Saturday 25 October 2014

Ghana: GIPCA an Obstacle to Foreign Start Up Funding

Our internet neighbours over at VC4A pointed out that Ghana’s new investment promotion legislation effectively prevents international investment in Ghanaian start ups. Attorney Auria Styles argues that the Ghana Investment Promotion Centre Act, 2013 (...

Injaro Investments Announce Final Close of Agriculture Fund

Injaro Investments Ltd have announced the final close of their USD49m Injaro Agricultural Capital Holdings Ltd, their West Africa fund. New commitments to the fund come from anumber of DFI lie CDC (through their DFID impact fund), FMO (MASSIF Fund), and...

ECP to Exit Continental Reinsurance

Reuters report that Emerging Capital Partners (ECP) are planning to divest from Continental Reinsurance in which they hold a majority stake of 50.6%, having first invested USD25.8m in 2007. Continental Reinsurance is Nigeria’s second largest insurance...

Nigerian Government Hopes to Close VC Fund Shortly

According to Nigeria’s Minister of Communication and Technology, Mrs Mobolaji Johnson, the planned USD15m ICT VC fund will close at the end of June 2014. While Mrs Johnson said that the Nigerian government would provide around USD3.6m for the fund that...

Helios Announce USD50m Investment in Nigerian Pension Fund Manager

Helios LLP have will acquire a minority stake in Nigerian ARM Pensions, Nigeria’s largest independent pension fund manager. The company has USD2.2bn of pension assets under management. Nigeria’s pension market has been growing by around 30% per year since...

Cauris Acquire Stake in Cote d’Ivoire Pharmaceuticals Firm

Cauris Management have made an investment of USD4.2m in Cipharm, a pharmaceuticals manufacturer in Cote d’Ivoire. Cipharm was founded 25 years ago and distributes its products in 12 West and Central African markets. The company plans to use Cauris’ funds...

ECP Exit Oragroup to Gabon’s Strategic Investment Fund

Emerging Capital Partners (ECP) have sold their stake in Oragroup, the Togo-incorporated regional bank holding company, to Gabon’s Strategic Investment Fund (GSIF) after a five-year holding period at 2.2x the initial investment. This investment had been...

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...

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