Sunday 31 August 2014

Fusion Group to Exit Bakery Group via Securities Exchange

The Star reports that Fusion Group are considering exiting its 45% stake in GAL Baking Services Ltd through a listing on the new Growth Enterprise Market Segment (GEMS) on the Nairobi Securities Exchange (NSE). Fusion had invested KES254m in the bakery in...

Guest Post: Invested Development on Tech Subsidies

Nairobi has grown to be a key hub for emerging-market based technologyinvestors. The relative stability, strong regional GDP growth, comparably modern infrastructure, and a growing technology community make it attractive for many of us. For the same...

Ascent Capital Announce USD50m First Close

Ascent Capital have been working away at this – and a deal in Ethiopia – for a while, but are finally ready for at least one announcement: The fund managers have raised USD50m for their Ascent Rift Valley Fund (ARVF). Interesting about this is that it’s...

Fusion Capital Acquire Stake in Xtra Publishing Ltd

Fusion Capital have announced the acquisition of a 40% stake in Kenya-incorporated Xtra Publishing Ltd, the publisher of free newspaper X News launched in the March 2014 in the capital Nairobi. Fusion’s funds will be invested in IT and editorial systems...

Match Maker Group Launch SME Impact Fund in Tanzania

Another SME fund for Tanzania: Advisory and investment firm Match Maker Group launched the SME Impact Fund (SIF) in Dar es Salaam, Tanzania. SIF will be a debt fund: They are looking to lend at 20% p.a. in local currency on a declining balance – this...

8 Miles in the Market for Chicks

It’s all about the chicks: 8 Miles have announced an investment in Uganda’s Biyinzika Poultry International Ltd (BPIL). The amount invested was not disclosed. Founded in 1990, BPIL is the market leader for day-old chicks and has 21 outlets around the...

Invested Development Acquire Stake in iProcure Agricultural Services Start Up

Early-stage impact investment fund Investment Development have announced the acquisition of an undisclosed stake in iProcure, a technology start up in Kenya, through their BSP Fund. IProcure provide software for agricultural retailers to support their...

CDC Commit USD20m to Actis’ Electricity Investment in Cameroon

British CDC will invest USD20m in the Société Nationale d’Electricité (SONEL), Cameroon’s national electricity utility, and in two independent power plants, Kribi and Dibamba. This will be part of a USD202m investment led by emerging markets private...

First USD50m Close for Kibo Fund II

Kibo Capital Partners have announced the first close of their second fund, Kibo Fund II, launched in 2012. This is good progress towards their target of USD80m, roughly double of the first Kibo Fund I. The fund will target SMEs in Eastern and Southern...

Global Investment Firm KKR Make First Africa Investment in Ethiopian Flower Farm

Global investment firm Kohlberg Kravis Roberts (KKR) have made their first Africa private equity deal with a USD200m investment in Ethiopian flower firm Afriflora. Dutch Afriflora set up the Ethiopian operation, Sher Ethiopia, in 2004, and in 2008 took...

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