Nigeria-focused private equity fund manager Sahel Capital has agreed to invest in Nigeria-based rice grower and processor Coscharis Farms. The company, which has 2,500 hectares of land for rice cultivation, plans to install a new rice mill and irrigation system and establish a smallholder farmer program to reach 2,000 farmers… Read More
Financial inclusion-focused impact fund manager Goodwell Investments has made a follow-on investment in Musoni Services, a Netherlands-based provider of cloud-based core-banking software. Musoni’s technology is used by 90 microfinance institutions across 13 countries in Africa and Asia. Goodwell, which originally backed the company in 2015, invested through Goodwell Microfinance Development… Read More
Africa-focused venture capital fund manager EchoVC Partners has completed a seed funding round for Nigeria-based university accommodation booking platform myPadi. The company, which allows students to find and book more than 5,000 off-campus rooms linked to more than 60 tertiary institutions in Nigeria, plans to use the funds to expand… Read More
Africa-focused private equity fund manager Adenia Partners has acquired a controlling stake in pan-African agriculture, construction and mining equipment supplier Kanu Equipment. The transaction provides a partial exit for Africa-focused private equity fund manager Phatisa and includes a further US$20 million of expansion capital to support the company’s growth. The… Read More
Africa-focused private equity fund manager Helios Investment Partners and global investment firm Gemcorp Capital have reportedly invested US$116 million in The Gambia-based telecommunications company Africell via a syndicated loan. Africell, which operates mobile networks in The Gambia, the Democratic Republic of the Congo, Uganda and Sierra Leone, plans to use… Read More
A.P. Moller Capital, the fund management affiliate of global shipping and industrials group A.P. Moller-Maersk, has reached a second close for its Africa Infrastructure Fund with US$865 million in capital commitments. Investors committing at the second close include Danica Pension, Danske Invest, SEB Pensionsforsikring and SEB Pension och Försäkring. The… Read More
South Africa-focused alternative investment fund manager Ethos has acquired a 31 percent stake in South Africa-based internet service provider Echo. The company, which provides internet connectivity and cloud computing services to corporations in South Africa, plans to partner with Ethos to grow operations in the region. Ethos invested through Ethos… Read More
Global energy and resources-focused private equity fund manager Denham Capital has established a new Africa power investment platform in partnership with project development and investment advisory firm Themis. Denham and Themis will invest up to US$250 million in equity to develop natural gas-fired and renewable power generation assets across Africa. Read More
Emerging markets specialist fund manager LeapFrog Investments has sold its stake in Ghana-based pension trustee Petra Trust to pan-African investment firm African Capital Alliance (ACA). LeapFrog originally invested in Petra in 2014 through LeapFrog Financial Inclusion Fund. ACA acquired LeapFrog’s stake through Capital Alliance Private Equity IV. Petra currently manages… Read More
Financial inclusion-focused impact fund manager Goodwell Investments has acquired an equity stake in Nigeria- and Croatia-based Oradian, a provider of digital solutions for financial institutions in frontier markets, through uMunthu Inclusive Growth Investment Fund. Oradian’s cloud-based banking platform, Instafin, currently serves more than 50 financial institutions across seven countries. Oradian… Read More
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