Industry News
Summit Africa achieves final close on its first private equity fund
The alternative asset management firm’s private equity fund secured R1.6 billion in commitments for long-term investment. The fund has been approved for the 2X Challenge qualification— a commitment by the development finance institutions (DFIs) of the G7 to mobilise USD15 billion by the end of 2022 toward investments that support women’s economic empowerment in emerging…
Read MoreIndustry 4.0 solution business Stone Three raises expansion funding from Knife Capital
PRESS RELEASE: 4 October 2021 Stone Three / Knife Capital Stone Three is a leading industry 4.0 solution business that combines expert services with the power of machine learning to solve problems that increase operational productivity and keep people safer, healthier and happier. These end-to-end solutions for AI-augmented digital productivity, health and workplace safety include…
Read MoreDPI raises one of the largest Africa funds at US$900m to invest in innovation-led companies
London, 04 October 2021 – Development Partners International (DPI), a premier investment firm focused on Africa, today announced that African Development Partners III Fund (ADP III), has exceeded its US$800 million target, and is set to hold a final close at US$900 million, with an additional US$250m of dedicated co-investment capital. This brings a total…
Read MorePress 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 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 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 MoreSA private equity firm has R350 million available for investment opportunities
Private equity company Moshe Capital Fund Managers is actively seeking to invest R350-million into diverse companies with a solid presence in their sectors. The firm has secured a funding commitment from FNB Commercial and has entered into a partnership agreement with RMB Ventures. Both divisions of FirstRand Limited. “Despite economic challenges, there are several opportunities…
Read MorePRESS RELEASE: AFRICAN INFRASTRUCTURE INVESTMENT MANAGERS ACQUIRES MAJORITY STAKE IN GHANA-BASED DATA CENTRE
AIIM expands its digital infrastructure footprint with investment in carrier neutral, co-location data centre, via newly incorporated Onix Data Centre platform Cape Town, 4 March 2021: African Infrastructure Investment Managers (“AIIM”), one of Africa’s largest infrastructure-focused private equity fund managers, together with the management team of the new Onix Data Centres Limited (“Onix DC”) platform, have acquired a majority stake in Ngoya Etix DC (Ghana) Ltd, a carrier-neutral data centre with a current capacity of 170 racks (expandable to 680 racks), via AIIM’s flagship pan-African infrastructure fund, AIIF3. Located in the Greater Accra…
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