Union Global Partners, a consortium of Nigerian and international investors, has invested US$500 million in Union Bank of Nigeria for 65 percent of the bank’s outstanding common shares. Union Global Partners was formed to recapitalize the bank and is comprised of six core investors: private equity firms African Capital… Read More
Global emerging markets investor Actis has confirmed the final close of its second Africa-focused real estate fund, Actis Africa Real Estate 2, with total commitments of US$278 million. The fund will focus on retail and office developments in East Africa, West Africa and Southern Africa, excluding South Africa. Actis’s… Read More
South African alternative asset management firm Capitalworks Equity Partners is acquiring a majority stake in Rhodes Food Group, a South African diversified foods producer. Rhodes Food Group produces prepared meals, dairy products, pies and canned foods, and operates its own agricultural and processing facilities. Financial details of the transaction… Read More
Sub-Saharan Africa-focused private equity fund manager XSML has invested in SOGETRA, a river and road transportation company in the Democratic Republic of the Congo, through its Central Africa SME Fund, which is targeting US$25 million in commitments. SOGETRA plans to use the investment to construct new barges and tugboats… Read More
South African asset management and advisory firm Marlow Capital has acquired an indirect holding in Waste Giant, a South African supplier of commercial and industrial waste solutions, through its portfolio company Wasteman Holdings, a South African waste management company. The investment will allow Wasteman to develop waste treatment assets,… Read More
Uganda-based agriculture investment management firm Pearl Capital Partners has made its second investment in Tanzanian seed company Highland Seed Growers. The US$1.25 million investment was made using a quasi-equity debt instrument using capital from the US$12 million African Seed Investment Fund (ASIF). Pearl Capital Partners manages ASIF on behalf… Read More
Sub-Saharan Africa-focused private equity fund manager XSML has invested in Promed, a generic drug manufacturer based in the Democratic Republic of the Congo (DRC). The investment was made from XSML’s Central Africa SME Fund, which targets investments in the DRC and the Central African Republic. Promed manufactures approximately 80… Read More
The Norwegian Investment Fund for Developing Countries (Norfund) has invested US$10 million in Chayton Atlas Investments (Chayton), a company that develops and operates farms in Zambia and other countries in Sub-Saharan Africa. Norfund’s investment will be used to expand the operations of Chayton, including through investments in… Read More
The African Development Bank (AfDB) has invested US$7 million in the Pan African Housing Fund (PAHF), an Africa-focused fund managed by private equity fund manager Phatisa Group. The fund will invest in lower-middle and middle class residential housing in African urban areas. Shelter-Afrique, an African housing finance and development… Read More
International Housing Solutions (IHS) invested ZAR105.8 million (US$13.2 million) to develop the project and committed an additional ZAR24.1 million (US$3.1 million) for the purchase of 162 units for its own rental portfolio Company Headquarters: South Africa Business focus: Residential real estate Impact Highlights Fleurhof helps close the gap in the… Read More
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