided climate fintech platform Nithio with a USD 10 mln in funding for its investment vehicle, FAIR: the Facility for Adaptation, Inclusion, and Resilience. FAIR provides financing to companies offering clean energy solutions to households and small enterprises in Africa.

Member News

25 January 2024

Renew Capital invests in Sawa Energy

Renew Capital has invested in Sawa Energy, a pioneering company in East Africa focused on democratizing access to solar power for small and medium-sized enterprises. By eliminating upfront costs and operational fees, Sawa Energy aims to revolutionize the energy landscape in Rwanda and Uganda.

Member News

23 January 2024

IFC invests in Sonatel's securitization for Senegal connectivity

To help expand reliable 4G coverage in Senegal, especially to rural and underserved parts of the country, IFC today announced anchor investments in two bonds issued by a securitization vehicle of Sonatel, a leading mobile network operator in West Africa.

Member News

22 January 2024

British International Investment invests in Ghana's eSAL expansion

Growth Investment Partners (GIP) Ghana, a platform created by British International Investment (BII), the UK’s development finance institution and impact investor, today announced its first investment in Ghanaian Business Process Outsourcing (BPO) company E-Services Africa Limited (eSAL). The investment will support eSAL’s growth and its global delivery of cost-effective and high-quality outsourcing solutions for businesses.

Member News

12 January 2024

IFC invests US$30mn in AIIM Fund

To boost essential infrastructure development in countries across Africa, IFC announced a $30 million equity investment in the Africa Infrastructure Investment Fund 4 Partnership (AIIF4).

Member News

11 January 2024

British International Investment commits US$40mn to Apis Growth Markets Fund III

British International Investment ("BII"), the UK’s development finance institution and impact investor, today underlined its support for fintech entrepreneurs with a $40 million commitment to a new Apis fund – the Apis Growth Markets Fund III (“Apis III”). Apis Partners LLP (“Apis”) is a UK-based private equity firm investing exclusively in high-growth, capital-light, tech-enabled financial services businesses globally.

Member News

10 January 2024

EIB invests US$30mn in Seedstars Africa Ventures

Innovative businesses and start-ups across Africa will benefit from better access to risk capital thanks to a US$30 million equity investment by EIB Global in the Seedstars Africa Ventures I venture capital fund. Increased access to capital will allow companies to grow, creating skilled jobs and improving products and services for businesses and consumers.

Member News

9 January 2024

Africa50 reaches first close with US$222.5mn

Africa50 Group, the pan-African infrastructure investment platform announced today the successful first close of the Africa50 Infrastructure Acceleration Fund (Africa50 – IAF) on December 29th, 2023 - securing $222.5 million in commitments.

Member News

8 January 2024

IFC commits €300m loan for renewable energy expansion.

The International Finance Corporation (IFC) announced today a green and sustainability-linked loan (SLL) of €300 million (equivalent to $329 million) to Iberdrola. IFC's loan will finance renewable energy projects in emerging markets, including a number of countries that currently rely heavily on coal, such as Morocco, Poland, and Vietnam. IFC has already committed a first tranche of €170 million, which will finance onshore wind projects in Poland.

Member News

8 January 2024

Norfund partners to provide financing for power transmission and distribution

Norfund has partnered with Affirma Capital and KLP to provide financing for CEC, an independent power transmission and distribution company in Zambia.

Member News

2 January 2024

EIB commits €400mn in renewable energy transition

The European Investment Bank (EIB) has committed €400 million to support a significant new investment for MYTILINEOS Energy and Metals (MYTILINEOS), which will accelerate renewable energy production across Greece and other EU states.