In May 2013, Leapfrog invested US$5.5 million in Express Life Insurance Company Ltd. for a majority stake in the company. Company Headquarters: Ghana Business focus: Insurance and savings for emerging consumers Impact Highlights With LeapFrog’s support, Express Life increased value to the customer and shareholder by creating new partnerships, products… Read More
Pearl Capital Partners (PCP), an East Africa-focused agriculture investment firm, and philanthropic foundation Voxtra have completed a joint investment in Uganda-based poultry company Biyinzika Enterprises. The transaction was structured through PCP’s African Agricultural Capital Fund and the Voxtra East Africa Agribusiness Fund. Biyinzika produces day-old chicks for small-scale and… Read More
Africa-focused private equity firm Development Partners International (DPI) has held a first close on its second buyout fund at US$250 million, with a final target of US$500 million. Investors in the fund include the United States’ Overseas Private Investment Corporation, which will commit up to US$150 million. African Development… Read More
Vantage Risk Capital, a subsidiary of private equity fund manager Vantage Capital Group, has provided ZAR90 million (approximately US$8.7 million) in mezzanine debt funding for the 100 percent acquisition of Reatile Timrite (Timrite), a South Africa-based supplier of mining support products, by African investment management firm Thebe Investment Corporation… Read More
At its May meeting in Washington, EMPEA’s Legal and Regulatory Council discussed the regulatory changes facing the private equity industry and the likely impact of those changes on the membership of EMPEA. The Council concluded that some of the changes, such as the European Alternative Investment Fund Managers Directive (AIFMD),… Read More
Private equity is a longstanding component of Africa’s economic landscape. However, strong growth, an expanding middle class, and a global trend that is seeing more investors seeking growth from a broader and more varied range of markets is driving an increased interest in the region. In 2007, Sub-Saharan Africa… Read More
Pan-emerging markets private equity firm Actis will acquire a 100 percent stake in Paycorp, a South Africa-based payments business, together with the company’s management team for US$95 million. Actis and the management will purchase the stake from financial services group Transaction Capital, which bought the company in 2006. Paycorp… Read More
South African alternative asset management firm Capitalworks has raised ZAR2.7 billion (approximately US$275 million) for Capitalworks Private Equity Fund II. The fund, which was oversubscribed, attracted commitments from global institutional investors, high net-worth families and charities. Capitalworks plans to invest in mid-market South African companies operating in sectors such… Read More
Frontier markets-focused private equity fund manager XSML has invested in Democratic Republic of the Congo-based Rehoboth, a supermarket and bakery. Rehoboth intends to use the capital injection to purchase a larger building and new industrial bakery equipment. Financial details of the transaction, which was structured through XSML’s Central Africa… Read More
Pan-Africa focused private equity group Databank Agrifund Manager Limited’s AAF SME Fund, a sub-fund of the Africa Agriculture Fund, which in turn is managed by private equity fund manager Phatisa, has invested in Madagascar-based Guanomad, a producer of guano-based organic fertilizer. The financing is intended to increase the reach… Read More
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