Thursday 26 March 2015

DFI LPs Sponsor New Energy Access Fund

A group of DFI LPs have teamed up with Schneider Electric to launch the Energy Access Fund, intended to ‘improve access to sustainable energy in sub Saharan Africa’. The DFIs have partnered with Schneider Electric, a global energy management company. The...

8 Miles Co-Invest in Ugandan Bank

8 Miles have joined a consortium of local investors to buy Bank PHB, formerly Orient Bank, from the current Nigerian owners. The consortium includes the original founders of Orient Bank who lead the consortium as well as Chinese business man who is a...

Phatisa’s PAHF Tackle First Real Estate Project with Africa Reit

Phatisa’s Pan African Housing Fund (PAHF) will, together with Africa Reit Ltd, acquire a six-acre property in Nairobi’s suburb Karen Langata to develop affordable housing for around 1,400 people, a total investment of around USD20m. The Karen Langata area...

Ascent Capital Raises USD from Second Kenyan Pension Fund

Ascent Capital have raised funds from a second Kenyan pension fund, the Nation Media Group’s Staff Retirement Benefits Scheme, for their Ascent Rift Valley Fund (ARVF). In July 2014, Ascent had announced their first USD50m close, which included an albeit...

Ascent Capital Acquire Stake in Ethiopian Clinical Laboratories in First Deal

In their first deal, Nairobi-based Ascent Capital will invest USD2.5m from their their Ascent Rift Valley Fund (ARVF), in Medpharm Holdings Africa, a holding firm for medical diagnostic laboratories that operates International Clinical Laboratories in...

M-KOPA Solar Raise USD12.45m in Fourth Funding Round

Kenya-incorporated solar light distributor M-KOPA have announced that they have raised USD12.45m in debt and equity in their fourth funding round. This round was led by LGT Venture Philanthropy who first invested in M-KOPA in 2011. Lundin...

Phatisa’s AAF Invest in Kenya’s General Plastics Ltd

Through their African Agriculture Fund (AAF), fund manager Phatisa have invested in Kenya-incorporated General Plastics Ltd, a manufacturing of packaging products for producers in the food, beverage and agro-chemical sector in Eastern Africa. This is AAF’...

Ascent Capital Looking for an Extra USD10m for First Fund

In an interview with Reuters, Ascent Capital’s partner Guy Brennan said that the fund manager would seek to increase their first fund by USD10m to USD60m. The Ascent Rift Valley Fund had been launched in February 2014 with USD40m, targeting Eastern Africa...

Amethis Acquire 30% Stake in Kenyan Ramco

Amethis Finance have announced the acquisition of a 30% stake in Ramco Plexus, a Kenya-incorporated group of nine companies that provide services in print, packaging, hardware, office supplies and ICT consulting services in East Africa. Ramco Plexus has...

Centum, Others Increase Shareholding in Kenya’s K-REP Bank

Triodos Bank, through their Triodos Sustainable Finance Foundation subsidiary, have sold their 14.5% stake in Kenyan K-REP Bank to existing shareholders Centum Investment Company Ltd, and K-REP Group for an undisclosed amount. Centum now own a controlling...

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