Sunday 11 December 2016

8 Miles, Consortium Invest USD80m in Minority Stake in Nigerian Beloxxi

PE fund manager 8 Miles have teamed up with, amongst others, Nigerian African Capital Alliance and German DFI DEG to acquire a minority stake in Nigerian biscuit manufacturer for USD80m. The funding will enable Beloxxi to expand its domestic production...

AFDB Approves USD9m Investment in Fund for Agricultural Finance in Nigeria

The African Development Bank (AfDB) has approved a USD9m equity investment in the Fund for Agricultural Investment in Nigeria (FAFIN). FAFIN combines ‘financial, capacity-building and technical assistance to commercially viable SMEs in the Nigerian...

Duet Team up With AMCON for Distressed Assets Fund

British private equity group Duet have reportedly signed an public private partnership agreement with the Asset Management Corporation of Nigeria (AMCON) to set up a fund for investments in turnaround or distressed assets in Nigeria’s fast...

Africa Finance Corporation Issue Debut CHF100m Bond

The Africa Finance Corporation (AFC) have announced the issue of their debut senior unsecured CHF100m bond. AFC say that the bond will allow them to further diversify their funding sources and provide additional long-term liquidity support to the company’...

Vantage Capital Finance Nigerian Landmark Africa with USD20m

South African Vantage Capital have announced an investment of USD20m in Nigerian property developer Landmark Africa. Landmark manage over 130,000 square metres of serviced office space for international and local corporate across the continent, provide...

Ringier Africa Deals Group Acquire Nigerian E-Commerce Site DealDey

Ringier Africa Deals Group have announced the acquisition of DealDey, one of Nigeria’s largest online shopping platforms. DealDey, founded in 2011 by entrepreneur Simdul Shagaya and Investment AB Kinnevik, now has over 1m users, 15,000 active merchants,...

Verod’s Fund II Exceed Target at USD115m

Verod Capital Management have announced the final close of their Verod Capital Growth Fund II at USD115m, exceeding the initial target of USD100m. In their press release, Verod emphasise the broad mix of backers: ‘Verod Fund II is supported by a diverse...

LeapFrog Announce Investment in Ghanaian UT Life Insurance

Emerging markets impact investor LeapFrog Investments have announced the acquisition of a majority stake in Ghana’s UT Life Insurance Company Ltd. UT Life holds a significant market share in funeral and educational savings policies, with currently nine...

PCM Capital Acquire Stake in First Atlantic Bank Ghana

PCM Capital have announced the acquisition of a 15% stake in First Atlantic Bank Ghana through their EUR38.5m West Africa Emerging Markets Growth Fund (WAEMGF). The amount invested was not disclosed, but the transaction is structured as a combined private...

Actis Announce USD62m Investment in Nigerian Sigma Pensions

Emerging markets private equity firm Actis announced the acquisition of a majority stake in Sigma Pensions, one of Nigeria’s leading pension fund administrators, for USD62m. Sigma was founded in 204 and has over 650,000 members and a foot print of 11...

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