Impact investment fund manager Equator Capital Partners has invested in pan-African fintech company MFS Africa through ShoreCap III. MFS Africa offers merchants, banks, mobile operators and money transfer companies access to over 170 million mobile wallets through its digital payments hub. Financial details of the transaction were not disclosed. Read More
West Africa-focused private investment fund manager Injaro Investments has invested in Côte d’Ivoire-based soap manufacturer Novafrique Industries. The company plans to partner with Injaro to optimize utilization of its current facilities and improve profitability. Financial details of the transaction were not disclosed. Read More
Africa-focused venture capital fund manager Novastar Ventures has reached a first close for Novastar Ventures Africa Fund II with US$72.5 million in capital commitments. Investors in the fund include AXA, CDC Group, FMO, the European Investment Bank and the Dutch Good Growth Fund. Novastar’s second fund, which is targeting US$120 million in total commitments, will invest in early- and growth-stage businesses across East Africa and West Africa. The expansion… Read More
Airtel Africa, a unit of India-based telecommunications group Bharti Airtel, has agreed to raise US$1.25 billion via new share subscriptions from a consortium of investors including global private equity fund manager Warburg Pincus, Singaporean sovereign wealth fund Temasek Holdings and corporate investors Singapore Telecommunications and SoftBank Group. Airtel Africa will… Read More
The Africa-focused private equity arm of banking and investment group Investec Asset Management has acquired a controlling stake in South Africa-based tertiary education provider Richfield Holdings. The company, which primarily operates under the Richfield Graduate Institute of Technology brand, has more than 20,000 enrolled students across 40 campuses in South… Read More
Global SME-focused impact investing firm SEAF has invested in Vietnam-based Dream Viet Education, an online education provider operating under the Kyna brand. SEAF, which invested through the SEAF Women’s Opportunity Fund, will partner with Kyna to expand the reach of its educational offerings in Vietnam. Separately, SEAF has invested in… Read More
Sub-Saharan Africa-focused impact investing group Investisseurs & Partenaires (I&P) has invested in three companies through I&P Afrique Entrepreneurs 2: Afribon, a food flavor producer operating in Cameroon and East Africa; African Management Initiative (AMI), a Kenya-based provider of workforce training programs and educational tools; and CoinAfrique, a Francophone Africa-focused online… Read More
Africa-focused private investment firm Helios Investment Partners has invested in Morocco-based higher education group KMR Holding Pédagogique. Helios will partner with KMR to support its development in Morocco and throughout francophone Africa, as well as to establish a student housing platform in the region. KMR provides tertiary education to more… Read More
Impact investment fund manager responsAbility Investments has acquired a minority stake in Suminter, an India-based supplier of organic food products from Asia and Africa. The company will use the funds for working capital financing and to expand its operating capacity. Separately, responsAbility and Germany-based distributed solar energy developer REDAVIA have… Read More
Southern Africa-focused alternative investment fund manager Ethos and Eskom Pension & Provident Fund (EPPF) have acquired a majority stake in South Africa-based Gammatek. Ethos acquired a 51 percent stake through Ethos Mid Market Fund I, with EPPF acquiring a further 9 percent stake. Gammatek distributes consumer electronics and technology accessories,… Read More
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