Novastar Ventures East Africa Fund I Reaches a Final Close (Sub-Saharan Africa)

East Africa-focused venture capital firm Novastar Ventures has reached a final close on Novastar Ventures East Africa Fund I with US$80 million in capital commitments. Investors in the fund included development finance institutions CDC, FMO, Norfund and European Investment Bank. Multinational bank JP Morgan, global multi-asset investor AXA Investment Management… Read More

Actis Invests in Food Lover’s Market (Sub-Saharan Africa)

Pan-emerging markets private equity firm Actis has acquired a minority stake in South Africa-based food retailer Food Lover’s Market for ZAR760 million (approximately US$54 million). The company owns more than 120 stores across 11 countries in Africa. Food Lover’s Market intends to use the funding to continue its growth both… Read More

Old Mutual Private Equity Acquires a Majority Stake in MoreCorp (Sub-Saharan Africa)

Old Mutual Private Equity (OMPE), a division within Africa-focused investment manager Old Mutual Alternative Investments, has acquired a 70 percent stake in South Africa-based sport, leisure and wellness business MoreCorp for reportedly more than ZAR300 million (approximately US$20.8 million). The transaction was structured through OMPE’s Fund IV. MoreCorp owns golf retailers… Read More

Actis Invests US$62 Million in Nigeria-based Sigma Pensions (Sub-Saharan Africa)

Pan-emerging markets private equity firm Actis has acquired a majority stake in Nigeria-based pension fund administrator Sigma Pensions for US$62 million. Actis has partnered with Sigma’s founder and Chief Executive Officer Umaru Modibbo and the company’s current management team in the transaction. Sigma Pensions was founded in 2004 and reportedly… Read More

Amethis Finance Invests in HMAO Group (Sub-Saharan Africa)

Amethis Finance, a fund manager that provides debt and equity financing to companies in Africa, has acquired a minority stake in Côte d’Ivoire-based healthcare clinic and laboratory provider HMAO Group. Through this transaction, Amethis supported the management’s take-over of HMAO Group, which was previously owned by Morocco-based business conglomerate Saham. Read More

Actis, RMB Westport and Paragon Sell Ikeja City Mall to Hyprop Investments and Attacq (Sub-Saharan A

Pan-emerging markets private equity firm Actis, Sub-Saharan Africa real estate investment management and development group RMB Westport and Nigeria-focused investor group Paragon Holdings have sold Nigeria-based retail mall Ikeja City Mall to South Africa-focused real estate investment trust Hyprop Investments and Johannesburg Stock Exchange-listed real estate capital growth fund Attacq. Read More

Adenia Partners Exits Madagascar-based Hôtel du Louvre (Sub-Saharan Africa)

Sub-Saharan Africa-focused private equity firm Adenia Partners has exited Hôtel du Louvre, a business hotel located in Antananarivo, Madagascar, to a group of undisclosed local investors. The transaction was structured through Adenia Capital I. Adenia originally invested in the company in 2006. Financial details of the transaction were not disclosed. Read More



(default archive template)