Member News
28 February 2024
DEG's €1.9bn investment drives sustainable development impact
Deutsche Investitions- und Entwicklungsgesellschaft mbH, 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
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
21 February 2024
CardinalStone exits stake to Verod Capital
CardinalStone Capital Advisers (“CCA”), a West Africa focused private equity firm, is pleased to announce that its CardinalStone Capital Advisers Growth Fund (“CCAGF”) has successfully sold its stake in i-Fitness Nigeria Limited (“i-Fitness”), to Verod Capital Management Limited (“Verod”).
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
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
13 February 2024
Injaro announces final close of Ghana Venture Capital Fund
Injaro Investment Advisors Limited is excited to announce the successful final close of its multi-sector Ghana Cedi-denominated private equity fund – the Injaro Ghana Venture Capital Fund (IGVCF). The Fund, which is backed by local pension funds, achieved a final close with an AUM of GHS 216M on December 29, 2023.
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
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
8 February 2024
Sahel Capital Provides US$1.5mn trade finance
Sahel Capital, a prominent investor in the food and agriculture sector in sub-Sahara Africa, has successfully approved a US$1.5 million Trade Finance 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
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
DLA Piper appoints new Managing Partner for Nigeria office
DLA Piper Africa’s Nigeria office (Olajide Oyewole LLP) has announced the appointment of Mrs Bola Tinubu as its Managing Partner, effective 1 January 2024. Bola succeeds Mr Tunde Oyewole who will now serve as Chairman of the Nigeria Firm’s Board.
Member News
1 February 2024
Avanz Capital takes stake in Egyptia-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. Avanz Manara is an Egyptian direct investment company regulated by FRA and was established in 2022 by predominant Egyptian banks and financial institutions.
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
26 January 2024
 Carlyle Africa exits Amecor
Global investment firm Carlyle (NASDAQ: CG) today announced it has agreed to sell Amecor, a South African designer, manufacturer and distributor of security communication equipment, to ASSA ABLOY Group. The financial details of the transaction were not disclosed.
Member News
25 January 2024
Renew Capital invests in Sawa Energy
Confronting the critical challenge of energy in East Africa, Sawa Energy is changing how small and medium businesses access power. With operations in Rwanda and Uganda, Sawa Energy eliminates upfront costs, making solar and energy-efficient solutions more accessible and affordable.
Member News
25 January 2024
UBS Optimus Foundation finalises seed funding round
Elucid, aBerlin-based sustainability tech firm, is excited to announce the successful close ofits Seed II funding round. Following the first closing ofthe round in August 2023,the recent investment from UBS Optimus Foundation marks the finalization of Elucid's seed funding round. This investment will help scale Elucid’s geographical reach in Africa and South America, strengthen its centralteam, and further enhance its digital platform. This significant milestone reflects the support ofimpact-focused investors who are backing Elucid's mission to transform supply chains and enhance the health and livelihoods of smallholder producers.
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
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 today 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, 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. The fund will invest in companies developing and implementing digital technologies, in particular those addressing basic needs such as education, healthcare and utilities, or enhancing goods, services and efficiency.
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
9 January 2024
British International Investment co-leads €14mn loan 
British International Investment (BII), the UK development finance institution (DFI) and impact investor, has committed a senior loan of €14 million to COFINA Côte d’Ivoire, a specialist meso-finance lender, to support the growth of Micro-, Small- and Medium-sized Enterprises (MSMEs) and advance gender finance.
Member News
9 January 2024
Lexington Partners raises $22.7bn for global secondary fund
Lexington Partners (“Lexington”), a leading manager of secondary acquisition funds, today announced the completion of fundraising for Lexington Capital Partners X, L.P. (“LCP X”) with $22.7 billion of total capital commitments. The fund surpassed its $15 billion fundraising target and significantly exceeded Lexington’s prior secondary fund, LCP IX, which closed on $14 billion in 2020.
Member News
8 January 2024
Alitheia Capital joins the United Nations Global Compact initiative
Alitheia Capital, a pioneering impact investing firm based in Lagos, Nigeria, has today announced that it has joined the United Nations Global Compact — a voluntary leadership network for the development, implementation, and disclosure of responsible business practices. 
Member News
8 January 2024
Norfund partners to provide financing for power transmission and distribution
Affirma Capital (formerly Standard Chartered Private Equity (“SCPE”)) has led a US$145 million investment into CEC in an unprecedented single-asset continuation deal in Africa. The private equity firm originally invested in CEC in March 2014 via a structured equity investment backing the Company’s controlling shareholder. In March 2018, Affirma Capital converted its investment into a 34.64% shareholding in CEC.
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
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.