Actis has fully exited its remaining 14.3% stake in Uganda’s principal electricity distribution and supply business, Umeme via the Ugandan and Kenyan capital markets.
Nigerian fintech startup Paystack has raised $1.3m in seed funding from Tencent, Comcast Ventures, Singularity Investments and other international investors.
Oando, Nigeria’s indigenous energy group listed on both the Nigerian and Johannesburg Stock Exchange, has announced the completion of a partial divestment of 49% of the voting rights in Oando’s midstream business subsidiary, Oando Gas and Power (OGP), to Glover Gas & Power B.V., a special purpose vehicle owned by Helios Investment Partners.
DOB Equity, a Dutch family office, AHL Venture Partners, an impact-focused venture capital firm in Africa, and private investors have backed PowerGen Renewable Energy by injecting $4.5m in a Series A investment round.
The African Development Bank (AfDB) is looking to raise up to $400m from DFIs, impact investors and commercial banks for a pan-African renewable energy debt fund.
Ajinomoto has acquired a 33.33% stake in Promasidor Holdings, a major processed foods manufacturer in Africa, for $532m from Tana Africa Capital and the company’s founding partners.
Citigate International, a Dubai based financial consultancy, has announced the successful closing of Safa Afrique with $10m raised from GCC investors.
Gulf Capital, one of the largest alternative investment firms in the Middle East, has reached the final close of its second private debt and mezzanine fund, Gulf Credit Opportunities Fund II, over its target cover of $250m (AED925m).
Algebra Ventures has announced the $40m first closing of its new technology venture capital fund, at the moment the largest in Egypt.
The Amandi Energy consortium has reached financial close and begun construction of the $552m Amandi Energy Power Plant in Aboadze, Ghana.
Lumos Global, a Netherlands-based off-grid solar firm operating in Nigeria, has raised $90m in a funding round from OPIC, Pembani Remgro and other investors.
DOB Equity, a Dutch family office, has invested in Countryside Dairy, at a publicly undisclosed value as part of a commitment to increase social impact investment deals in Kenya.
The Agroforestry Technical Assistance Facility (ATAF), managed by the Common Fund for Commodities (CFC), has achieved a first closing of $2.8m.
Taaleri, a Finnish private equity fund and financial services group, has announced plans to invest Sh10bn ($98m) in East and South African real estate projects, Business Daily reported.
