STATEMENT: SAVCA Responds to State of the Nation Address 2021
The Southern African Venture Capital and Private Equity Association (SAVCA) notes the concerns raised by President Cyril Ramaphosa and the challenges which face our country as we look to the year ahead. Delivering a sobering speech about the challenges which lie ahead of us, the four priorities, as outlined by the president during his speech…
Read MoreMineworkers Investment Company Commits USD10 million to Knife Capital’s African Series B Expansion Fund
09 February 2021, Johannesburg, South Africa – Mineworkers Investment Company (MIC) has committed USD10 million to venture capital firm Knife Capital’s new African Series B expansion fund, Knife Fund III. The Fund’s aim is to invest behind the aggressive expansion of African innovation-driven companies and fill a critical follow-on funding gap. The commitment positions MIC…
Read MorePRESS RELEASE: Khumovest launches Khumovest Private Equity Fund I, secures investment from 27Four Black Business Growth Fund
Khumovest is proud to announce the launch of the Khumovest Private Equity Fund I, which is a Private Equity Fund that is focussed on making equity capital investments into small and mid-cap companies operating within South Africa. Khumovest was established in 2015 by Mr. Ratirelo Mothobi, CA(SA) and Mr. Thurstan Moodley, CFA and is a…
Read MoreSouth Africa Valuations Survey Report 2020 by FTI Consulting South Africa
Assessing Impact of COVID-19 Related Lockdown Restrictions on Valuations The COVID-19 pandemic has disrupted businesses, caused market volatility and triggered asset devaluations across the globe. Bill Conerly, a Forbes economist, states that the pandemic hurts economies in four ways: Supply chains failures; Direct effects of illness in terms of lost work by those who are…
Read MorePress Release: Acquisition of additional interest in ChannelVAS (CVAS)
Convergence Partners is pleased to announce that it has acquired an additional $5 million interest in CVAS, a leading fintech provider of mobile financial services across sub-Saharan Africa and beyond.
Read MoreMedia Release: Private equity sees start of recovery
The latest RisCura-SAVCA South African Private Equity Performance report for the second quarter of 2020 showed glimpses of a recovery, though Covid-19’s impact remains evident. The report tracks a representative basket of private equity funds in South Africa. The 10-year and five-year ZAR internal rate of return (IRRs) increased from 8.1% and 3.5% to 8.5% and…
Read MoreMedia Release: SAVCA statement on Moody’s and Fitch ratings downgrade on SA
The Southern African Private Equity and Venture Capital Association (SAVCA) notes with disappointment the downgrade of the country by ratings agencies Moody’s Investors Service and Fitch Ratings, further into junk status. In March this year, Moody’s had downgraded SA to BA 1 junk status, not long after the country had entered its hard lockdown brought…
Read MoreMEDIA RELEASE: SAVCA Responds to Medium-Term Budget Policy Statement
The Southern African Venture Capital and Private Equity Association (SAVCA) agrees with the concerns raised by Finance Minister Tito Mboweni and the current economic outlook as outlined during Wednesday’s Medium-Term Budget Policy Statement (MTBPS). While SAVCA welcomes the transparency around the long-term effects of the COVID-19 pandemic and the continued strain which the fiscus is…
Read MorePRESS RELEASE| SAVCA APPOINTS NEW CHAIRMAN
The board of directors of the Southern African Venture Capital and Private Equity Association (SAVCA) is pleased to announce the appointment of Lelo Rantloane as its new chairman. Rantloane, who is the founding CEO of Ata Capital, takes up the position after serving on the SAVCA board for 5 years. He has significant investment banking…
Read MoreMEDIA RELEASE: WHY A SIMPLE REG 28 AMENDMENT COULD FUEL SA’S ECONOMIC RECOVERY
COVID-19 and the ensuing national lockdown has had a dramatic effect on all spheres of South African society, but small and medium-sized enterprises (SMEs) – especially those in the service sector – have been particularly hard hit. These SMEs, however, are also the fastest creators of new jobs, and could underpin the country’s much-needed economic…
Read MoreMEDIA RELEASE| SAVCA APPOINTS TWO NEW BOARD MEMBERS
The Southern African Venture Capital and Private Equity Association (SAVCA) – the industry body for private equity and venture capital in Southern Africa –welcomes two new directors to its board, following the virtual SAVCA Annual General Meeting (AGM) held on 7 October 2020. SAVCA CEO, Tanya van Lill says that the new appointees – Natalie…
Read MorePRESS RELEASE| Vantage Capital invests $28.0 million in CIM Santé Group
Casablanca, Morocco – Vantage Capital, Africa’s largest mezzanine fund manager, announced today that it has made a $28.0 million equity investment to acquire a significant minority shareholding in the Cliniques Internationales du Maroc Group (“CIM Santé Group”). The business was founded in 1994 by Professor Assad Chaara, an internationally renowned cardiologist who pioneered coronary angiography…
Read MorePRESS RELEASE| Championing economic opportunities for women in Africa – Development Partners International’s (DPI) latest fund to become the first 2X Flagship Fund
DPI’s African Development Partners III Fund (“ADP III”) has been chosen as the first 2X Flagship Fund, committed to investing with a gender lens. DPI’s long-standing commitment to gender equity, along with its fund’s commercial performance, recognises the power of DFI collaboration working alongside proactive fund managers to effect real development impact while generating commercial…
Read MorePRESS RELEASE | RECORD EXIT ACTIVITY REPORTED BY VC FUND MANAGERS IN SA
While South African venture capital (VC) investors may have seen a significant slowdown in deal activity this year as a result of COVID-19, the local VC landscape experienced record investment and exit activity in 2019. This is according to the newly released SAVCA 2020 Venture Capital Industry Survey, which shows that a total of 38…
Read MorePRESS RELEASE| PAPE FUND 3 ACQUIRES 45% EQUITY IN THE DDS GROUP OF COMPANIES
PAPE Fund 3, the mid-cap South African private equity fund has announced the successful acquisition of 45% of the equity in the DDS Group of companies, a leading African beverage dispensing and refrigeration services provider. The DDS Group of companies provide beverage dispensing and refrigeration services on behalf of the multinational distributors, as illustrated by…
Read MorePRESS RELEASE: SA Private Equity takes a knock but will rally
The latest RisCura-SAVCA South African Private Equity Performance report reveals that private equity, like many asset classes, couldn’t quite escape the impact of COVID-19. The 2020 first quarter report tracks a representative basket of private equity funds in South Africa. Monwabisi Zikolo, a senior private equity analyst at investment firm RisCura, says that South African…
Read MorePRESS RELEASE| Rack Centre announces $100m expansion to create West Africa’s largest data centre.
LAGOS, NIGERIA, 31 August 2020 – Rack Centre, the leading carrier neutral data centre operator in West Africa, has announced an expansion programme that will increase capacity to a total net lettable white space of 6000 square metres and allow for 13MW of IT power capacity in its Lagos campus. This will be in addition…
Read MorePrivate Equity in Southern Africa: 7 takeaways from SAVCA’s latest survey
The Southern African Venture Capital and Private Equity Association (SAVCA) published its 2020 Private Equity Industry Survey, which provides insights into the activities and trends in the Southern African private equity industry for the 2019 calendar year. Here are the main takeaways from the survey. Investment activity 1. Decline in overall dealmaking. The value of…
Read MoreINVESTMENT ANNOUNCEMENT| SANARI CAPITAL BACKS LIGHTWARE LIDAR GLOBAL EXPANSION
Sanari Capital, backed by leading institutional investor 27four, is pleased to announce its R25 million (USD 1.5 million) investment in LightWare LiDAR, a South African company supplying world-class microLiDAR sensor technology to leading global companies. Established in 2012, LightWare gives ‘eyes to machines’, designing and manufacturing the world’s smallest and lightest precision LiDAR systems for…
Read MorePRESS RELEASE| SA PRIVATE EQUITY REMAINS FAVOURABLE RELATIVE TO LISTED MARKET
The latest RisCura-SAVCA South African Private Equity Performance Report reveals that the country’s private equity industry has again outperformed listed equity over the medium-term, as of December 2019. The 2019 fourth quarter report, which tracks a representative basket of private equity funds in South Africa, shows outperformance across all three listed benchmarks over the five-year…
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