Private equity fund manager Phatisa has entered into a partnership with Kenya-based property developer Africa Reit to develop a six-acre residential rental complex in Nairobi. The transaction will be structured through Phatisa’s Pan African Housing Fund. Once completed, this project will provide homes to approximately 1,400 young adults. Financial details… Read More
Over the last six months, crude oil prices have fallen from over US$100 to less than US$50 per barrel. While the macroeconomic effects of this decline—falling commodity prices, currency volatility, trimmed economic growth forecasts and more—are far-reaching and varied, particularly in emerging markets, the effect of this drop on the private… Read More
Cyril Odu, Executive Partner and Head of Energy, African Capital Alliance Falling oil prices is a wakeup call that may accelerate some of the reforms that we are expecting in Nigeria. While it might signify bad news in the short term given the immediate implications for the economy, it could… Read More
ARM-Harith Infrastructure Investment Fund, a joint venture between Nigeria-based asset manager Asset & Resource Management Company (ARM) and pan-African infrastructure fund manager Harith General Partners, has held a first close with US$91 million in capital commitments. The fund, which will focus on the transportation, energy and utilities sectors in West… Read More
Pan-emerging markets private equity firm Actis has committed US$230 million to create Ostro Energy, a renewable energy platform focused on India. Ostro Energy’s first project is Tejuva, a 50MW wind project already under construction in Rajasthan. Separately, Actis has launched Lekela Power, a US$1.9 billion pan-African renewable energy platform. Actis… Read More
Private equity firm Ascent Capital has invested US$2.5 million in Ethiopia-based pharmaceutical company Medpharm Holdings Africa. The transaction was structured through Ascent Rift Valley Fund. Medpharm will use the investment to develop a pathology department, as well as to expand its presence throughout East Africa. Read More
Private investment fund manager One Thousand & One Voices has invested in South Africa-based RedSun Dried Fruit & Nuts, a processor and distributor of raisins. The company intends to use the financing to double its current workforce over the next year. Financial details of the transaction, which was structured through… Read More
Cordiant Capital, a fund manager specializing in emerging markets investments, and development finance institution International Finance Corporation (IFC) have provided a financing facility to Tanzania-based solar leasing company Off Grid Electric. The new facility consists of a US$4.5 million loan provided through the IFC Cleantech Innovation Facility and an additional… Read More
Private equity fund manager Phatisa has invested in Kenya-based General Plastics, a manufacturer of packaging products for the food, beverage and agro-chemical sectors. The company intends to use the capital injection to expand its operations across East Africa. Financial details of the transaction were not disclosed. Read More
Pan-African private equity firm AfricInvest, global growth markets investor The Abraaj Group and development finance institution Swedfund have entered into an agreement to sell their collective 37.3 percent stake in Kenya-based insurance provider UAP Holdings to Old Mutual Holdings, a wholly-owned subsidiary of insurance and banking group Old Mutual, for… Read More
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