Impact investment firm Goodwell Investments has acquired a minority stake in Musoni Services, a company that provides banking software for microfinance institutions in Africa. Musoni Services, which has licensed its services to 39 microfinance institutions across eight countries in Africa and one in Myanmar, plans to use the new capital… Read More
Global alternative asset manager Global Environment Fund (GEF) has invested in Compagnie des Bois du Gabon, a vertically-integrated tropical forest harvesting and wood processing company that manages a contiguous forest concession near the southern coast of Gabon. The Grantham Foundation for the Protection of the Environment, a philanthropic organization, co-invested… Read More
Enko Capital Managers, an Africa-focused asset management firm, has reached a final close for Enko Africa Private Equity Fund (EAPEF) with US$83.25 million in capital commitments. Investors in the fund included development finance institutions Proparco and African Development Bank, boutique investment manager Massena Partners, private family office Soros Brothers Investments… Read More
Nigeria- and Ghana-focused private equity firm Synergy Capital Managers has invested in Nigeria-based petroleum products and gas storage company Africa Terminals. The transaction was structured through Synergy Private Equity Fund. The company, which offers storage to both local and multi-country petroleum products trading companies, will use the new funding to… Read More
West Africa-focused investment firm African Capital Alliance (ACA) has bought a 49 percent stake in Nigeria Stock Exchange-listed reinsurance company Continental Reinsurance from Morocco-based full line insurance company Saham Finances. The transaction was structured through ACA’s Capital Alliance Private Equity IV. Financial details of the transaction were not disclosed. … Read More
Nigeria-based integrated gas company Seven Energy International has secured US$100 million in financing from investors. Singaporean sovereign wealth fund Temasek, emerging markets-focused private equity firm Capital International Private Equity, multinational banking and financial services company Standard Chartered, development finance institution International Finance Corporation (IFC) and IFC subsidiary IFC Asset Management… Read More
Africa-focused asset management firm Investec Asset Management has reached a final close for Investec Africa Private Equity Fund 2 (IAPEF 2) with US$295 million in capital commitments. Investors in the fund included pension funds, endowments, funds of funds and development finance institutions. IAPEF 2 focuses on consumer sector businesses in… Read More
Amethis Finance, a fund manager that provides debt and equity financing to companies in Africa, and private equity fund manager PCM Capital Partners (PCP) have completed a follow-on investment through a capital increase and convertible bonds in Côte d’Ivoire-based oil and gas distributor Pétro Ivoire. The Kadio-Morokro family, the family… Read More
Technology-focused venture capital firm Amadeus Capital Partners has led a US$40 million financing round for South Africa-based online travel agency Travelstart. South Africa-based mobile telecommunications company MTN Group also participated in the round. Travelstart will use the new capital to expand into key markets and to grow its team and… Read More
Central Africa-focused private equity firm XSML has reached a first close for its African Rivers Fund with US$45 million in capital commitments. The fund will provide debt, equity and mezzanine financing to small- and medium-sized enterprises in Central Africa. Investors in the fund included development finance institutions International Finance Corporation,… Read More
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