Africa-focused private equity fund manager Phatisa has agreed to sell its controlling stake in Africa-based fertilizer distributor Meridian Group to Saudi Arabia-listed mining and metals group Ma’aden. Phatisa originally invested in Meridian, which has a presence in Malawi, Mozambique, Zimbabwe, and Zambia, in 2014 through its African Agriculture Fund. Financial… Read More
Pan-African financial services provider Oragroup has officially debuted on the West Africa-focused Bourse Régionale des Valeurs Mobilières (BRVM) following the conclusion of the company’s initial public offering. Oragroup sold 6.1 million new shares in the offering while current shareholders sold 7.8 million existing shares at a price of XOF4,100 (approximately… Read More
Africa-focused private credit fund manager Vantage Capital has exited its investment in South Africa-based mining services company Thebe Timrite. The company primarily provides timber-based support structures used in deep-level mining operations in South Africa. Vantage originally provided ZAR89 million (approximately USD8.7 million) in mezzanine financing to Thebe Timrite in 2013… Read More
Africa-focused e-commerce retailer Jumia has raised USD196 million in its initial public offering on the New York Stock Exchange. Jumia sold 13.5 million American Depositary Shares (ADS) for USD14.50 per ADS, valuing the company at USD1.1 billion. The company is backed by German venture investor Rocket Internet, as well as… Read More
Africa-focused private investment firm Helios Investment Partners has invested USD41.5 million for a 25 percent stake in Axxela, the Nigeria-based natural gas distribution subsidiary of Nigeria- and South Africa-listed oil company Oando. The transaction follows Helios’ acquisition of a 75 percent stake in the company from Oando in 2016 for… Read More
East Africa-focused private equity and venture capital fund manager Fanisi Capital has agreed to exit a controlling stake in Kenya-based drug retail chain Haltons Pharmacy to mPharma, a Ghana-based inventory management company serving pharmacies and pharmaceutical suppliers. The deal is reportedly valued at KES500 million (approximately USD5 million). Fanisi first… Read More
Daystar Power Group, a Mauritius-based hybrid solar power developer operating West africa, has raised USD10 million in equity from Anglophone West Africa-focused private equity firm Verod Capital Management and Persistent Energy Capital, an Africa-focused off-grid energy investment firm. The deal represents Verod’s final investment from its second fund. Daystar has… Read More
Africa-focused private investment fund manager Amethis has reportedly sold its 29 percent stake in Morocco-based consumer goods distributor Dislog Group to H&S Invest Holding, an investment vehicle of the Belkhayate family. In 2018, Amethis took over management of Amethis Maghreb Fund I—formerly known as Capital North Africa Venture II and… Read More
Middle East-focused fund managers Algebra Ventures and Ezdehar Management have invested in Egypt-based loyalty services solutions provider Dsquares. The company provides customer loyalty management solutions to corporate clients in the Middle East and Africa. Ezdehar previously invested in Dsquares in 2018 through Ezdehar Egypt Mid-Cap Fund. Financial details of the… Read More
EMPEA Members, log in and click through for your exclusive access to the detailed report and underlying data. Africa private capital fundraising in 2018 rose 22%, year over year, indicating that although some global investors have pulled away from the region, Africa-focused GPs are gearing up to take advantage of… Read More
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