Saturday 04 July 2015

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...

Leapfrog Invest in Mauritius Mobile Tech Firm

LeapFrog Investments have acquired a minority stake in AFB Mauritius Ltd. The USD25m investment was made through their second, USD400m fund and is the second one in sub Saharan Africa (the fund also invests in Asia). Technology firm AFB provide mobile...

Amethis Finance Acquire 17% Stake in CIEL Finance

Amethis Finance are keeping busy, and have gone back to the financial sector with their latest, and very interesting, investment: The fund manager announced the acquisition of a 17% stake in Mauritius-incorporated CIEL Finance which in turns holds the...

Centum, Others Increase Shareholding in Kenya’s K-REP Bank

Triodos Bank, through their Triodos Sustainable Finance Foundation subsidiary, have sold their 14.5% stake in Kenyan K-REP Bank to existing shareholders Centum Investment Company Ltd, and K-REP Group for an undisclosed amount. Centum now own a controlling...

AXA Acquires Assur Africa Holdings from PE Funds and DFIs

Private equity firms DPI and AfricInvest and their co-investor DFIs DEG, FMO and PROPARCO have sold Assur Africa Holding (AHA) to global insurance and asset management group AXA Group for EUR198m. AHA holds a 77% stake in Nigerian Mansard Insurance Plc....

Pages