The InsuResilience Investment Fund, a fund set up by German development bank KfW and managed by global impact investment fund manager BlueOrchard Finance, has agreed to acquire a 39 percent stake in Royal Exchange General Insurance Company, a Nigeria-based provider of agriculture insurance. The funding will enable the company to… Read More
Frontier market investment firm CrossBoundary and PowerGen Renewable Energy, a Tanzania-based micro-grid developer, have agreed to invest USD5.5 million to finance the development of 60 mini-grids in Tanzania. The project is estimated to bring power to 34,000 people in rural homes and businesses. As part of the transaction, CrossBoundary has… Read More
Pan-African food and agriculture-focused private equity fund manager EXEO Capital has acquired a significant minority stake in Tanzania-based woven polymer products manufacturer PPHL. The company produces bags, sacks, and tarpaulins for the agriculture and cement industries in Southern and Eastern Africa. EXEO invested through Agri-Vie Fund II. Financial details of… Read More
The Africa-focused private equity arm of investment group Investec Asset Management has acquired a controlling stake in Egypt-based supermarket chain Spinneys Egypt from global growth markets investor The Abraaj Group. Investec invested through its second Africa-focused private equity fund. Financial details of the transaction were not disclosed. Read More
South Africa-based footwear company Footgear has agreed to acquire sports apparel retailers Edgars Active and High Key from Edcon Group, a South-Africa based retail company. The transaction will be backed by Old Mutual Private Equity, a division of Africa-focused asset manager Old Mutual Alternative Investments, which recently acquired a majority… Read More
Nigeria-based mobile payments company OPay has raised USD50 million from China-based e-commerce company Meituan-Dianping; Norway-based, US-listed internet browser company Opera; and venture capital fund managers IDG Capital, Sequoia Capital, Source Code Capital, and GSR Ventures. OPay plans to use the new funding to strengthen its presence in Nigeria, expand to… Read More
Impact investment fund manager responsAbility Investments has committed USD4 million as part of a USD18 million debt financing round for d.light, a global provider of solar power and lighting solutions for off-grid communities. Other participants in the funding round include impact investing firms SunFunder, Social Investment Managers & Advisors, and… Read More
Airtel Africa, an operator of telecoms and mobile banking services throughout Africa, has raised GBP595 million (approximately USD755 million) in its initial public offering. The company sold 705 million shares on the London Stock Exchange and 39 million shares on the Nigerian Stock Exchange for GBP0.80 (USD1.01) per share. Airtel… Read More
Africa- and Middle East-focused private equity firm SPE Capital Partners has invested MAD240 million (approximately USD25 million) in H&S Invest Holding, which operates Morocco-based logistics company Dislog Group. The company, which provides logistics and distribution services across the entire value chain, will utilize the funds to increase its warehousing capacity… Read More
Global impact investing firm SEAF has invested in SOS Credit, a Morocco-based online financial services broker, through SEAF Morocco Growth Fund. SOS Credit will use the funds to expand its presence in Morocco and internationally. Financial details of the transaction were not disclosed. Read More
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