Emerging markets financial services investor LeapFrog Investments has sold its minority stake in Kenya-based insurance group Apollo Investments to Swiss Re, a global wholesale provider of reinsurance. Apollo, through its wholly-owned insurance subsidiary APA, provides a broad array of insurance solutions across Kenya, Uganda and Tanzania. Financial details of the… Read More
Global growth markets investor The Abraaj Group has acquired a majority stake in South Africa-based food and personal care manufacturer Liberty Star Consumer Holdings (Libstar) from existing shareholders including Metier, Old Mutual Private Equity, Development Partners International and Lereko. Libstar manufactures a broad range of products for the South African… Read More
Mezzanine-focused private investment fund manager Vantage Capital has provided approximately ZAR80 million (approximately US$7 million) in funding to facilitate a management buyout of South Africa-based bedding supplier Dynamic Bedding. The transaction was structured through Vantage Capital II. The company manufactures, distributes and markets bed bases and mattresses that are sold… Read More
Wananchi Group, a Kenya-based provider of broadband and Pay TV services in Eastern Africa, has completed a US$130 million financing round co-led by existing and new shareholders including international telecommunications companies Altice, Liberty Global and ATMT and Africa-focused private equity firms Emerging Capital Partners and Helios Investment Partners. The investment… Read More
Private equity fund manager Phatisa has invested in Meridian Group, a manufacturer and distributor of specialized fertilizer blends with operations in Mozambique, Malawi, Zimbabwe, Zambia and Mauritius. The transaction was structured through Phatisa’s African Agriculture Fund. Meridian Group intends to use the funding to support its expansion plans. Financial details… Read More
Adenia Partners, a private equity fund manager focused on West Africa and the Indian Ocean region, has acquired Mauritius-based Mauvilac, a paint, coatings and chemical products manufacturer and marketer, from the company’s founders and other Mauritian shareholders. The transaction was structured through Adenia Capital (III), a US$125 million fund that… Read More
Frontier markets-focused private equity fund manager XSML has invested in Democratic Republic of the Congo-based meat processing company Manoah Investments. The transaction was structured through XSML’s Central Africa SME Fund. The capital will be used to develop plots of land for residential use in Lubumbashi. Financial details of the transaction… Read More
Vital Capital Fund, an impact investing fund primarily focused on Sub-Saharan Africa, has closed a US$16.6 million equity investment in Angola-based medical clinic Luanda Medical Center (LMC). Vital Capital’s investment was made in conjunction with a US$9.8 million loan from the Overseas Private Investment Corporation (OPIC). LMC, which will begin… Read More
Mezzanine-focused private investment fund manager Vantage Capital has provided mezzanine financing to South Africa-based Austell Laboratories, a 100 percent black-owned pharmaceutical company. The transaction was structured through Vantage's Fund II. Austell intends to use the financing to fund its working capital needs and to expand its range of products. Financial… Read More
International Housing Solutions (IHS), an investment firm focused on residential housing, has reached a first close on its second affordable housing fund, IHS Fund II, with ZAR1.5 billion (approximately US$138 million) in capital commitments. Investors included Overseas Private Investment Corporation, National Housing Finance Corporation, International Finance Corporation, Global Environmental Facility,… Read More
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