Enko Capital Managers, an Africa-focused asset management firm, has acquired a minority stake in Madison Financial Services, a Zambia-based insurance and financial services company. The transaction was structured through Enko Africa Private Equity Fund. Financial details of the transaction were not disclosed. Read More
Metier, a private equity and alternative asset firm, has completed a first close for Metier Capital Growth Fund II with an undisclosed amount of committed capital. Investors included South African institutional investors, as well as development finance institutions FMO and DEG. The fund will target mid-cap growth investment opportunities in… Read More
Amethis Finance, a fund manager that provides debt and equity financing to companies in Africa, has acquired a 17.1 percent stake in CIEL Finance, the Mauritius-based banking and financial services division of CIEL Group. Amethis Finance plans to increase its stake to 24.9 percent later in 2015. CIEL Finance intends… Read More
Emerging markets financial services investor LeapFrog Investments has invested US$25 million in AFB Mauritius (afb), a Mauritius-based financial technology company serving consumers and small businesses. The investment was structured through LeapFrog Financial Inclusion Fund II. Afb is active in Kenya, Zambia and Ghana, with plans to expand to adjacent markets… Read More
Private equity fund manager Phatisa has entered into a partnership with Kenya-based property developer Africa Reit to develop a six-acre residential rental complex in Nairobi. The transaction will be structured through Phatisa’s Pan African Housing Fund. Once completed, this project will provide homes to approximately 1,400 young adults. Financial details… Read More
Over the last six months, crude oil prices have fallen from over US$100 to less than US$50 per barrel. While the macroeconomic effects of this decline—falling commodity prices, currency volatility, trimmed economic growth forecasts and more—are far-reaching and varied, particularly in emerging markets, the effect of this drop on the private… Read More
Cyril Odu, Executive Partner and Head of Energy, African Capital Alliance Falling oil prices is a wakeup call that may accelerate some of the reforms that we are expecting in Nigeria. While it might signify bad news in the short term given the immediate implications for the economy, it could… Read More
ARM-Harith Infrastructure Investment Fund, a joint venture between Nigeria-based asset manager Asset & Resource Management Company (ARM) and pan-African infrastructure fund manager Harith General Partners, has held a first close with US$91 million in capital commitments. The fund, which will focus on the transportation, energy and utilities sectors in West… Read More
Pan-emerging markets private equity firm Actis has committed US$230 million to create Ostro Energy, a renewable energy platform focused on India. Ostro Energy’s first project is Tejuva, a 50MW wind project already under construction in Rajasthan. Separately, Actis has launched Lekela Power, a US$1.9 billion pan-African renewable energy platform. Actis… Read More
Private equity firm Ascent Capital has invested US$2.5 million in Ethiopia-based pharmaceutical company Medpharm Holdings Africa. The transaction was structured through Ascent Rift Valley Fund. Medpharm will use the investment to develop a pathology department, as well as to expand its presence throughout East Africa. Read More
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