Monday 03 August 2015

Carlyle Acquire 18% Stake in Nigerian Bank

Global private equity firm Carlyle Group will invest USD147m for an 18% stake in Nigerian Diamond Bank Plc, subject to regulatory approval. This acquisition will be made through the bank’s USD300 rights issue. According to the FT, Carlyle ‘said it was...

LeapFrog Joins USD38.4m Founding Round for BIMA Microinsurance

Financial services impact investor LeapFrog Investments have teamed up with other existing investors to raise another USD38.4m for BIMA. BIMA works in emerging markets in Asia, sub Saharan Africa (Ghana, Tanzania, Senegal, Uganda) and now also Latin...

ECP Complete NSIA Exit to Amethis and National Bank of Canada

First announced in March 2015, ECP’s exist from West and Central African banking group Nouvelle Societé Interafricaine d’Assurance Participations SA (NSIA) to Amethis Finance and National Bank of Canada has been completed. For National Bank, this is the...

Abraaj Complete UAP Exit to Old Mutual

Emerging markets investor Abraaj Group have completed their exit of Kenyan UAP Holdings Ltd by selling the 13.6% stake to international insurance group Old Mutual. In 2015, Abraaj and their co-investors AfricInvest and Swedfund had agreed to sell their 37...

Atlas Mara Exit Zimbabwean Brainworks

Financial services investor Atlas Mara have sold their 10.1% stake in Zimbabwean investment and advisory firm Brainworks Capital Management for USD8.72m, consisting of USD3.1m in cash and 665,195 Atlas Mara ordinary shares. This is 1.4 times Brainworks’...

Atlas Mara to Acquire Second Rwandan Bank

The East African reports that bank investor Atlas Mara are in the process of acquiring a 90% majority stake in a second bank in Rwanda, the Banque Populaire du Rwanda (BPR). Atlas Mara have not made any official announcement, but the planned...

Bamboo Finance Announce First USD31m Close for Second Financial Inclusion Fund

Impact investors Bamboo Finance have announced the first, USD31m close in their second financial inclusion fund, Bamboo Financial Inclusion II. Amongst the LPs backing the fund are the Teachers Insurance and Annuity Association of America (TIAA-CREF) and...

ECP Exit NSIA Participations to Amethis and National Bank of Canada

Amethis Finance and National Bank of Canada, an integrated financial services group, have announced the acquisition of ECP’s 26.24% stake (through their Africa Fund III PCC) in Cote d’Ivoire’s NSIA Participations. Amethis will acquire 5.4% of the overall...

Enko Capital Managers Make First Investment in Zambian Madison Financial Services

Enko Capital Managers (ECM) have announced the acquisition of a minority stake in Madison Financial Services PLC, an insurance based financial services group in Zambia, for an undisclosed amount. The investment was made through the USD48.25m Enko Africa...

8 Miles Co-Invest in Ugandan Bank

8 Miles have joined a consortium of local investors to buy Bank PHB, formerly Orient Bank, from the current Nigerian owners. The consortium includes the original founders of Orient Bank who lead the consortium as well as Chinese business man who is a...

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