Pan-African private equity firm AfricInvest has purchased a minority stake in Salvador Caetano Auto Africa (SC Africa), a subsidiary of Portugal-based auto retailer Salvador Caetano Group. The transaction was structured through AfricInvest Fund III. With AfricInvest’s backing, SC Africa intends to consolidate its position in its current markets of operation… Read More
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
Global growth markets investor The Abraaj Group, development finance institution International Finance Corporation (IFC) and IFC Asset Management Company (IFC AMC), a wholly-owned subsidiary of IFC, have agreed to sell a combined 30 percent stake in Morocco-based insurance group Saham Finances to Saham Finances’ parent company Saham Group and Johannesburg… Read More
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
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
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
Introduction Across the emerging markets, private companies face two persistent growth constraints: expansion capital and expertise. Frequently, small and mid-size businesses are unable to secure bank lending to finance their aspirations for growth, particularly if they lack hard assets that can serve as collateral. Local banks often tend to prefer… Read More
Introduction Across the emerging markets, private companies face two persistent growth constraints: expansion capital and expertise. Frequently, small and mid-size businesses are unable to secure bank lending to finance their aspirations for growth, particularly if they lack hard assets that can serve as collateral. Local banks often tend to prefer… Read More
Private equity fund manager Phatisa has entered into an agreement with Rwanda-based real estate developer Kigali Batsinda Estate to develop Izuba City, a 300-unit housing complex in Rwanda. The investment will be structured through the Pan African Housing Fund, a real estate fund managed by Phatisa. Financial details of the… Read More
East Africa-focused private equity firm Ascent Capital Africa has reached a final close for Ascent Rift Valley Fund with more than KES8 billion (approximately US$76 million) in capital commitments, exceeding the initial target of KES6 billion (approximately US$57 million). The fund invests in Kenya, Uganda and Ethiopia. Local pension funds… Read More
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