Pan-African food and agriculture-focused private equity fund manager EXEO Capital has acquired a 37 percent stake in South Africa-based FMCG manufacturer Jumbo Brands. The company produces a variety of juices, coffees and snack foods and plans to partner with EXEO to grow its current product lines and acquire other businesses… Read More
Africa- and India-focused recruiting and human resources solutions provider Shortlist has raised US$2 million in a Series A funding round led by family office Blue Haven Initiative. Compass Venture Capital and existing investor Zephyr Acorn also participated in the round. Shortlist provides digital job application and human resources management services… Read More
African agribusiness-focused private equity fund manager Zebu Investment Partners has reached a first close for the Africa Food Security Fund with US$84 million in capital commitments. Investors in the fund include South Africa-based Public Investment Corporation, investment manager Kuramo Capital Management and development finance institutions AfDB, CDC, DGGF, IFU and… Read More
U.S.-based investment firm Berkshire Partners has agreed to acquire a majority stake in Teraco Data Environments, a South Africa-based provider of colocation and data infrastructure services. U.K-based private equity investor Permira, an existing shareholder, will remain an investor in Teraco. The company operates five data centers in South Africa serving… Read More
Africa-focused software engineering services provider Andela has raised US$100 million in a Series D funding round led by global sustainability-focused investor Generation Investment Management. Existing investors Chan Zuckerberg Initiative, GV, Spark Capital and CRE Venture Capital also participated in the round. Andela recruits and trains software developers at coding campuses… Read More
Middle East-focused alternative asset manager Gulf Capital has invested US$22 million in Tunisia-based olive oil producer and exporter CHO Company. The company produces more than 10 million gallons of olive oil per year and plans to use the funds for working capital and to support its expansion and integration plans. Read More
Frontier market investment firm CrossBoundary has reached a first close for CrossBoundary Energy Access, an Africa-focused project financing facility for power mini-grids, with US$16 million in capital commitments. Investors in the first close include the Rockefeller Foundation and family office Ceniarth. The facility has a blended finance structure and will… Read More
African Infrastructure Investment Managers (AIIM) has invested US$31 million for a 28 percent stake in the East Africa operations of U.K.-based, Africa-focused off-grid energy solutions provider BBOXX. The company sells solar systems, billing users on a pay-as-you-go basis, and will partner with AIIM to accelerate the rollout of its products… Read More
East Africa-focused private equity firm Fanisi Capital has agreed to sell Kenya-based private education company Hillcrest International Schools for KES2.6 billion (approximately US$25 million) to GEMS Education, a U.A.E.-based education group. Fanisi and entrepreneur Anthony Wahome originally acquired Hillcrest in August 2011 for KES1.8 billion (approximately US$20 million). The transaction… Read More
Global SME-focused impact investing firm SEAF has invested in eDukaty, a Morocco-based education technology company. SEAF invested in the company, which develops online French admissions examination preparation products, through the Morocco Growth Fund. Separately, SEAF has also announced an investment in Organica, a Vietnam-based organic and natural food retailer and… Read More
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