Press Release: Zeepay raises US$8m in Series A.0 round to drive growth
Zeepay, Africa’s leading challenger fintech, has announced the completion of its Series A.0 fund raise in a round led by Investisseurs & Partenaires (I&P). The leading Ghanaian fintech announced that it has completed a fundraise of US$7.9million in its Series A.0 – which was a hybrid of both equity and balance sheet funds to support its…
Read MorePress Release: Tana Africa Capital acquires a minority investment into Kensington Distillers & Vintners
ana Africa Capital acquires a minority investment into Kensington Distillers & Vintners, a fast-growing alcoholic beverage manufacturing and distribution business with operations in South Africa, Kenya and Nigeria.
Read MorePress Release: Metier is happy to announce the sale of 360MW of Mainstream wind assets to Revego Africa Energy Limited
Revego Africa Energy Limited (Revego), South Africa’s only yieldco geared towards the renewable energy sector through its investment in the Revego Africa Energy Fund, has acquired stakes in a number of leading wind assets, all of which are helping to build South Africa’s clean energy future. The acquisitions include the Mainstream wind assets, Loeriesfontein 2…
Read MorePress Release: Legacy Africa Capital Partners concludes deal with Penflex and its parent company
South African company Penflex has been transformed into a plastics conversion business specialising in the local manufacture of writing instruments, window blind components and houseware products for the domestic and international market. This is after Legacy Africa Capital Partners (LACP) took a majority share in Penflex, which had previously focused only on stationery, as well…
Read MorePress Release: Convergence Partners’ latest fund to drive digital inclusion in Africa
Convergence Partners, a private equity investor focused on the technology sector across sub-Saharan Africa, announced the successful first close of its third fund, the Convergence Partners Digital Infrastructure Fund (CPDIF) at US$120 million. The fund is targeting a final size of US$250 million. Now with more than US$400m of capital under management, Convergence Partners remains the largest private equity investor dedicated to digital infrastructure in Africa. Investors in CPDIF are leading…
Read MoreVenture Capital industry Insights: “South African venture capital continues to grow”
Venture Capital industry Insights: “South African venture capital continues to grow” SAVCA releases 2021 Venture Capital Industry survey highlights and tackles pivotal issues Survey Highlights: • 74 Fund managers invested R1.39 billion into 122 entities through 167 investment rounds in 2020 (up from 69 fund managers investing R1.23 billion in 2019)• At the end of…
Read MorePress Release: Metier-led consortium invests US$36 million into AMN to expand coverage in remote rural Africa
A consortium led by Metier, an independent African private equity fund manager, has invested US$36 million into Africa Mobile Networks Ltd (“AMN”). The consortium includes CDC Group (the UK’s development finance institution and impact investor), DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH (Germany’s development finance institution), Proparco (the private sector arm of the French Development…
Read MoreFM:Systems Acquires WizzPass,Gaining Best-in-Class Visitor Management Technology
FM:Systems Solutions and Provides Unprecedented Digital Workplace Experience for Employees, Contractors, Suppliers and Visitors RALEIGH, N.C., June 23, 2021 — FM:Systems, a dominant provider of digital workplace solutions globally, announced today that it has acquired WizzPass, a rapidly growing leader in the visitor management system and workplace management market. Used and trusted by leading companies…
Read MoreThe Women Empowerment Mentoring and Incubation (WE>MI) Fund Manager Programme Selects Twelve Southern African Women Fund Managers
To increase the number of investable women fund managers in Southern Africa, MiDA Advisors, a global transaction and financial advisory firm, and the Southern African Venture Capital and Private Equity Association (SAVCA), an industry association, launched the Women Empowerment Mentoring and Incubation (WE>MI) Fund Manager Programme with the support of the United States Agency for International Development (USAID). Following the call for applications, twelve women-owned and…
Read MoreEXEO CAPITAL SELLS MAJORITY SHARE IN CAPE OLIVE AS PART OF AGRI-VIE FUND I EXIT
15 June 2021: Pan-African alternative investment firm, EXEO Capital this week announced the exit of its Food and Agribusiness fund, Agri-Vie Fund I, from Cape Olive Holdings – one of the largest table olive suppliers in South Africa. Izak Strauss, Partner and Co-founder of EXEO Capital, explains that the firm had sold its 62.7% share,…
Read MoreMedia Statement: Takatso Consortium and South African Government Partner to Relaunch South African Airways
South Africa-based Takatso comprises leading pan African infrastructure investor Harith General Partners and local aviation group, Global Aviation Public / private partnership for SAA, which will see 51% of SAA in private sector hands Takatso intends to relaunch SAA as an iconic South African brand, and a viable, sustainable, scalable and agile airline which will…
Read MoreSAVCA Statement on Competition Commission prohibiting acquisition between ECP Africa Fund, Burger King South Africa and Grand Foods
Friday, 4 June 2021: On 1 June 2021, the Competition Commission announced that it had formally blocked the process of Pan-African Private Equity Firm Emerging Capital Partners (ECP) from purchasing fast-food chain Burger King South Africa and Grand Foods Meat Plant. It is reported that the basis of this decision was not as a result…
Read MoreSAVCA MEDIA RELEASE: BUSINESS RESCUE AND DISTRESSED ASSET INVESTING
Considerations for creditors, shareholders, and private equity firms. 2 June 2021: According to Statistics South Africa, 216 businesses were liquidated in March 2021, 50% higher than the number recorded just a year ago. It is against this backdrop that the Southern African Venture Capital and Private Equity Association (SAVCA) recently hosted a panel of experts…
Read MorePrivate equity consortium acquires building materials company Everite from Group Five
South African buildings materials company Everite has been fully acquired by a private equity consortium comprising Legacy Africa Capital Partners and Lonsa Group together with Everite’s management. Everite was purchased from Group Five as part of the construction company’s business rescue process. Following a competitive auction, the consortium emerged as the preferred bidder. Lonsa Group,…
Read MoreSoon-to-be-listed Revego Africa Energy Limited invests in leading South African concentrated solar power plant
Revego Africa Energy Limited (Revego) has announced its first major acquisition, in the form of a 12% stake in the 50 MW Bokpoort Concentrated Solar Power (CSP) asset in the Northern Cape for R204 million. Bokpoort CSP is one of South Africa’s premier CSP projects and fulfils Revego’s mandate of investing in operational, dividend-earning renewable…
Read MoreTop Tech Companies Driving Africa’s Growth – Africa Tech Week
On May 5th and 6th, Topco Media and partners will be presenting a robust networking experience aimed at kick-starting economic growth in Africa, using technology. Africa Tech Week is alive with gleaming opportunities to shape fruitful connections, forge clearer paths to digital transformation and inspire collective and personal growth. Enjoy the Inside Scoop from Top-Tech…
Read MoreInaugural Women Empowerment Mentoring and Incubation (WE > MI) Fund Manager Programme Launches to Increase the Number of Women-Owned and Managed Funds in Southern Africa
While progress towards the gender equality Sustainable Development Goal is growing in many industries, the private equity sector in Southern Africa continues to lag. According to Tanya van Lill, CEO of the Southern African Venture Capital and Private Equity Association (SAVCA), “In the Southern African region, only 9% of the fund managers that are members…
Read MoreSA PRIVATE EQUITY IS DOING GOOD WHILE DOING WELL
The inaugural SAVCA Conference Awards in March this year set out to acknowledge excellence, dedication and innovation. Among the winners of the year’s private equity deals, they also showcase an ethos of doing good while doing well. This has long been the rallying cry of Sanari Capital, winner of the SAVCA Small and Medium Deal…
Read More“Back to basics” approach needed for post-COVID recovery
At the recently held SAVCA 2021 Private Equity Conference, a panel comprising industry leaders explored in some depth the ways in which the country can go “back to basics” as the world economy re-opens. Moderated by Prof Nick Binedell from the Gordon Institute of Business Science, the panel consisted of Ben Bierman, Managing Director: Business…
Read MoreCan changes to Regulation 28 be a panacea for our ailing economy?
A group of panellists at the recent SAVCA Private Equity Conference debated National Treasury’s proposed amendments to Regulation 28. The regulation is part of the Pensions Funds Act and limits local retirement funds’ exposure to certain investments to ensure portfolios are well diversified and do not take on undue risk. Tanya van Lill, SAVCA CEO…
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