Wednesday 23 April 2014

Novare to Raise Second PE Property Fund

Novare Private Equity have announced that they will raise a second, USD250m fund for real estate investments, focused on Nigeria and other West African countries. The first fund, closed three years ago, will have given them a useful practice run in a...

Amethis Finance to Acquire Minority Stake in Fidelity Bank Ghana

  Amethis Finance and Edmond de Rothschild Europportunities Management II (ERES) will acquire a minority stake in Fidelity Bank Ghana Ltd for USD35m. South African Kagiso Tiso Holdings (KTH) will invest a similar amount alongside Amethis and ERES,...

AFIG Raise Additional USD18.4m from CDC

CDC have announced a further commitment of USD18.4m to the Advanced Finance and Investment Group’s (AFIG) Atlantic Coast Regional Fund (ACRF), which raises their overall commitment to USD33.4m. AFIG are in the process of a rights issue that will increase...

LeapFrog Renew Ghana Engagement with Pension Fund Deal

Emerging markets financial services investor LeapFrog have acquired a 25% stake in Petra Trust, one of Ghana’s largest pension firms. Petra plan to use the funds to invest in infrastructure and systems, and to expand their business beyond the capital....

AfricInvest Complete Broron Oil & Gas Investment

AfricaInvest are reported to have completed their USD20m investment in Broron Oil & Gas Ltd, a Nigerian oil and gas services company, through their EUR143m Pan African Fund AfricInvest II. Broron ‘aspires to become a world class service provider in...

LeapFrog Exit Ghanaian Express Life

LeapFrog Investments will exit Express Life Insurance Company (Express Life) in Ghana to British insurer Prudential plc who will acquire 100% of the company for an undisclosed sum. The transaction is Prudential’s first insurance investment in sub Saharan...

Jacana Partners Invest in Ghanaian Mining Supplier

Jacana Partners have announced an investment in Ghana-incorporated Process and Plant Sales (PSS) Ltd, a company selling products from the world’s leading brands and services to the mining, construction and processing industries. With Jacana’s funding,...

Actis in USD220m Energy Investment in Cameroon

Emerging markets investor Actis are planning to acquire US American energy firm AES’s stake in three power assets in Cameroon for USD220m. Under this transaction, Actis will acquire 56% of the country’s national integrated utility, Société Nationale d’...

AfDB authorize USD20m Contribution to ARM-Harith Infrastructure Fund

The African development Bank (AfDB) approved a USD20m anchor investment in the ARM-Harith Infrastructure Fund (ARMHIF), a new Nigerian PE fund that aims to raise USD205m. ARMHIF aims to invest in infrastructure projects and companies across West Africa,...

AFDB Provides Additional USD10m to AFIG’s ACRF

The African Development Bank (AfDB) will increase its financial commitments to the Atlantic Coast Regional Fund (ACRF), a 10-year, USD72m generalist fund, by an additional USD10m. AfDB had already committed USD15m in 2007. ACRF is managed by the Advanced...

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