CDC Group has made a USD12m follow-on investment in Miro Forestry, a sustainable forestry and timber business with operations in Ghana and Sierra Leone. The investment is part of the company’s USD48m funding round. Read more… Read More
Proparco, Kibo Capital, Ciel Limited, and other shareholders of Mauritius-based healthcare center management company Ciel Healthcare invested USD2.5m in its Ugandan subsidiary International Medical Group (IMG). IFC also approved a USD4m loan to IMG to finance a liquidity shortfall that resulted from the COVID-19 pandemic. Read more… Read More
Sanlam has signed an agreement with African Rainbow Capital Financial Services (ARC FS) to own an approximate 25% economic interest in Sanlam’s South African third-party asset management business. The transaction is subject to regulatory approvals and will establish one of the largest black-empowered asset management companies in the… Read More
African telecom towers operator Helios Towers, a company backed by Helios Investment Partners, has agreed to acquire the passive infrastructure assets of Senegal-based mobile network operator Free Senegal, for a total of 1,200 sites, for EUR160m (approximately USD188m). The transaction is expected to close by Q1 2021 and… Read More
FMO and Global Ventures led a USD3.5m investment in Egypt-based digital payments platform Paymob, with follow-on from A15. Read more… Read More
Verod Capital Management has acquired 100% of Nigeria-based pension fund administrator AXA Mansard Pensions, a subsidiary of AXA Mansard Insurance, for an undisclosed amount. The transaction is subject final approval from the National Pension Commission. Read more… Read More
SEAF has reached an undisclosed final close for its SEAF Morocco Growth Fund. The vehicle, which was created as part of the InnovInvest Fund program managed by the Caisse Centrale de Garantie, invests in innovative startups and SMEs with high growth potential in Morocco. Read more… Read More
I&M Holdings has agreed to acquire a 90% stake in Uganda-based Orient Bank, providing an exit for shareholders including 8 Miles who first invested in the bank in 2015 and held a 42% interest. The transaction is subject to regulatory approvals. Read more… Read More
Dubai-headquartered payment company Network International has agreed to acquire DPO Group, a digital payments platform operating in Africa and the Middle East backed by Apis Partners, for USD288m. Read more… Read More
Straight KKM 2 (KKM), backed by Kuramo Capital Management and Mafuta Investment Holdings, has agreed to acquire CDC-backed Feronia’s direct and indirect equity interests in Congo-based palm oil agribusiness Plantations et Huileries du Congo. The deal, which is pending approval, will see Feronia delisted from the Canadian Stock… Read More
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