Africa-focused private equity firm Development Partners International (DPI) has invested USD56m in Tunisia-based tomato processor Société Industrielle des Conserves Alimentaires (SICAM) through African Development Partners III (ADP III). Read more… Read More
GPCA’s Inaugural Report On Venture-Backed Startups Across EM Today, Asia is an epicenter of global startup momentum and the year 2019 marked records for venture investment in a number of emerging private capital markets, including Africa, Latin America, Southeast Asia, India, and CEE & CIS. Venture Capital in emerging markets… Read More
Anthemis Exponential Ventures, a partnership between Anthemis Group and Exponential Ventures, led a USD6m Series A for Kenya-based Apollo Agriculture, a financing and products platform for small farmers, with participation from existing investors Accion Venture Lab and Newid Capital, and new investors Leaps by Bayer, Flourish Ventures, Sage… Read More
Actis has exited its majority stake in Ghana-based commercial bank GHL Bank to FirstRand Group subsidiary First National Bank Ghana. Read more… Read More
Dutch development finance institution FMO has invested EUR12.5m (approximately USD13.5m) in African microfinance group Compagnie Financiere Africaine (COFINA) via two transactions: a EUR7.5m (approximately USD8.1m) investment in Cofina’s subsidiary in Senegal and a EUR5m (approximately USD5.4m) investment in Cofina Côte d’Ivoire. Read more… Read More
Ethiopia-focused fund manager Cepheus Growth Capital Partners has made an undisclosed investment in Ethiopia-based fast-moving consumer goods manufacturer East African Lion Brands Manufacturing Share Company. Read more… Read More
Emerging Capital Partners-backed money transfer operator Mukura has acquired the Malawian assets of South Africa-based fintech Zoona. The details of the transaction are undisclosed. Read more… Read More
Ninety One, formerly known as Investec Asset Management, and Rand Merchant Bank Ventures have sold partial stakes in Botswana-based consumer goods supplier and distributor Kamoso Africa to Botswana Development Corporation (BDC). Ninety One and RMBV retain a controlling stake in the company, while BDC holds a 24% stake. Read More
Africa-focused venture capital fund manager Novastar Ventures has reached a USD108m final close for its second fund. The vehicle targets early and growth stage startups in East and West Africa. Read more… Read More
Africa-focused TMT investment management firm Convergence Partners has acquired Vodacom Business Africa’s operations in Nigeria, Zambia, and Cote d’Ivoire via its pan-African digital service provider platform inq. (formerly known as Synergy Communications) for an undisclosed amount. A further planned acquisition of Vodacom’s operations in… Read More
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