Sub-Saharan Africa-focused private equity firm Adenia Partners has invested in Ghana-based auto-refinish and industrial coatings manufacturer and marketer Cresta Paints. The transaction was structured through Adenia Capital (III). The company will use the new investment to increase its exports, expand internationally and develop its products. Financial details of the transaction… Read More
African investment management firm Convergence Partners has reached a final close for Convergence Partners Communication Infrastructure Fund (CPCIF) with more than US$200 million in capital commitments. The fund targets ICT infrastructure investments in Africa. Investors in CPCIF included: the Public Investment Corporation, the asset management company of South Africa’s Government… Read More
African investment management firm Convergence Partners has reached a final close for Convergence Partners Communication Infrastructure Fund (CPCIF) with more than US$200 million in capital commitments. The fund targets ICT infrastructure investments in Africa. Investors in CPCIF included: the Public Investment Corporation, the asset management company of South Africa’s Government… Read More
Global alternative asset manager The Carlyle Group has agreed to sell its minority stake in Tanzania-based agriculture processing and logistics company Export Trading Group to the company’s management. Financial details of the transaction, which will be structured through Carlyle Sub-Saharan Africa Fund, were not disclosed. Read More
Africa-focused asset management firm Investec Asset Management has agreed to invest in South Africa-based consumer debt restructuring company Intelligent Debt Management (IDM Group). IDM Group helps clients manage, consolidate and restructure their debts, and provides financial education to consumers. Financial details of the transaction were not disclosed. Read More
Southern Africa-focused private equity firm Takura Capital will invest US$33 million to acquire a controlling interest in Zimbabwe-listed fast moving consumer goods manufacturer Cairns Holdings. The majority of the new funds will be used to clear the company’s current debts, while additional funds will be used to recapitalize the company. Read More
West Africa-focused impact-oriented fund manager Injaro Investments, through its impact investment fund Injaro Agricultural Capital Holdings (IACHL), has signed an agreement to invest in Ghana-based animal feed producer Agricare. The investment will be structured through IACHL’s Ghanaian subsidiary Injaro Agricultural Venture Capital. Agricare will use the new investment to increase… Read More
Pan-African private equity firm AfricInvest has reached a second close for AfricInvest Fund III with commitments from private investors and development finance institutions, including a EUR20 million (approximately US$22 million) commitment from the African Development Bank. The fund, which held a first close with EUR154 million (approximately US$199 million) in… Read More
East Africa-focused private equity and venture capital investor Fanisi Capital has invested US$6 million for about a 40 percent stake in Tanzania-based agro-processing company Kijenge Animal Products. The company, which is involved in maize flour milling, animal feed milling and poultry production, intends to use the capital to diversify its product… Read More
Metier, a private equity and alternative asset management firm, has sold its stake in South Point, a South Africa-based company that redevelops distressed urban properties to provide accommodation to students and unemployed graduates. The Unemployment Insurance Fund, managed by South Africa’s Public Investment Corporation, acquired the company in June. Metier… Read More
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