Impact fund manager Equator Capital Partners and private equity firm Progression Capital Africa have invested KES1.2 billion (approximately US$12 million) in Kenya-based financial institution Jamii Bora Bank. The transaction was structured through Equator Capital Partners’ ShoreCap II and Progression Capital Africa’s Progression Eastern African Microfinance Equity Fund. Jamii Bora Bank… Read More
Kibo Capital Partners, a fund manager focused on Eastern and Southern Africa and the islands of the Indian Ocean, and Velogic, a Mauritius-based logistics company, have invested in Kenya-based logistics service provider General Cargo Group. The transaction was structured through Kibo Fund II. Financial details of the transaction were not… Read More
Africa-focused private investment firm Helios Investment Partners has acquired 100 percent of emerging markets-focused financial services companies Crown Agents Bank (CAB) and Crown Agents Investment Management (CAIM) following the receipt of regulatory approvals. The transactions were structured through Helios Investors III. CAB and CAIM provide payments, trade finance, foreign exchange… Read More
Branch International, a financial technology company focused on Sub-Saharan Africa, has raised US$9.2 million in a Series A funding round led by venture capital firm Andreesen Horowitz. Impact investor Khosla Impact Fund and venture capital firm Formation 8, both existing investors in the company, also participated in the round. Branch… Read More
Alternative asset management firm Duet Group has agreed to invest approximately US$18.6 million in Kenya-based lender Fidelity Bank. Fidelity Bank intends to use the financing to improve its capital base and expand regionally. The bank is looking to double the size of its branch network from 14 locations predominantly in… Read More
Nigeria- and Ghana-focused private equity firm Synergy Capital Managers has invested in Nigeria-based broadband communications provider Suburban Fiber Company. The transaction was structured through Synergy Private Equity Fund I. With Synergy Capital’s backing, Suburban Fiber plans to attract new customers by investing in network expansion, marketing, bandwidth and content. Financial… Read More
Pan-African private equity firm AfricInvest and microfinance firm Microcred Group have agreed to acquire a 100 percent stake in Zimbabwe-based financial products and services provider MicroKing Finance. AfricInvest, which will acquire a 30 percent stake in the company, will structure its investment through AfricInvest Financial Sector Fund. MicroKing provides financial… Read More
Global growth markets investor The Abraaj Group has acquired Turkey-based Themis Energy, an Africa-focused energy project development company. Themis will form The Abraaj Group’s dedicated project development arm, supporting energy infrastructure projects from concept to operation across target markets. Financial details of the transaction were not disclosed. Read More
Impact fund manager Equator Capital Partners has acquired a minority stake in Nigeria-based commercial lender Fortis Microfinance Bank. The transaction was structured through Equator Capital Partners’ fund ShoreCap II. Financial details of the transaction were not disclosed. Read More
Africa-focused private investment firm Helios Investment Partners has agreed to sell its stake in Nigeria-based telecommunications tower company Helios Towers Nigeria (HTN Towers) as part of Africa-focused mobile telecommunications infrastructure provider IHS Towers’ acquisition of a 100% stake in the company. Other sellers in the transaction include South Africa-based holding… Read More
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