Vantage Capital exited South Africa-based real estate development company Alleyroads for an undisclosed amount after providing an initial ZAR82m (~USD5m) in mezzanine financing in May 2020 for the development of Kayalane Heights, an affordable housing development in Limpopo province. Read more… Read More
AfricInvest sold its stake in Tunisia’s microfinance institution Financial Center for Entrepreneurs (CFE) after a seven-year investment to CFE chairman Radhi Meddeb for an undisclosed amount. AfricInvest and Développement International Desjardins established CFE in 2015. Read more… Read More
Sava, a South Africa-based fintech for SMEs, raised a USD2m pre-seed round from investors Quona Capital, Breega, CRE Ventures, Ingressive Capital, RaliCap, Unicorn Growth Capital and Sherpa Ventures. Read more… Read More
Tencent and Alchimia led a USD6m Series A for Kenya-based Kukua, a children’s educational entertainment company, with participation from Auxxo and follow-on from EchoVC Partners and Firstminute Capital. Read more… Read More
TLcom agreed to invest USD2m in FirstCheck Africa’s USD10m debut fund. Read more… Read More
Amethis, with its partners IFC, DEG and MCB Private Equity, agreed to sell its 30% stake in Kenya-based retail chain Naivas Supermarket to IBL Group for an undisclosed amount. Read more here and here… Read More
Accion Venture Lab led a USD2m seed round for Kuunda, a Tanzania-based fintech lender, with participation from Finca Ventures, Launch Africa, Seedstars, Mercy Corps Ventures, Greenhouse Capital, Kepple Africa Ventures, Future Africa, The Magic Fund and other fintech angel investors. Read more… Read More
Fortissimo Capital led a USD30m equity Series A for Ghana-based fintech Fido, with participation from Yard Ventures, a VC fund by Harvard alumni, and an additional undisclosed amount in debt funding. Read more… Read More
Admaius Capital Partners led a USD100m debt and equity Series C extension for Ghana-based digital payments network MFS Africa, with participation from Vitruvian Partners and AXA IM Alts and follow-on from AfricInvest FIVE and CommerzVentures. Stanbic IBTC Bank Nigeria and Symbiotic provided the debt financing.The new funding brings the total… Read More
Beyond Capital Ventures led a USD2m seed round for XENO, a Uganda-based investment management platform. Read more… Read More
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