Capitalworks, an independent alternative asset management firm based in South Africa, has agreed to acquire Aon’s shareholding in its African insurance brokerage and employee benefit operations in a number of countries.
The shareholders of the Sindila hydropower project have announced that the 5.25MW run of river project achieved financial close on January 30, 2017 and has commenced construction.
Amethis Finance and Metier have acquired a significant minority stake in the packaged food business of Kenafric Industries, a major FMCG group in East Africa.
Safaricom’s Spark Venture Fund has backed FarmDrive, a Kenyan-based data analytics company developing technologies to address the global $450bn agricultural funding gap.
Injaro Investments, the manager of the agricultural impact fund IACHL, has sold its 30% stake in seed producer Nafaso to the founders and other shareholders.
Star Power Partners II, a mentorship-driven, startup accelerator and seed fund, has participated in a $1.1m investment round in Bamba, a boutique African data collection agency.
ADP I Fund has successfully sold its 27.7% shareholding in CAL Bank in Ghana to Arise BV, a financial services investment company whose major shareholders are Norfund, Rabobank and FMO.
FlightScope, a developer of 3D Doppler ball-tracking radar for sports, has bought out its venture capital partner, HBD Venture Capital.
South African asset manager Stanlib has partnered with Chestnut Uganda for the construction and development of a $50m shopping mall in Kampala.
The Carlyle Group has acquired through its Sub-Saharan Africa Fund, a 75% stake in CMC Networks (CMC), Africa’s largest managed connectivity provider, for over $100m (R1.4bn).
Within a month of its first closing, Ethos Mid Market Fund I has concluded investments into Autozone, Eazi Access and Twinsaver, acquiring 15%, 10% and 15% shareholding accordingly.
African Infrastructure Investment Managers (AIIM) has acquired a 60% effective interest in DSM Corridor Group Tanzania (DCG), a specialist dry bulk terminal operator in the Port of Dar es Salaam.
US venture capital firms Draper Associates and Greycroft Partners alongside existing investors have injected $2.5m in BitPesa, a pan-African bitcoin startup.
The South African M&A market is predicted to grow by 66% in the next two years, according to the Global Transactions Forecast issued by Baker McKenzie in association with Oxford Economics.
