Pembani Remgro Infrastructure Fund—a joint initiative established by investment holding company Remgro and Pembani Group chairman Phuthuma Nhleko—has reached a first close with US$245 million in capital commitments. In addition, the fund has received a further commitment equal to 20 percent of the fund size, capped at US$100 million, from… Read More
Infrastructure investment firm African Infrastructure Investment Managers (AIIM) and Africa-focused power developer Joule Africa have entered into an agreed framework that provides AIIM the opportunity to become a major equity investor in power projects being developed by Joule Africa. Joule Africa’s current development interests include Bumbuna II, a hydro-electric project… Read More
East Africa-focused private equity and venture capital investor Fanisi Capital has acquired a minority stake in Kenya-based outdoor advertising firm Live Ad. The investment was structured through Fanisi Venture Capital Fund. Live Ad intends to use the fresh capital to expand its presence across Kenya and grow its product and… Read More
Africa-focused telecom tower company Eaton Towers has raised US$350 million in a new round of funding. Participants in the round included existing shareholders Capital Group Private Markets, a global private equity investor, and pan-African private equity firm Development Partners International (DPI), as well as new investors Ethos Private Equity, a… Read More
Pan-African private investment firm Helios Investment Partners has agreed to invest US$100 million for a 12.4 percent stake in Stockholm- and Toronto-listed Africa Oil, an oil and gas company with assets in Kenya, Ethiopia and Somalia. Africa Oil intends to use the capital to help finance its ongoing appraisal and… Read More
Key findings from the 2015 LP Survey: Over the next two years, 33% of LPs* plan to increase the percentage of their total PE allocation targeted at emerging markets (versus 41% in the 2014 survey), and 47% of LPs* anticipate increasing the dollar value of new commitments to EM… Read More
Advanced Finance & Investment Group (AFIG Funds), a Sub-Saharan Africa-focused investment fund management company, has completed an investment in real estate development company Primrose Properties Ghana. Primrose will use the investment to fund a pipeline of commercial, residential and mixed-use property development projects. Financial details of the transaction, which was… Read More
Nigeria-focused private equity firm Verod Capital has acquired trust and asset management services company Union Trustees, a fully-owned subsidiary of Union Bank of Nigeria, in partnership with company management. Financial details of the transaction, which was structured through Verod Capital’s Fund II, were not disclosed. Read More
Vital Capital, an impact investing firm primarily focused on Sub-Saharan Africa, has exited two Angola-based infrastructure projects: Sumbe-Gabela-Waku Kungo, an electricity transmission line project, and Water For All, a potable water distribution project. Cumulatively, the two exits yielded a reported IRR of over 24 percent. Financial details of the transactions,… Read More
East Africa Capital Partners (EACP), a venture capital fund manager focused on the technology, media and telecommunications sectors in the greater Eastern Africa region, is deploying KES4.6 billion (approximately US$48.4 million) to set up data centers in Kenya and Tanzania. EACP expects the projects in Mombasa and Dar es Salaam… Read More
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