Adenia Partners, a private equity fund manager focused on growth opportunities and mid-cap buyouts in Sub-Saharan Africa, has acquired a majority stake in Ademat, a business services company in Côte d’Ivoire active in the power sector. Adenia invested through Adenia Capital (III). Ademat distributes, installs and maintains power devices, inverters,… Read More
Africa-focused private investment firm Helios Investment Partners has agreed to acquire 49 percent of the voting rights in Oando Gas and Power (OGP), the midstream business subsidiary of Nigeria-based integrated oil and gas company Oando, for US$115.8 million. Upon completion of the deal, Oando will retain 49 percent of the… Read More
Growth equity and venture capital fund manager Oasis Capital Ghana has reached a first close for its second fund, Oasis Africa VC Fund (OAF), with US$27 million in capital commitments. Development finance institutions Dutch Good Growth Fund and International Finance Corporation have invested US$5 million and US$7 million, respectively, with… Read More
Africa-focused private equity firm Development Partners International (DPI) has agreed to subscribe to a US$100 million capital increase in Côte d’Ivoire-based financial services company Atlantic Business International (ABI). DPI invested through African Development Partners II. ABI has active banking and insurance operations in Côte d’Ivoire, Senegal, Burkina Faso, Benin, Togo,… Read More
Growth markets investor Actis has reportedly agreed to exit its 42.5 percent stake in South Africa-based shoe retailer Tekkie Town in a sale to South Africa-based holding company Steinhoff International. Actis originally acquired the stake in November 2014 for US$65 million. The investment is subject to approval by South Africa’s… Read More
West Africa-focused private equity firm African Capital Alliance (ACA) has reached a final close for Capital Alliance Private Equity IV (CAPE IV) with US$570 million in capital commitments. Investors in the fund include public and private pension funds, sovereign wealth funds, funds of funds and development finance institutions. ACA plans… Read More
In this Bulletin, our contributors focus on: Debt investment in India and whether Mauritius is now and will in future be a preferred investment route: Reviewing a protocol amending the agreement between India and Mauritius in relation to double taxation and challenges presented by India’s General Anti-Avoidance Rules, the treatment… Read More
Development finance institution International Finance Corporation (IFC) has led a US$15 million Series B round for South Africa-based financial technology company Zoona. Other participants in the round included financial services-focused venture capital firm Quona Capital, philanthropic investors Omidyar Network and the Lundin Foundation, South Africa-focused venture capital firm 4Di Capital… Read More
By Folake Adebowale and Joseph Eimunjeze, Udo Udoma & Belo-Osagie Nigeria’s economy is highly dependent on crude oil, which constitutes a major source of the country’s foreign exchange earnings and government revenue. As a result, the sharp decline in crude oil prices has adversely affected Nigeria’s foreign earnings and… Read More
West Africa-focused investment firm African Capital Alliance, Africa-focused private equity firm 8 Miles and development finance institution DEG have invested US$80 million for a minority stake in Nigeria-based biscuit manufacturer Beloxxi. DEG invested US$10 million in the round. The company will use the new capital to expand its capacity and… Read More
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