Global emerging markets private equity firm Actis has sold its 80 percent stake in Banque Commerciale du Rwanda (BCR) to a consortium of investors including Kenyan regional bank I&M Bank Limited and French and German development finance institutions Proparco and DEG, with the Government of Rwanda retaining a 20… Read More
Adlevo Capital Managers, a private equity fund manager focused on technology investments in Sub-Saharan Africa, and Intel Capital, Intel’s global investment and M&A arm, have invested in Rancard Solutions, a Ghana-based provider of cloud-based mobile software and services. Rancard’s services map connections among mobile users, allowing operators to deliver… Read More
Waco International, a South Africa-based provider of forming, shoring and scaffolding services, as well as mobile modular buildings and sanitation services, has been sold to a consortium led by Ethos Private Equity. Also participating in the transaction were South African private equity firm RMB Ventures, African bank Standard Bank… Read More
Global emerging markets private equity firm Actis has made a real estate investment in Kenya. Garden City, a 32-acre mixed-use development in Nairobi, will include a retail mall, commercial facilities, 500 new homes and a 4-acre central park with an outdoor events arena. Financial details of the transaction are… Read More
Global growth markets private equity fund manager Aureos has invested US$1.7 million in Clinique Biasa, a private hospital and clinic based in Togo. Aureos made the investment through the Africa Health Fund, a US$105 million fund which includes the Bill & Melinda Gates Foundation, IFC, the African Development Bank… Read More
Netherlands-based private equity fund manager XSML has invested in Le Palmier, an education institution operating three schools in the Democratic Republic of the Congo (DRC). XSML made the investment through its Central Africa SME Fund, which provides capital and managerial support to entrepreneurs in DRC and the Central African… Read More
Silk Invest, a U.K.-based specialist asset manager focused on Africa, the Middle East and Asia, has acquired a significant minority stake in NAS Foods, a biscuit producer based in Ethiopia. Silk Invest made its investment through the Silk African Food Fund. NAS Foods will use the investment to upgrade… Read More
The Board of Directors of U.S. development finance institution Overseas Private Investment Corporation (OPIC) has approved US$65 million in financing for Medu Capital Fund III, a fund managed by South Africa-based private equity firm Medu Capital. The fund, which has a target capitalization of US$300 million, will invest… Read More
XSML, a Netherlands-based emerging markets private equity fund manager, has announced an investment in Millenium Telecom, an internet services provider based in the Central African Republic. XSML made the investment through the Central Africa SME Fund. Millenium Telecom plans to develop a mobile broadband internet network serving individuals and… Read More
IFC, a member of the World Bank Group, will invest US$35 million in the Convergence Partners Communications Infrastructure Fund, which will focus on new, open access communications networks and related services across Africa. Fund manager Convergence Partners, an investment management and advisory firm based in South Africa, is targeting… Read More
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