Saturday 01 October 2016

OPIC to Open Nairobi Office

The US Overseas Private Investment Corporation (OPIC) will open an office in Kenya’s capital Nairobi to serve the East African region. This will be OPIC’s third office in sub Saharan Africa, adding to their presence in South Africa and Côte d’Ivoire....

Adenia Partners Announce Majority Investment in Ivorian Ademat

Adenia Partners have announced the acquisition of a majority stake in Côte d’Ivoire’s Ademat, a local market leader in distributing, installing and maintaining power devices, inverters, and other electrical and IT products. Ademat services corporate...

D.Light Raises USD15m in Series D Equity

D.Light, an East African vendor of solar lights and solar home systems, raised USD15m in Series D equity from KawiSafi Ventures Fund and Energy Access Ventures, NewQuest Capital Partners and Omidyar Network. Additional debt financing came from...

Helios, ResponsAbility Team up for USD18m Investment in Off Grid Electric

PE firm Helios Investment Partners have teamed up with impact investors ResponsAibility to invest USD18m in Tanzania incorporated Off Grid Electric. Helios will commit USD10m for an undisclosed stake, and ResponsAbility are leading a group of lenders to...

Catalyst Add to Manufacturing Portfolio with Orbit Investment

Kenyan Catalyst Principal Partners have announced the acquisition of an undisclosed stake in Kenyan Orbit Chemical Industries, a family-owned business founded in 1972 as a trader of chemicals. Today, the company provides domestic and commercial cleaning...

Equator Capital Partners, Progression Capital Invest in Kenyan Jamii Bora Bank

Equator Capital, via their ShoreCap II fund, and Progression Capital, via their Progression Eastern African Microfinance Equity Fund, have announced an investment in Kenyan Jamii Bora Bank. Jamii Bora has its origins in the social sector, having been...

Fusion Capital Announce Exit from Kenyan Athi River Residential Development

Kenyan private equity firm Fusion Capital have announced the exit from their ‘Graceland’ Athi River residential real estate development at a 2x return for their investors. The project had started in 2008 and Fusion Capital had provided the developer with...

Kiva-Founder Raises USD9.2m for East Africa Mobile Loan Service

VC firm Andreessen Horowitz have teamed up with Khosla Impact and Formation 8 to provide USD9.2m in Series A funding for Branch, the digital banking start up founded by Kiva co-founder Matt Flannery. Previously, Branch had raised USD1.6m from Khosla and...

Duet Acquires Stake in Kenyan Fidelity Bank

British investment firm Duet Group will invest a reported USD18.6m for an undisclosed stake in Kenya’s Fidelity Bank. is paying approximately $18.6 million for an undisclosed stake in Kenya’s Fidelity Bank, helping to raise the banks’ capital base to an...

Kuramo Capital to Invest USD20m in Kenyan TransCentury

US-headquartered investment manager Kuramo Capital will acquire an undisclosed stake in ailing Kenyan investment firm TransCentury for USD20m. This comes just days before the 25 March deadline when TransCentury is due to repay a USD75m, five-year bond....

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