Convergence Partners Communications Infrastructure Fund (CPCIF) has made its first West African equity investment, acquiring $20m minority stake in Venture Garden Nigeria (VGN), a diversified fintech company with significant operations in Nigeria.
Investec Asset Management has made a follow-on private equity investment in IHS Towers, the largest African mobile telecommunications infrastructure provider.
Investec Asset Management has recently invested in Intelligent Debt Management, South Africa’s leading and largest consumer debt management company, via its Africa Frontier Private Equity Fund.
Adenia Partners, a private equity firm investing in Sub-Saharan Africa, has invested in Cresta Paints, an auto-refinish and industrial coatings manufacturer and marketer in Africa.
Helios Investment Partners has acquired 100% ownership of Crown Agents’ financial services businesses, Crown Agents Bank (CAB) and Crown Agents Investment Management (CAIM).
The AAF SME Fund, a private equity fund focused on African food production and processing, managed by Databank Agrifund Manager Limited (DAFML), has successfully closed its investment in Norish, one of the largest producers of fortified blended foods and animal feed in Ethiopia.
BIMA, a provider of mobile-delivered insurance in emerging markets, has raised $38.4m from LeapFrog Investments, Investment AB Kinnevik and other existing shareholders.
Kagiso Tiso Holdings (KTH) has acquired a substantial equity stake in Me Cure Healthcare, Nigeria’s healthcare diagnostics company.
Injaro Agricultural Capital Holdings, a $50m impact investment fund managed by Injaro Investments, has made an investment in Agricare, a Ghanaian-owned animal feed producer based in Kumasi.
Fanisi Capital has acquired a significant minority stake in Kijenge, a Tanzanian agro-processing company, for $6m.
The Public Investment Corporation (PIC) has funded the acquisition of AFGRI Poultry and AFGRI’s Kinross Animal Feeds Mill by AFPO Consortium, a South African black economic empowerment consortium led by Matome Maponya Investments.
The Abraaj Group has acquired a majority stake in Mouka, a mattress manufacturer in Nigeria, from previous shareholders, Actis and the founding family, with the latter retaining a minority stake in the company.
Helios Investment Partners and the Vitol Group have reached an agreement to acquire 60% of the economic rights and 51% of the voting rights in the West African downstream business of Oando, an integrated oil and gas company headquartered in Nigeria, for around $276m.
American Capital Energy & Infrastructure (ACEI) has revealed its plans to invest in Senegal's first industrial-scale wind power project and the largest wind farm planned in West Africa.
