Africa-focused mezzanine investor Vantage Capital has provided US$10 million worth of financing to Uganda-based Simba Properties Investment Company, the property investment arm of Simba Group, which houses three operating properties and two properties under development. The transaction was structured through Vantage Mezzanine Fund II. Simba Group’s three operating properties are… Read More
Private equity fund manager Zouk Capital and solar energy company SolarCity have led a US$16 million investment round for Tanzania-based off-grid energy provider Off Grid Electric. Vulcan Capital, the private investment firm of Microsoft co-founder Paul Allen, also participated in the round. Off Grid Electric plans to increase its product… Read More
Amethis Finance, a fund manager that provides debt and equity financing to companies in Africa, and Retail Holding, the parent company of Moroccan food distributor Label’Vie Group, have jointly invested in Côte d'Ivoire-based food distribution company Compagnie de Distribution de Côte d'Ivoire (CDCI). CDCI owns and operates wholesale, semi-wholesale and… Read More
International private equity firm Permira has agreed to acquire 100 percent of the equity in South Africa-based Teraco in partnership with the company’s management. The transaction was structured through Permira V. Established in 2008 after the deregulation of South Africa’s telecoms market, Teraco provides carrier-neutral datacenter services in Sub-Saharan Africa. Permira’s… Read More
Pan-African private equity firm Development Partners International (DPI) has acquired a minority stake in South Africa-based home shopping retailer HomeChoice International. The transaction was structured through DPI’s second fund, African Development Partners II. DPI’s investment will be followed by HomeChoice’s listing on the JSE in December. Financial details of the… Read More
Funds managed by pan-African private equity firms Development Partners International (DPI) and AfricInvest Group, as well as European development finance institutions DEG, FMO and Proparco, have agreed to sell 100 percent of Assur Africa Holding (AAH) to global financial services company AXA Group for EUR198 million (approximately US$247 million). AAH… Read More
Global alternative asset manager The Carlyle Group and South-Africa focused private equity fund manager Old Mutual Private Equity have agreed to acquire 100 percent of South Africa-based tire retailer and wholesaler Tiger Automotive from Ethos Private Equity and the company’s founders for a reported ZAR2 billion (approximately US$182 million). Funding… Read More
Global alternative asset manager The Carlyle Group has invested US$147 million in Nigeria-listed commercial bank Diamond Bank. The transaction, which came as part of Diamond Bank’s recently completed US$305 million rights issue, was structured through Carlyle’s Sub-Saharan Africa Fund. Proceeds will be used for the development of the bank’s IT… Read More
East Africa-focused private equity and venture capital investor Fanisi Capital has received regulatory approval from the Competition Authority of Kenya to acquire a 40.2 percent stake in Kenya-based Ngare Narok Meat Industries. Ngare Narok Meat operates a modern abattoir, meat processing plant and rendering plant. Fanisi Capital reported in August that… Read More
Emerging markets financial services investor LeapFrog Investments has announced that it intends to acquire a majority stake in Kenya-based general insurer Resolution Insurance for KES1.7 billion (approximately US$18.7 million). The transaction will be structured through LeapFrog Financial Inclusion Fund II. Resolution Insurance has operations in Kenya and Tanzania, and the… Read More
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