March Industry News

01 Mar 2022

A collection of news across the African private equity and venture capital industry |

BluePeak’s Inaugural Fund qualifies to contribute to 2X global gender finance challenge

BluePeak’s 2X Challenge status demonstrates the firm’s commitment to gender-lens investing in Africa by advancing women’s economic empowerment and encouraging gender equality both directly and via its portfolio companies.

Source: BluePeak PC

 

Call for concepts: USAID Partnership Opportunity (Digital Connectivity)

New USAID Partnership Opportunity: Digital Invest is a new USAID blended finance program under the Digital Connectivity and Cybersecurity Partnership (DCCP) which works with fund managers to mobilize private capital for digital finance and internet service providers (ISPs) serving traditionally underserved consumer populations in developing markets. Digital Invest provides technical assistance, fund capitalization support, and direct portfolio engagement to help financiers support earlier stage, higher risk projects and startups with clear development impact. Financiers seeking to partner with USAID can learn more from the open call for concepts, with additional questions directed to the Digital Invest team at digitalinvest@usaid.gov.

 

Source: Digital Invest

 

Avanz Capital Egypt establishes investment holding company

Avanz Capital Egypt announced the establishment of Avanz Manara, an investment holding company. Avanz Manara supports the growth of small and medium enterprises (SMEs) in Egypt and is designed to help Egyptian banks meet the Central Bank of Egypt’s requirement to provide financing to Egyptian SMEs. 

Source: Africa PE News

 

Katapult, 216 Capital, Launch Africa in smart energy deal

Tunisian smart energy company Wattnow has closed a $1.3 million pre-series A investment round from investors including the Norwegian climate impact fund Katapult; 216 Capital; Launch Africa; Oman Technology Fund and CrossBoundary.

Source: Africa PE News

 

Tiger Brands VC fund invests in South African plant-based food company

Tiger Brands’ Venture Capital Fund has made its first investment in Herbivore Earthfoods, a Cape Town headquartered woman-founded business specialising in the manufacture and sale of plant-based and vegan products, a global market forecast to grow to over $162-billion by 2030. The African plant protein market, of which South Africa represents 57%, is estimated to grow at a compound annual growth rate (CAGR) of 6.5% to $560.62 million by 2023.

Source: Africa PE News

 

Competition Commission prohibits sale of Ethos-backed Neopak to Corruseal

South Africa’s Competition Commission has prohibited the proposed merger whereby Corruseal Group intends to acquire Neopak because the merger is likely to result in substantial prevention and lessening of competition.

Source: Africa PE News

 

Catalyst launches Egypt-focused impact fund

Catalyst Private Equity, a private equity fund manager focused on Egypt, has launched an impact investing fund called Catalyst Capital Egypt Fund (CCE). The fund has a target size of EGP1 billion ($54.6 million). The fund has achieved a first close of EGP450 million (about $24.6 million).

 

Source: Africa PE News

 

A.P. Moller Capital has acquired Thika Power, an 87 MW independent power producer located in the Kenyan capital Nairobi

A.P. Moller Capital has acquired Thika Power, an 87 MW independent power producer located in the Kenyan capital Nairobi.

Source: A.P. Moller Capital

 

Mozambique: Norfund, Zebu acquire a stake in frozen food importer Terramar

Norwegian Investment Fund for developing countries (Norfund) and private equity fund Zebu Investment Partners jointly invested in Terramar, a Mozambican company engaged in the importation and distribution of frozen foods and consumer products.

Source: Eco Fin Agency

  

Françoise Lombard appointed Chief Executive Officer of Proparco

Françoise Lombard was appointed Chief Executive Officer of Proparco by the Board of Directors on 25 March 2022. She joined Agence française de développement Group in 2016 as Chief Financial Officer and became a member of the Executive Committee on 1 January 2018.

 

Source: Proparco Groupe AFD

 

Proparco, IFC, African and European Partners launch alliance to support private sector growth in Africa

To support a stronger private sector, entrepreneurship and the growth of small and medium-sized businesses across Africa, African, European, multilateral and bilateral partners today launched the Alliance for Entrepreneurship in Africa (AforE).

Source: Proparco Groupe AFD

 

Biovac and Development Partners Collaborate to Support South Africa’s Vaccine Manufacturing Expansion and Advance Long-Term Health Security Across Africa

To support South Africa and the African continent increase vaccine manufacturing capacity and reduce reliance on imports, a consortium of nine development and finance institutions have today announced a partnership with Biovac in Cape Town, South Africa to support Biovac’s vaccine manufacturing expansion.

Source: AfDB

 

 

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