Thursday 05 March 2015

ARM Harith Infrastructure Fund Announces First Close

ARM Harith Infrastructure Investment Ltd (ARMHIIL) have announced the first close of their ARM Harith Infrastructure Fund (ARMHIF). ARMHIF aims to raise USD250m for investments in transport, energy and utilities in West Africa, mainly Nigeria. ARMHIIL is...

Excellon Launch West Africa Fund

More cash for Nigerian firms: Nigerian boutique investment bank Eczellon Capital have announced the launch of a USD250m West Africa private equity fund that will invest in, amongst others,  deals in energy, infrastructure, oil and gas. Relative...

AXA Acquires Assur Africa Holdings from PE Funds and DFIs

Private equity firms DPI and AfricInvest and their co-investor DFIs DEG, FMO and PROPARCO have sold Assur Africa Holding (AHA) to global insurance and asset management group AXA Group for EUR198m. AHA holds a 77% stake in Nigerian Mansard Insurance Plc....

USD710,000 Seed Funding for West African Start Ups and the Finland Connection

Good news from our internet neighbours over at VC4Africa: IroFit, a Nigerian-Finnish mobile payments start up, raised USD600,000 in seed funding from a group of investors who include ‘Nordic early-stage VC firm Inventure, major Finnish payments industry...

ARM Capital Partners and IFC Announce Co-Investment in Nigerian Food Manufacturer

The World Bank Group’s International Finance Corporation (IFC) and ARM Capital Partners have announced a joint USD9.5m equity in Nigerian Boulos Foods and Beverages Ltd. The IFC will contribute USD3.5m and ARM USD6m. Boulos, incorporated in Ibadan, Oyo...

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...

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