Sunday 11 December 2016

DFIs Norfund, FMO Team up with Rabobank for ‘Arise’ Bank Holding

DFIs FMO and Norfund have teamed up with Rabobank to pool their stakes in several financial services providers in sub Saharan Africa. The new entity, ‘Arise’, will be operational from 1 January 2017 and will begin with a footprint across 20...

Carlyle to Team up With Atlas Mara for Barclays Acquisition?

The Financial Times reports that Atlas Mara, the bank PE fund led by ex-Barclays CEO Bob Diamond, is in talks with PE fund manager Carlyle to jointly bid for Barclays Bank’s Africa operations. Atlas Mara had been rumoured to be eyeing Barclays,...

Equator Capital Partners, Progression Capital Invest in Kenyan Jamii Bora Bank

Equator Capital, via their ShoreCap II fund, and Progression Capital, via their Progression Eastern African Microfinance Equity Fund, have announced an investment in Kenyan Jamii Bora Bank. Jamii Bora has its origins in the social sector, having been...

Kiva-Founder Raises USD9.2m for East Africa Mobile Loan Service

VC firm Andreessen Horowitz have teamed up with Khosla Impact and Formation 8 to provide USD9.2m in Series A funding for Branch, the digital banking start up founded by Kiva co-founder Matt Flannery. Previously, Branch had raised USD1.6m from Khosla and...

Duet Acquires Stake in Kenyan Fidelity Bank

British investment firm Duet Group will invest a reported USD18.6m for an undisclosed stake in Kenya’s Fidelity Bank. is paying approximately $18.6 million for an undisclosed stake in Kenya’s Fidelity Bank, helping to raise the banks’ capital base to an...

Kuramo Capital to Invest USD20m in Kenyan TransCentury

US-headquartered investment manager Kuramo Capital will acquire an undisclosed stake in ailing Kenyan investment firm TransCentury for USD20m. This comes just days before the 25 March deadline when TransCentury is due to repay a USD75m, five-year bond....

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...

LeapFrog and Prudential Launch USD350m Investment Partnership

Global insurance firm Prudential and impact investor LeapFrog Investments have broadened their existing relationship by announcing a USD350m investment partnership. LeapFrog have built a track record in successful financial services and fin tech...

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...

OPIC Backs LeapFrog Investments with USD200m

The US Overseas Private Investment Corporation (OPIC) will commit USD200m to LeapFrog Investments for their financial services and healthcare investments, reportedly the ‘the largest commitment in history to any impact fund manager’. This brings financial...

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