Nigeria-based digital payments company Paga has raised US$10 million from a group of investors led by development-focused investment firm Global Innovation Fund. Other investors in the Series B2 round include impact investors Goodwell Investments, Adlevo Capital, Omidyar Network and Unreasonable Capital. Paga plans to use the funds to expand into… Read More
Africa-focused private credit fund manager Vantage Capital has fully exited South Africa-based investment holding company New GX Capital, reportedly generating a 35 percent return on its original investment. Vantage provided the company with ZAR250 million (approximately US$17 million) in financing in 2016 through its third fund. New GX used the… Read More
Partech Ventures, a venture capital firm investing in Europe, the United States, Africa and Asia, has led a Series B round totaling US$16 million for South Africa-based point-of-sale payments company Yoco. Other investors in the round include Dutch development finance institution FMO, corporate venture capital firm Orange Digital Ventures, fintech-focused… Read More
Africa-focused infrastructure fund manager Harith General Partners has invested US$24.1 million in Malawi-based fiber optic cable network operator Open Connect (OCL) through Pan African Infrastructure Development Fund 2. Through the transaction, Harith will acquire a 60 percent stake in the company, with the remaining 40 percent held by the Malawian… Read More
The Off-Grid Energy Access Fund (OGEF), an Africa-focused fund providing debt financing to companies in the household energy access sector, has reached a first close with US$58 million in capital commitments. Investors in the fund, which will be managed by investment advisory and asset management group Lions Head Global Partners,… Read More
The Emerging Africa Infrastructure Fund (EAIF), a joint public and private investment fund owned by the Private Infrastructure Development Group and managed by Investec Asset Management, has reached financial close for an 11-year US$35 million loan to Nigeria-based Indorama Eleme Fertilizers & Chemicals (IEFCL). The transaction is part of the… Read More
Global impact asset manager Finance in Motion and timber sector advisory company Unique have reached a first close for the sustainable forestry-focused Arbaro Fund with US$60 million in capital commitments. Investors in the fund include development finance institutions the European Investment Bank, which committed US$20 million, and Finnfund, Austrian fair-practice… Read More
Global alternative asset manager The Blackstone Group has exited a 65 percent stake in Bujagali Energy (BEL), the developer of the 250-megawatt Bujagali hydropower project in Uganda. SN Power, a hydropower developer owned by development finance institution Norfund, acquired Blackstone’s interest for US$277 million. Blackstone first invested US$120 million in… Read More
Africa-focused private credit fund manager Vantage Capital has provided ZAR2.05 billion (approximately US$145 million) in debt funding to six solar and wind energy projects in South Africa with a combined capacity of 433 megawatts. The projects are part of the South African Renewable Energy Independent Power Producer (REIPP) procurement program… Read More
South Africa-focused private equity firm PAPE Fund Managers has reached a first close for PAPE Fund 3 with ZAR471 million (approximately US$35 million) in capital commitments. Investors in the fund include the Public Investment Corporation (PIC) of South Africa, Eskom Pension and Provident Fund, FMO and family offices represented by… Read More
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