Thursday 30 October 2014

LeapFrog Exit East African Apollo to Swiss Re

LeapFrog investments have sold their minority stake in East African insurance firm Apollo Investments Ltd to Swiss Re Direct Investments Company Ltd, a subsidiary of Swiss Re Group. Apollo own APA Insurance, formed in 2003 as the merger of Apollo’s...

Ethos, Actis Exit Alexander Forbes Through JSE Listing

Emerging markets investor Actis have sold a 9% stake, the bulk of their 13% stake, in financial services group Alexander Forbes Group Holdings Ltd in an oversubscribed listing on the Johannesburg Stock Exchange (JSE). Alongside fellow private equity...

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...

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...

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...

Actis Establish Credit Services Holding, Acquire CompuScan

With the establishment of Credit Services Holdings (CSH), emerging markets investor Actis, have also announced the acquisition of CompuScan, the largest independent credit reference bureau in sub Saharan Africa. CompuScan offer credit data, decision...

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....

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