SolarNow, a Uganda-based off-grid solar energy company, has secured US$9 million in debt financing from impact investment fund manager responsAbility Investments, impact investing cooperative Oikocredit and SunFunder, an emerging markets-focused solar financing firm. SolarNow previously received a US$6 million loan from responsAbility, Oikocredit and SunFunder in late 2017. The company… Read More
Africa-focused private equity fund manager AfricInvest has reached a third close for FIVE, an evergreen platform for investing in financial institutions in Africa, with EUR67 million (approximately US$77 million) in capital commitments. Investors in the fund include development finance institutions KfW, FMO, BIO, Norfund and IFU, as well as the… Read More
Africa-focused private equity fund manager Adenia Partners has acquired a controlling stake in Tumaini Self Service, a Kenya-based supermarket chain operator. Adenia acquired the company through its special purpose vehicle Sokoni Retail Kenya. Tumaini, which has six grocery branches, plans to use the new funds to expand throughout the Nairobi… Read More
EFG Hermes Private Equity, a Middle East and North Africa-focused private equity fund manager, has reached a first close for Egypt Education Fund (EEF) with US$119 million in capital commitments. Launched in May 2018, the fund reportedly exceeded the first close target of US$50 million to US$100 million. Investors in… Read More
Africa-focused private equity fund manager Emerging Capital Partners (ECP) has acquired a majority stake in Artcaffé Group, a Kenya-based restaurant company. Artcaffé operates 26 restaurants in Nairobi across five brands, including Artcaffé Coffee and Bakery, Dorman’s Coffee, OhCha Noodle Bar, Urban Burger Bar and Tapas Ceviche Bar. Artcaffé intends to… Read More
EMPEA Members, log in and click through for your exclusive access to the detailed report and underlying data. While new entrants have added diversity to the African private capital landscape in recent years, the most experienced firms have historically accounted for the vast majority of capital raised for the region. Read More
Global growth markets investor Actis has agreed to sell Compuscan, a South Africa-based credit information and analytics company, to Ireland-based consumer credit agency Experian for ZAR3.72 billion (approximately US$261 million). Actis acquired a majority stake in Compuscan in 2014. The transaction is subject to antimonopoly regulatory approvals. Separately, Actis has… Read More
North Africa-focused venture capital firm Sawari Ventures has reached a first close for Sawari Ventures North Africa Fund I with US$35 million in capital commitments. Investors in the fund include development finance institutions CDC, Proparco, the Dutch Good Growth Fund and the European Investment Bank, which committed US$11 million. The… Read More
Although not a new concept, permanent capital vehicles (PCVs) remain a relatively underused vehicle for private equity funds in emerging markets. Investor demand for conventional structures, where commitments are invested and proceeds distributed within a defined period of time (ordinarily invested over 5 years and a 10-12 year fund life),… Read More
The regulatory environment continues to move at a fast pace. What was previously considered market practice has moved rapidly to become negotiable, an array of issues are likely to give rise to disputes in relation to private equity investments. Many entities doing business in the European Union have not only… Read More
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