Wednesday 01 October 2014

British Titanium Capital Acquire Stake in Lesotho Diamond Mine

British private equity firm Titanium Capital have acquired a 29% stake in Lesotho’s Paragon Diamond Mines for GBP2.65m (USD4.3m). Manduca plan to use the cash to fund the development of the Lemphane mine, which is due to start producing in early 2015. The...

Africa Investment Outlook: Discussing PE, Energy, Infrastructure

On 27 March, we participated in the Africa Investment Outlook with Cross-border Information’s CbI Meetings, which was hosted by global law firm King & Wood Mallesons SJ Berwin in lovely London offices at the Thames. Andrea presented our annual Private...

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...

Fusion Gapital Invest USD2m in Rwandan Mining Company

Kenya-incorporated Fusion Capital Group have announced an investment of USD2m for a 46.5% stake in Rusororo Aggregate Limited, Rwanda’s ‘first fully commercial large aggregate mining firm’, the country’s only large scale stone-crushing firm, with sites are valued at RWF27bn (USD41.1m). Rusosoro aim to use Fusion Capital’s...

New Cowboy on the PE Block: FRG

There is a logical transition from military contracting to private equity, of sorts: Former Blackwater owner Erik Prince has left the security industry behind to set up a private equity firm, Frontier Resource Group (FRG) earlier in 2012. FRG is,...

Chinese PE Firm Cathay Fortune Bid USD848m for Botswana Copper Mine

Not strictly speaking an African PE deal, but interesting for China’s interest in one of the more old-school African investment targets – which is, of course, necessary to feed the country’s incessant demand for raw materials: Shanghai-incorporated private equity firm Cathay Fortune Corp (CFC) and the China Africa...

Citadel Eyes Ugandan Oil Refinery

Citadel Capital may be mulling a stake in Uganda’s first oil refinery, Reuters reports. The USD2.5bn project would be built in Hoima, 220km west of the capital Kampala just next to the Lake Albert basin where most of Uganda’s 3.5bn barrel reserves lie.   Uganda has been talking about building a refinery since the oil...

Training Wheels for Investors as China Reaches Overseas

Bloomberg reports that China’s foreign exchange regulator has warned Chinese investors to bear in mind basic international market rules such as return on investment, costs and cash flow as they move into other emerging markets such as Africa. The...

China Mining Fund Targets Africa

  State-owned private equity managers China Mining United Fund (CMUF) will launch a second fund for investment in African mineral assets, Bloomberg and Engineering News report. The vehicle is one of the first state-owned RMB PE funds to gain approval to invest abroad. It is CMUF’s second fund, and is expected to...

New Africa Mining Fund II to Invest Soon

  New Africa Mining Fund (NAMFI) II is set to make its first investment in the next two to three months, Mining Weekly reports. The USD120m fund is targeting 30-40% stakes in early stage exploration and development projects in gold, copper, iron-ore...

Pages