Saturday 19 April 2014

Atlas Mara Hire CEO, Agree Rwanda Deal with Former ADC Asset

After a slow start, Atlas Mara Co-Founder Bob Diamond is getting his groove on: The acquisition of fellow Africa bank investor BancABC/Africa Development Corporation (ADC) is under way. To beef up human resources, he has now hired former Barclays...

ADC and Atlas Mara Team up for Joint Bank Holding

When we first read about Atlas Mara’s investments plans, we thought ‘That looks a bit like ADC’s Africa bank holding plans. And here they are, merging into one: African Development Corporation (ADC) announced that their management and board have approved...

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,...

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....

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...

DEG Joins PE Funds in Chase Bank Kenya Investment

German development finance institution DEG has announced an investment of USD10m in Kenyan Chase Bank. This follows earlier investments of USD10.5m by French Amethis Finance and a USD5m investment by Swiss investment firm responsibility who mostly extend...

Abraaj Re-Enter Ghana’s Financial Sector with Mortgage Firm Acquisition

Abraaj Group have announced the acquisition of a majority stake in Ghana Home Loans, a residential mortgage provider founded in 2006. Abraaj say that Ghana Home Loans ‘has a primary focus on the Ghanaian residential home buyer, offering mortgages for...

AfriCap Exit Cameroon’s La Regionale

After a five-year holding period, AfriCap Microfinance Investment Company (AfriCap), a USD42m Mauritius-incorporated microfinance investment company, announced its exit of La Regionale d’Epargne et de Credit, a financial services company in Cameroon....

Leapfrog Raise USD204m for Second Fund

LeapFrog Investments, who focus on finance and insurance services for low-income demographics in emerging markets, have raised USD204m for their second fund, with a target of raising another USD200m over the coming months. With the second fund, LeapFrog...

Ethos to Exit Alexander Forbes

After a six-year holding period, South African private equity firm Ethos Private Equity is preparing to sell its stake in pension fund manager Alexander Forbes, according to Bloomberg. As South Africa’s oldest buyout firm, Ethos have a proven track...

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