With an investment return of 3.3x, CDG Capital Private Equity, a private investment fund that manages family of funds focused on private equity investing in Moroccan and African SMEs, has exited from Jet Contractors through a sale on the Casablanca Stock Exchange.
QGIAM, the private equity arm of Africa focused investment firm Quantum Global, has sold its interest in Savannah Cement, a Kenyan cement producer, following the receipt of regulatory approvals.
Dutch Oak Tree Foundation (DOTF) as well as multiple minority shareholders have sold their stakes in Joseph Initiative (JI) to Agilis Partners, an agricultural development company based in Uganda.
Spirit Capital has sold its majority stake in Tidy Files, a provider of end-to-end document management and storage solutions in Southern Africa, for R75m to Metrofile Holdings Ltd.
Convergence Partners Investments, an investment firm focused on the TMT sector in Africa, has exited its investment in specialist IT services and solutions company, Dimension Data Middle East & Africa (DiData), for an undisclosed sum. Convergence Partners Investments first invested in DiData in 2004 as part of the original DiData B-BBEE transaction and remained invested until June 2017. The contractual investment term ended in September 2016 and Convergence Partners and DiData negotiated a consensual exit to the investment. "Convergence Partners has now fully exited its shareholding in DiData and Andile Ngcaba has stepped down from the various group Boards on which he served and as Executive Chairman of DiData," the firm said in a statement. Convergence Partners continues to invest in TMT companies across sub-Saharan Africa that it believes will deliver enhanced returns for investors, while underpinning continental development. Dimension Data provides IT products and services, and has operations in five territories: Americas, Asia Pacific, Australia, Europe, and the Middle East & Africa.
Agri-Vie Fund I has exited from one of South Africa’s most respected value-added dairy companies, Fairfield Dairy, to a private investment trust, linked to the founding family for an undisclosed sum.
South African private equity firm Metier has partially exited its investment in plastic products manufacturer Astrapak and has agreed to exit Inhep Electronics Holdings (Inhep).
Qalaa Holdings has announced that its subsidiaries ASEC Cement and ASEC Cement Djelfa Offshore have completed the sale of 100% of ASEC Ciment Algérie (AACC) to an Algerian investor at a deal value equivalent to $60m.
Investec Asset Management has exited from its mezzanine investment in SA Taxi, the first financial services provider to focus solely on the taxi industry in South Africa.
Actis has sold its remaining 7.5% stake in Edita Food Industries (Edita) to 42 blue-chip international investors from the USA, UK, Germany, South Africa, and the UAE.
AfricInvest and Mediterrania Capital Partners have sold their stakes in Grupo San Jose & Lopez (SJL), a logistics and international road freight transport company with operations in the Maghreb and Europe.
Centum has sold its 26.43% stake in KWA Holding East Africa (KWA), one of the foremost manufacturers and distributors of spirits and wines in Kenya, to Distell International Holdings, a subsidiary of Distell Group.
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.
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.
