Friday 06 March 2015

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 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...

ADC Exit Resolution Health to LeapFrog

African Development Corporation (ADC) have announced the sale of their 38.74% stake in Resolution Health East Africa (RHEAL) to Peter Nduati, the CEO and founder of the company, and LeapFrog Investments who will be acquiring a majority stake from a...

Catalyst Invest in Microfinance Bank

Busy year end: at their annual investor reception, Nairobi private equity firm Catalyst Principal Partners announced the acquisition of an undisclosed stake in microfinance bank Jamii Bora. Two months ago, in September, the Catalyst team had completed an...

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