Member News
19 November 2024
Sahel Capital provides US$610k term & working capital loan to Oyster Agribusiness
Sahel Capital, a prominent investment advisor in the food and agriculture sector in sub-Sahara Africa, has successfully advised Social Enterprise Fund for Agriculture in Africa (SEFAA) in the approval of a c.US$610K term loan and working capital loan. SEFAA aims to stimulate economic activities among smallholder farmers by empowering the social enterprises that engage with them.
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Member News
12 November 2024
Sanari Capital announces R87.5mn investment in Energenic Holdings
Marks first investment into sustainable energy solutions offering energy security across the African continent for technology access and economic growth.
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Member News
7 November 2024
Sahel Capital provides US$1mn term & working capital loan to Sukuma Commodities
Sahel Capital, a prominent investor in the food and agriculture sector in sub-Sahara Africa, has successfully approved a US$1,000,000 term and working capital loan from its Social Enterprise Fund for Agriculture in Africa (SEFAA) facility.
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Member News
30 October 2024
Janngo Capital reaches final close of its second fund at US$78 million
Pan-African venture capital firm Janngo Capital announces the final closing of its second fund at $78 million, 20% beyond its initial target.
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Member News
29 October 2024
DPI, Lightrock and Verod back Moniepoint in US$110 million Investment
Moniepoint Inc., Africa’s fastest-growing fintech, has successfully raised US$110 million in equity financing, to power the dreams of millions of businesses and their customers across Africa and the diaspora.
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Member News
28 October 2024
500 Global promotes Mareme Dieng to partner
October 28, 2024, Nairobi, Kenya– 500 Global, one of the world’s most active venture capital firms, proudly announced the promotion of Mareme Dieng, based in Nairobi, Kenya, to Partner for their Africa regional strategy.
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Member News
25 October 2024
Sahel Capital provides CapEx loan to Geneplus Global
Sahel Capital, a prominent investor in the food and agriculture sector in sub-Saharan Africa, has successfully approved a US$500,000 CAPEX loan from its Social Enterprise Fund for Agriculture in Africa (SEFAA) facility. Launched in 2021 with KfW as the anchor investor, SEFAA aims to stimulate economic activities among smallholder farmers by empowering the social enterprises that engage with them.
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Member News
21 October 2024
Amethis and Globex acquire a leading Moroccan transport company
Since 2022, Amethis has been a partner of Globex, a company operating in express courier, freight, transit, and storage solutions in Morocco and sub-Saharan Africa (Senegal and Cameroon), under the FedEx Express brand. In more than 20 years of existence, the group has established itself as a reference player in the field of express parcel shipping, freight, and transit, offering its customers competitive and guaranteed delivery times to/from more than 220 countries thanks to the vast network of FedEx World from which it benefits. In October 2024, Globex completed the acquisition of Logic Transport, a leading player in the transport and logistics sector in Morocco.
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Member News
16 October 2024
Africinvest and Proparco finance Lapaire Glasses SA
AfricInvest and Proparco together approved financing for Lapaire Glasses SA, an optical retail chain offering quality eyewear at a fair price in West and East Africa (Ivory Coast, Benin, Togo, Mali, Burkina Faso, and Uganda). USD 2.5M in financing will be made available from AfricInvest and EUR 450k from Proparco, through its Bridge by Digital Africa facility, to support the improvement of optical care coverage on a continent where the WHO estimates that 80% of visually impaired people do not receive proper care. AfricInvest and Proparco’s financing will enable Lapaire to improve its territorial coverage in the countries where it currently operates while ensuring the expansion of its network in Senegal, the D.R. of Congo, and Tanzania.
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Member News
15 October 2024
Africa50 leads US$42mn investment in BasiGo
Nairobi, Kenya - 23 October 2024 - Africa50, the pan-African infrastructure investor and asset manager, has led a new US$42 million funding round for BasiGo, a provider of sustainable e-mobility solutions in sub-Saharan Africa.
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Member News
11 October 2024
The EuroMena Funds announces the successful exit of two portfolio companies
The EuroMena Funds operate in the Levant, Middle East and Africa, regions marked by instability, economic crises, and geopolitical tension. Our HQ in Beirut faces daily challenges: Bombings, missile strikes, economic devastation and political unrest are our daily reality. Yet, it’s in these unforgiving environments that we manage to succeed.
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Member News
8 October 2024
Renew Capital backs ChipChip
Addis Ababa, Ethiopia, October 8, 2024 - ChipChip, an innovative e-commerce platform bringing consumers and suppliers together through group buying, has secured investment from Renew Capital as lead investor as well as other international co-investors. Since its launch, ChipChip has been changing how consumers purchase fresh produce and fast-moving consumer goods (FMCG) by enabling them to unlock bulk prices through collective purchasing.
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Member News
8 October 2024
Adenia Partners expands into Egypt
BEAU PLAN, Mauritius, October 8, 2024 – Adenia Partners (“Adenia”), a leading private equity firm focused on growth opportunities in Africa, has extended its presence in North Africa by establishing on-the-ground representation for the firm in Egypt. The location is Adenia’s eighth on the continent, reflecting its deep commitment to responsible investing and a sustainable Africa.
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Member News
8 October 2024
FMO invests US$25mn in the SANAD debt sub-fund
FMO invested USD 25mln in the SANAD Debt Sub-Fund for MSME to support small businesses in the Middle East and North Africa (MENA).
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Member News
7 October 2024
Metier invests in maize meal producer
Metier Capital Growth Fund III invests in one of the largest independent maize millers in South Africa
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Member News
7 October 2024
TLG Capital announces the first close of N10.4bn of their private debt fund
TLG Capital is very excited to announce the first close of N10.4 billion in Series 1 of their N100 billion private debt fund, the first in Nigeria's financial history. This marks the first-ever local currency private debt fund in the country with 17 investors subscribing across the Nigeria ecosystem and attracting some of the best known Pension Fund Administrators in the country.
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Member News
4 October 2024
IFC, CDG Invest Growth et al. announce an investment in Retail Holding
Rabat, Morocco, October 4, 2024 – To boost access to affordable, high-quality food products in Morocco and Côte d’Ivoire, IFC, Fipar Holding, and CDG Invest Growth today announced an investment in Retail Holding, a leading Moroccan-based food and consumer goods retailer.
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Member News
3 October 2024
AfricInvest reaches Transform Health Fund final close
NAIROBI, October 3, 2024 – AfricInvest and The Health Finance Coalition (HFC) today announced the final close of the pan-African Transform Health Fund (THF), an innovative blended-finance fund that aims to bolster healthcare systems in Africa by scaling proven and innovative healthcare models across the continent.
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Member News
3 October 2024
IFC backs early-stage fund manager
Nairobi, Kenya, October 3, 2024 - IFC today announced an investment in Equator Africa Fund I, marking its first-ever investment in a venture capital fund entirely focused on supporting businesses and innovation in the climate sector.
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Member News
2 October 2024
FEDA and AFC power ARISE IIP’s US$443mn capital raise
Dubai, 02 October 2024 — ARISE IIP, a leading pan-African developer and operator of world-class industrial parks, has announced a significant capital raise of US$443 million.
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Member News
2 October 2024
Winich Farms secures US$3mn in Pre-Series A funding, backed by Climate Resilient Africa Fund, Sahel Capital and Acumen Resilient Agriculture Fund
Winich Farms, a Nigerian Agtech startup making the supply chain of farm produce seamless for all stakeholders, has secured $3 million in pre-series A funding to enhance its technology and optimize its operations. The round is a mix of equity and debt.
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Member News
1 October 2024
DPI exits biopharmaceuticals platform
Development Partners International (DPI) Partners International is pleased to announce the close of its exit from KELIX bio. The transaction is one of the largest private equity exits and M&A deals in Africa’s pharmaceutical sector over the past twenty years.
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Member News
1 October 2024
Injaro’s Cape Verdean subsidiary invests in poultry business
Accra, October 01st , 2024 – Investment Capital Partners (“ICP”), a subsidiary of Injaro Investments (“Injaro”), is pleased to announce the successful completion of another investment transaction. This marks its second investment in Cabo Verde, through the Pro Impacto Fund. The investment was made in AGRA, Lda, (“AGRA”), a producer of poultry and animal feed which was founded in 2019, by a local entrepreneur with extensive industry experience and an ambitious vision of becoming the leading provider of fresh egg and animal feed in the country.
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Member News
29 September 2024
Sahel Capital provides US$1mn term and working capital loan to Apple Orchards through SEFAA
Sahel Capital, a prominent investor in the food and agriculture sector in sub-Sahara Africa, has successfully approved a US$1,000,000 term and working capital loan from its Social Enterprise Fund for Agriculture in Africa (SEFAA) facility. Launched in 2021 with KfW as the anchor investor, SEFAA aims to stimulate economic activities among smallholder farmers by empowering the social enterprises that engage with them.
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Member News
25 September 2024
African Infrastructure Investment Managers invests in CCH Greenbushes
African Infrastructure Investment Managers (AIIM), a division of Old Mutual Alternative Investments, has made a significant move to bolster South Africa’s cold chain infrastructure through the commissioning of CCH Greenbushes, a commercial cold storage facility which has been built in Gqeberha, Eastern Cape.
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Member News
24 September 2024
Helios leads US$100mn Series D funding in M2P Fintech
Helios is delighted to announce it has led a $100m Series D Funding round in M2P Fintech, the fast growing BaaS and infrastructure API provider catering to the banking, fintech and non-financial services sectors, to support its expansion across Africa. M2P will join Helios’ strong financial services and fintech portfolio.
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Member News
24 September 2024
Renew Capital invests in Chpter
Nairobi, Kenya, SEPTEMBER 24, 2024 — Renew Capital has invested in Chpter, an AI-powered conversational commerce platform that enables businesses to sell more on social media platforms such as WhatsApp and Instagram.
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Member News
24 September 2024
AXIAN acquires a stake in WiASSUR
The pan-African AXIAN Group – through its subsidiary AXIAN Investment – a leading supporter of African start-ups, has announced the acquisition of a stake in WiASSUR, an innovative insurance start-up based in Côte d'Ivoire. This marks a key milestone for AXIAN Group's expansion strategy in this sector.
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Member News
17 September 2024
FSD Africa invests in Holocene Ventures Fund
FSD Africa’s Early-Stage Finance Pillar is investing US$150,000 in Holocene Ventures Fund (HVF), a climate tech start-up venture capital provider that seeks to raise an initial US$2 million to invest in 12 high-impact climate businesses. HVF I will provide the track record and pipeline to raise a $30M pre-seed to series A climate tech fund in 2025. The investment by FSD Africa comes alongside investments from other angel investors across Europe, USA and Africa.
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Member News
17 September 2024
Fund for Export Development in Africa (FEDA) announces strategic investment in Team Drogba
Kigali, 17 September 2024: The Fund for Export Development in Africa (FEDA), the development impact investment arm of African Export-Import Bank (Afreximbank), is pleased to announce a strategic investment in Team Drogba, competing in the inaugural E1 Series, the world’s first-ever all-electric boat racing championship. This investment aligns with Afreximbank’s Creative Africa Nexus (CANEX) strategy, which includes sports as a key vertical for advancing Africa’s economic and cultural footprint.
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Member News
16 September 2024
Metier invests in global leader in telecommunications cable recovery and recycling, Mertech Marine
Metier Sustainable Capital Fund II invests in world leader in telecommunications cable recovery and recycling business
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Member News
10 September 2024
Novastar Ventures welcomes Doreen Nabaho as head of sustainability
September 10, 2024 (London): Novastar Ventures, one of the first and largest VC investors in Africa, today announces the appointment of Dr. Doreen Nabaho as Head of Sustainability
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Member News
8 September 2024
BII, EBRD, TCV, et al. to acquire Tamweely, Egypt's leading microfinance company
A consortium of investors comprising SPE PEF III (SPE Capital), the European Bank for Reconstruction and Development (EBRD), Tanmiya Capital Ventures (TCV) and British International Investment (BII) has signed definitive agreements to acquire Tamweely Microfinance S.A.E (Tamweely), the leading non-banking financial services company in Egypt specializing in serving micro, small and medium enterprises (MSMEs), from its current shareholders: Ayady for Investment & Development S.A.E, NI Capital Holding for Financial Investments S.A.E , and Post for Investment Company S.A.E.
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Member News
3 September 2024
Verdant IMAP advises DEKRA SE on the sale of South Africa's largest independent vehicle testing group, DEKRA Automotive
Verdant IMAP has advised Germany-based DEKRA SE on the sale of DEKRA Automotive (“DEKRA”), the largest independent vehicle testing group in South Africa.
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Member News
3 September 2024
IFC, Proparco, DEG, and DFC back Aspen in strengthening Africa's pharmaceutical sector
Johannesburg, South Africa, September 3, 2024 – To support the production and distribution of life-saving medicines and vaccines in Africa, IFC; Proparco; the German Development Finance Institution (DEG); and the U.S. International Development Finance Corporation (DFC), today announced a joint financing package for Aspen Pharmacare Holdings Limited (Aspen).
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Member News
2 September 2024
Amethis announces the promotion of Frank-Astère Ndiyo Butoyi to investment partner
We are pleased to announce the promotion of Frank-Astère Ndiyo Butoyi to the position of Partner at Amethis. This recognition underscores Frank’s significant contributions and dedication to our firm’s growth, particularly in the East African region.
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Member News
1 September 2024
DEG publishes its Development Report 2023
The Impact Report measures DEG's impact and achievements and its contributions to the United Nations Sustainable Development Goals.
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Member News
1 September 2024
Adenia Partners publishes 2023 Climate Action and ESG & Impact Reports
Since 2002, Adenia Partners has been making value-based investments in promising African companies and takes responsibility for guiding them to sustainable growth.
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Member News
1 September 2024
Aruwa Capital Management publishes its 2023 Impact Report
Fuelling Africa's gender-diverse future – In this 2023 Impact Report, Aruwa highlights sustainable growth achieved through strategic initiatives and investments.
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Member News
29 August 2024
Verod publishes its 2023 Impact Report
The digital-only report highlights Verod's collaborative efforts with partners to drive positive change and showcase the significant milestones achieved in 2023.
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Member News
29 August 2024
Angolan Sovereign Wealth Fund (FSDEA) commits investment to BFA Asset Management’s Kimbo Fund
On 29th of August 2024, the Angola Sovereign Wealth Fund (FSDEA) formalised its entry into the Kimbo Fund, Angola’s debut private debt fund managed by BFA Asset Management (BFAAM), with an equity investment of USD 5 million. This investment will allow BFAAM’s Kimbo Fund to invest in businesses with high growth potential that generate income and are tackling key challenges in the local market aligned with the national economic diversification programme, including downstream agribusiness and logistics.
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Member News
27 August 2024
Norfund & FMO platform invests in Omnisient
The USD 7.5 million ‘Series A’ investment will support data privacy and collaboration platform Omnisient’s mission to grow financial inclusion across Africa and beyond.
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Member News
15 August 2024
Climate Resilient Africa Fund invests in Sea Gardener
CRAF has invested in Sea Gardener Inc., a company that taps into a $1 billion opportunity, re-imagining shellfish export from North Africa to the world
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Member News
13 August 2024
Oikocredit invests to reduce global financing gap for smallholders
Social impact investor Oikocredit and the IDH Farmfit Fund have announced a partnership aimed at reducing the global financing gap for smallholder farmers. The two organisations have signed a collaboration agreement, committing to creating synergies in their sourcing and investment transactions. By aligning their approach and intensifying their collaboration, the Farmfit Fund and Oikocredit will create efficiencies that accelerate impact for smallholder farmers.
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Member News
12 August 2024
AfDB Sustainable Energy Fund for Africa invests US$10mn to KawiSafi II clean-energy Fund
The Board of Directors of the African Development Bank Group has approved a $10 million junior equity investment in the KawiSafi II Fund to help local businesses create and expand climate projects that aid vulnerable communities. The approved financing will be deployed from the Sustainable Energy Fund for Africa (SEFA), a catalytic financing facility managed by the Bank Group. 
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Member News
7 August 2024
Adenia exits leading African payment system provider
Adenia, a leading private equity firm focused on growth opportunities in Africa, has finalized the sale of its 100% equity stake in OMOA Group (“OMOA”) to SPE Capital, a private equity firm focused on the Middle East and Africa. Founded in 1999, OMOA is the leading integrated service provider for the payments industry in West and Central Francophone Africa. The sale of OMOA is the eighth and final exit from Adenia’s €96 million fund Adenia Capital (III), which is now fully liquidated.
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Member News
6 August 2024
African Infrastructure Investment Managers (AIIM) reach final close for African Infrastructure Investment Fund 4
African Infrastructure Investment Managers (AIIM) closes African Infrastructure Investment Fund 4 (AIIF4) at hard cap with USD748m in commitments plus an additional USD206m in co-investments, for a total of USD954m
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Member News
1 August 2024
British International Investment co-leads US$200mn investment in Helios CLEAR Fund 
Catalytic backing from the United Kingdom has enabled the Helios Climate, Energy Access, and Resilience (CLEAR) Fund to raise approximately $200 million in its first close for investment in African businesses focused on climate mitigation and adaptation. The Fund, managed by Helios Investment Partners, intends to become the largest Africa-focused climate fund with a target size of $400 million.
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Member News
1 August 2024
Proparco invests €20mn in Amethis Fund III to support African medium-sized enterprises
Proparco and Amethis continue their long-standing collaboration in support of the African private sector. This new investment by Proparco in the Amethis Fund III ("AF III") aims to support African medium-sized companies that provide quality goods and services on the continent.
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Member News
31 July 2024
Old Mutual Alternative Investments invests to strengthen South Africa's food security
Adiwale Fund I and Investisseurs & Partenaires (I&P), through its fund IPAE 2, announced the acquisition of a majority stake in VRS Africa. The company offers operational car leasing and fleet management services for corporate clients.
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Member News
29 July 2024
Swedfund invests US$10mn to support SMEs in Africa
Swedfund, Sweden’s development finance institution, has invested USD 10 million in Inside Equity Fund II, aiming to support small and medium-sized enterprises (SMEs) with impactful and innovative solutions in Zambia, Madagascar, Mauritius, Tanzania, Malawi and Mozambique.
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Member News
23 July 2024
Adenia Partners invests in pan-African growth with acquisition of Air Liquide subsidiaries
Adenia Partners “Adenia” has completed the acquisition of Air Liquide's operations in 12 African countries, giving birth to Erium, the first pan-African leader in industrial and medical gases.
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Member News
22 July 2024
Kuramo Capital Management to lead US$1bln Nigeria Wholesale Impact Investment Fund
Impact Investors Foundation (IIF) is proud to announce the appointment of Kuramo Capital Management as the official fund manager for the Nigeria Wholesale Impact Investment Fund (WIIF). This strategic partnership marks a significant milestone in Nigeria's journey towards sustainable development and impactful investment.
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Member News
21 July 2024
Sango Capital acquires majority stake in Synergy Private Equity Fund
Sango Capital has acquired a majority of the Limited Partner (“LP”) interests in Synergy Private Equity L.P. (“the Fund”). Synergy Managers (Mauritius) Limited will continue as the General Partner (“GP”) of the Fund, whilst Sango will support the GP in value creation- and liquidity initiatives.
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Member News
19 July 2024
Metier reaches final close for Metier Capital Growth Fund III
Metier announced the final close for Metier Capital Growth Fund III on Friday 19 July 2024, raising over $219 million exceeding its targeted fund size of $200 million. “We are pleased with the support shown by our investors to Metier and for this result given the tough fundraising climate the African private equity industry is experiencing”, said Paul Botha, CEO and Co-founder of Metier.
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Member News
18 July 2024
Kasada exits Ibis Douala to Christina Hotel
Kasada, the leading independent real estate private equity platform dedicated to delivering attractive sustainable value across the hospitality sector in Africa, announces the sale of the Ibis Douala located in Bonanjo, a key business district of the city of Douala, in Cameroon to Christina Hotel, part of the Bocom Group.
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Member News
18 July 2024
Aruwa Capital invests in hibiscus processing to support women farmers
Aruwa Capital Management (“Aruwa”), an early-stage growth equity and gender lens fund investing in Nigeria and Ghana, is pleased to announce an additional investment into AgroEknor International (“AgroEknor”or the “Company”), a fast-growing hibiscus flower exporter and wellness brand.
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Member News
16 July 2024
FMO leads US$295mn loan facility for Access Bank
Metier announced the final close for Metier Capital Growth Fund III on Friday 19 July 2024, raising over $219 million exceeding its targeted fund size of $200 million. “We are pleased with the support shown by our investors to Metier and for this result given the tough fundraising climate the African private equity industry is experiencing”, said Paul Botha, CEO and Co-founder of Metier.
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Member News
15 July 2024
EQ2 Ventures co-leads $1.4mn seed round for Kenyan personalizsd skincare expansion
EQ2 Ventures is at the forefront of a significant investment in the beauty sector, leading a $1.4 million seed funding round for Uncover, a Kenyan innovator in personalised skincare. This strategic funding will fuel Uncover's expansion into the United States, Ghana, and Uganda, underscoring EQ2 Ventures' commitment to supporting groundbreaking African startups with global ambitions.
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Member News
11 July 2024
IFC co-leads US$40mn facility for women-led SMEs in Côte d'Ivoire and Senegal
To boost access to financing for small businesses in Côte d'Ivoire and Senegal, particularly those owned and led by women, IFC today announced a Risk-Sharing Facility (RSF) for a total amount of up to $40 million equivalent in West African CFA with Bridge Bank Group Côte d'Ivoire (BBGCI).
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Member News
10 July 2024
BII invests $20mn to reduce Africa's remittance costs 
Remittance costs for Africa are the highest globally. Reducing remittance costs is critical to increasing capital flow into Africa and building financial resilience. BII’s investment will support an increased volume of remittance transactions into Africa, by pre-funding over $1 billion worth of transactions per year.
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Member News
10 July 2024
Sanari Capital invests R80mn to expand affordable quality education in South Africa
Sanari Capital, a private equity firm that invests in medium-sized and mid-market growth companies emanating from Africa, has announced a R80 million follow-on investment in EduLife Group. The investment will allow EduLife Group to further entrench their schools in existing regions and expand into other provinces.
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Member News
10 July 2024
FMO invests US$10mln to support African enterprises
To further empower African enterprises, FMO announced that it will support its long-time partner, the Regional MSME Investment Fund for Sub-Saharan Africa (REGMIFA) through a USD 10 mln investment. FMO is putting in an extra USD 10 million into B-shares, showing its strong commitment since 2010. This new funding will help REGMIFA grow its portfolio across Sub-Saharan Africa, offering crucial financial support to micro, small, and medium-sized businesses, as well as low- and middle-income households through selected financial institutions.
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Member News
9 July 2024
Oasis Capital Ghana secures $33.3mn in first close of Oasis Africa Fund II
Oasis Capital Ghana, a leading growth capital fund manager focused on West Africa, today announced the successful first close of its US$100 million Oasis Africa Fund II (OAF II). The fund has secured US$33.3 million in capital commitments and expects to raise the remainder by the end of June 2025.
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Member News
4 July 2024
Swedfund invests €30mn in urban resilience fund  
Swedfund has invested EUR 30 million in The Urban Resilience Fund (TURF), managed by Meridiam, to address the pressing challenges of climate change and urbanisation in Africa, primarily in Sub-Saharan Africa.
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Member News
2 July 2024
Renew Capital invests in South African agricultural financing startup
Africa’s agricultural sector plays a significant role in the continent's economy, contributing about 35% to the GDP and supporting the livelihoods of nearly half of Africa's 1.4 billion population. Despite its immense potential, agriculture faces a funding gap hindering its growth. Pumpkn, a South African startup, is actively addressing this challenge by offering and facilitating financial support for agribusinesses.
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Member News
1 July 2024
IFC appoints Martine Valcin as Country Manager for Rwanda, Tanzania, and Uganda
IFC today announced the appointment of Martine Valcin as its new Country Manager for Rwanda, Tanzania and Uganda. With more than 25 years of experience in corporate and sustainable finance, ESG, and capital markets, Valcin will lead IFC's efforts in the three countries to drive private sector development and deliver sustainable and inclusive economic growth.
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Member News
1 July 2024
Convergence Partners acquires Datacentrix
On 17 January 2024, Datacentrix announced that Convergence Partners, through its Convergence Partners Digital Infrastructure Fund (“CPDIF”), alongside the existing Datacentrix management team, entered into a definitive agreement with Alviva Holdings (Pty) Ltd to acquire 100% of Datacentrix. The agreement was subject to the fulfilment of conditions and regulatory approval. Datacentrix is pleased to announce that all conditions precedent have been met. The Competition Commission and Independent Communications Authority of South Africa have unconditionally approved the transaction.
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Member News
1 July 2024
Inside Capital Partners achieves first close of US$55mn for its Inside Equity Fund II
Inside Capital Partners (“Inside”) is pleased to announce the successful first close of its second fund, Inside Equity Fund II (“IEF II”), with US$ 55 million in commitments.
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27 June 2024
Global Social Impact Investments secures €15mn for SMEs in Sub-Saharan Africa
Global Social Impact Investments SGIIC (GSI), an impact investment fund manager, today announced a 15 million euro investment from the Spanish Agency for International Development Cooperation (AECID). This investment aims to bolster GSI's strategy of investing in high-impact African companies. The funding is channeled through the Development Promotion Fund (FONPRODE), managed by AECID with advisory support from COFIDES, the Spanish Development Finance Institution (DFI), known for financing sustainable and developmental projects worldwide.
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25 June 2024
BII commits $75mn to boost MSME climate financing in Africa
British International Investment (BII), the UK’s development finance institution (DFI) and impact investor, has committed $75 million to the second Green Basket Bond arranged by Symbiotics Investments, a leading emerging markets access platform and financial lender. The green lending programme will increase financing to small-scale green projects across Africa, South and South-East Asia through MSME lenders, with a particular focus on India. It will support new MSME lenders not included in the first Green Basket Bond.
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18 June 2024
BII commits up to US$25m for Meridiam's Rift Valley Energy projects in Tanzania
British International Investment (BII), the UK's development finance institution (DFI) and impact investor, today signed an agreement to provide $15m with the potential to increase this to $25m, to renewable energy platform Rift Valley Energy (RVE), owned and managed by Meridiam. The funding will support part of RVE's ambitious investment and development plan for future renewable energy projects in Tanzania.
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Member News
13 June 2024
Oikocredit partners with AfricInvest Private Credit to boost SME Growth across Africa
Social impact investing cooperative Oikocredit has made a first-time loan of US$ 10 million (€ 9.3 million) to AfricInvest Private Credit (APC) to augment support for small and medium enterprises (SMEs) throughout Africa.
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Member News
12 June 2024
DPI announces exit from international facilities services
Development Partners International (“DPI”), a premier investment firm focused on Africa, today announces the sale of International Facilities Services (“IFS”). DPI has signed a binding agreement with a consortium comprising of ES-KO, a global provider of integrated facility support services, Phatisa, a Mauritius based private equity firm, and IFS’s management, to sell 100% of its shares in the company.
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Member News
11 June 2024
AIIM reaches final close on wind farm projects to power South African mining operations
African Infrastructure Investment Managers (AIIM), a division of Old Mutual Alternative Investments, has reached financial close on the 140MW Khangela and 140MW Umsinde Emoyeni wind farms to supply renewable energy to the operations of Rio Tinto’s Richards Bay Minerals (RBM)  and Sibanye Stillwater via wheeling agreements.
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11 June 2024
Renew Capital invests in African beauty industry innovator
Renew Capital is an Africa-focused impact investment firm that backs innovative companies with high-growth potential such as Zuri (myZuri.com), a tech-enabled beauty company that seeks to transform the African beauty industry with high-end, beauty products designed by Africans.
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11 June 2024
Admaius Capital Partners acquires leading certified reference materials manufacturer
Admaius Capital Partners (“Admaius”), an Africa focussed private equity investor operating across several growth markets, today announced the acquisition of The Particle Group (“TPG” or “the Company”), one of the world’s leading manufacturers of Certified Ref- erence Materials (“CRM”) for the metals and mining industries.
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11 June 2024
AfricInvest acquires stake in East African banking group from BII
AfricInvest, a leading Pan-African Asset Management platform, has acquired a 10.1 per cent stake in I&M Group PLC (‘I&M’), the Eastern African banking group, from British International Investment (‘BII'), the UK’s development finance institution and impact investor. The acquisition was made through East Africa Growth Holding, a special purpose vehicle entirely controlled and formed by AfricInvest.
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11 June 2024
British International Investment exits I&M Group with sale to AfricInvest
British International Investment (‘BII'), the UK’s development finance institution and impact investor, has sold its 10.1 per cent stake in I&M Group PLC (‘I&M’), the Eastern African banking group, to AfricInvest, a leading Pan-African Asset Management platform. The acquisition was made through East Africa Growth Holding, a special purpose vehicle entirely controlled and formed by AfricInvest.
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10 June 2024
IFC co-partners to expand access to quality healthcare in Africa
IFC and Lenmed Hospital Group (Lenmed) today announced a partnership to increase access to quality healthcare, especially in underserved communities, in South Africa, Botswana, Ghana, and Mozambique.
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3 June 2024
TLG co-launches Nigeria's first Naira-denominated Private Debt Fund
FCMB Asset Management Limited (FCMB AM) hosted key professional parties at Primrose Towers in Lagos, Nigeria to sign various transaction documents for the launch of Nigeria’s first Naira-denominated Private Debt Fund, FCMB-TLG Private Debt Fund.
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2 June 2024
Janngo Capital and FMO co-invest in Moroccan agritech startup
YoLa Fresh, a Moroccan agritech startup building a transparent and sustainable fresh food supply network, today announced it has secured a $7 million pre-Series A funding round. The round was led by Al Mada Ventures with participation from Algebra Ventures, E3 Capital, Janngo Capital, and FMO, the Dutch entrepreneurial development Bank.
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31 May 2024
P1 Ventures and Ventures Platform invest in Nigerian-based financial services company Brass
Nigeria-based financial services company Brass has been acquired by an investment group led by Paystack, with participation from PiggyVest, Ventures Platform, P1 Ventures, and angel investors Oo Nwoye and Olumide Soyombo.
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30 May 2024
Adenia Partners exits investment to Uhuru Investment Partners
Adenia Partners (“Adenia”), a leading private equity firm focused on growth opportunities in Africa has successfully exited its entire stake in Cresta Paints (the “Company”) to Uhuru Investment Partners, a middle-market private equity firm focused on investing in West Africa. Cresta Paints, headquartered in Ghana, is a leading player in the automotive refinish and protective coatings sector.
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29 May 2024
Janngo Capital leads €4.3mn investment in mobile marketing platform
Janngo Capital's involvement in LAfricaMobile's €4.3 million Series A fundraising round highlights its commitment to investing in companies that leverage technology to enhance communication and marketing capabilities for African businesses.
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29 May 2024
EIB Global invests €25mn in Amethis Fund III
The European Investment Bank’s EIB Global arm has invested €25 million in Amethis Fund III, a pan-African fund providing private equity growth capital to medium-sized companies on the continent.
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28 May 2024
BII invests US$30mn to support African telecom infrastructure expansion
BII is providing $30mn anchor commitment, alongside other anchor investors including IFC, DEG and the Emerging Africa Infrastructure Fund. The funding will help the independent telecom infrastructure company refinance its existing debt and support its business which serves more than 144 million people on the continent.
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22 May 2024
Injaro acquires stake in leading Ghanaian out-of-home advertising firm
Injaro Investment Advisors, a Ghanaian private capital fund manager, is delighted to announce the acquisition by its fund, Injaro Ghana Venture Capital Fund (IGVCF) of Outdoor Holding Limited (OHL), which controls a majority stake in DDP Outdoor Ltd (‘DDP’). Financial terms of the transaction were not disclosed.
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21 May 2024
Admaius Capital Partners invests in Senegalese medical school
Admaius Capital Partners (“Admaius”), an Africa-focused private equity investor, today announced the acquisition of 100% of St. Christopher Iba Mar Diop College of Medicine. The medical school, widely-known as ‘St. Christopher’, was founded in 2003 and is based in Dakar, Senegal.
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20 May 2024
IFC invests US$45mn to expand Tanzanian glass manufacturer
IFC is supporting the expansion of Tanzanian glass manufacturer Kioo to meet increasing domestic and regional demand for glass bottles and containers, the two entities announced today. The project will create thousands of jobs and contribute to economic growth in Tanzania.
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17 May 2024
IFC co-invests US$210mn to expand biofuel production in Kenya
IFC and the Italian Climate Fund today announced a $210 million investment in Eni S.p.A.'s Kenya subsidiary to expand the production and processing of advanced biofuels, supporting the decarbonization of the global transport industry and the livelihoods of up to 200,000 small-scale Kenyan oilseed farmers.
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15 May 2024
Alterra Capital leads acquisition of chill beverages with AAA Fund
Alterra Capital Partners has partnered with Mineworkers Investment Company (“MIC”) and Admaius Capital Partners, together the (“Alterra Consortium”), to acquire a majority stake in Chill Beverages (“Chill”) from Old Mutual Private Equity. This acquisition marks the first investment by Alterra’s Africa Accelerator Fund (“AAA Fund”) and demonstrates the Alterra Consortium’s commitment to support African companies in their growth journeys.
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14 May 2024
IFC invests US$150mn in economic development projects across Africa
IFC announced a $150 million commitment to four investment and advisory projects that will support economic development in Egypt and other parts of Africa in key sectors including healthcare, trade, and finance.
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11 May 2024
XSML achieves first close of US$98.7mn for its African Rivers Fund IV (ARF IV)
XSML Capital, a leading provider of growth capital to SMEs in Central and Eastern Africa, has launched its 4th fund, African Rivers Fund IV (ARF IV), with a first close of US$ 98.7 million. The new funding allows XSML to double its investments and impact over the coming years and follow investees into new markets like Zambia.
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9 May 2024
Admaius backs Rwandese telecommunications operator and developer
Admaius Capital Partners (“Admaius”), an Africa focused private equity investor operating across several growth markets, today announced its majority equity investment into TRES Infrastructure Limited (“TRES” or “the Company”), the only local licensed tower owner, operator, and developer of shared telecommunications infrastructure in Rwanda.
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8 May 2024
P1 Ventures backs Egypt-based company
P1 Ventures' investment in MNZL's $3.5 million funding round highlights its dedication to supporting innovative ventures that use technology to meet essential financial needs and promote economic growth. MNZL, a pioneering fintech startup, aims to revolutionize the lending landscape in Egypt and the MEA region.
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7 May 2024
Ascent Rift Valley Fund II invests in leading East African packaging solutions provider
In a strategic move to bolster growth and expand its market presence, Dune Packaging Ltd, a leading packaging solutions provider in East Africa has announced a significant minority equity investment in its business by Ascent Rift Valley Fund II (“Ascent”), the premier SME focused Private Equity Fund in East Africa (the “Transaction”).
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29 April 2024
FMO invests US$10mn in Africa focused VC Fund
FMO, the Dutch entrepreneurial development bank, has committed $10 million to TLcom’s second Africa-focused VC fund, TIDE Africa II, which announced its final close at $154 million on 22 April 2024. In addition to FMO, which is investing through the FMO Ventures Program, other LPs include the European Investment Bank, AfricaGrow, Visa Foundation and Bertelsmann.
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25 April 2024
Standard Bank invests in climate infrastructure-focused fund
Standard Bank has committed to Acre Impact Capital’s Export Finance Fund I to support the financing of sustainable projects in Africa.
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24 April 2024
Mediterrania Capital Partners exits near €1bn milestone
Mediterrania Capital Partners (MCP), a Private Equity firm focused on growth investments for SMEs and mid-cap companies in North and Sub-Saharan Africa, announces it has completed its exit process from TGCC, a leading construction and civil engineering company based in Morocco.
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23 April 2024
Renew Capital in Kenyana B2B platform
Renew Capital recently made an investment in the B2B platform Farm to Feed, which targets unused produce, enhancing sustainability and farmer livelihoods
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18 April 2024
TLG provides US$3mn facility to ethical debt collection
TLG Capital, a leading pan-African alternative asset manager, has forged a strategic partnership with BFREE, a pioneering ethical debt collection startup based in Nigeria. With a $3m facility, TLG will empower BFREE to spearhead a transformative shift in ethical loan collection services across the continent.
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15 April 2024
Renew Capital investments in Mozambican fintech platform
Renew Capital's recent investment in Mozambican fintech platform Roscas highlights its commitment to empowering underserved communities and enhancing financial accessibility. By backing ventures like Roscas, Renew Capital aims to nurture economic resilience and expand the reach of essential financial services across sub-Saharan Africa.
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12 April 2024
Sahel Capital supports agriculture with US$2.4mn investment
Sahel Capital, a prominent investor in the food and agriculture sector in sub-Sahara Africa, has successfully approved a US$2.4 million working capital loan from its Social Enterprise Fund for Agriculture in Africa (SEFAA) facility. Launched in 2021 with KfW as the anchor investor, SEFAA aims to stimulate economic activities among smallholder farmers by empowering the social enterprises that engage with them. 
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10 April 2024
Injaro invests €2mn in West African packaging leader
Injaro Investment Advisors, a Ghanaian private capital fund manager, is excited to announce a EUR 2M equity investment in Nouvelle Mici Embaci (“NME”), one of the leading packaging companies in Côte d'Ivoire and Francophone West Africa. This marks the second investment made by the Injaro Ghana Venture Capital Fund (“IGVCF” or the “Fund”), and the Fund’s first investment in Côte d'Ivoire.
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9 April 2024
Renew Capital invests in Ghana for financial inclusion
Renew Capital has made an investment in Ghana's Affinity, a full-scale digital bank that was established with a vision to provide banking services to 350 million adults who remain unbanked in Africa.
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8 April 2024
Africa50, Injaro, and Verdant invest in fintech expansion in Africa
The investment was led by Africa50 and Oikocredit, with participation from Injaro Ghana Venture Capital Fund (IGVCF) and Verdant Capital Hybrid Fund. The transaction also included a follow-on investment from Investisseurs & Partenaires (I&P), through its I&P Afrique Entrepreneurs II (IPAE 2) investment vehicle. The investment will support the expansion of Zeepay’s cross-border remittances and mobile financial services businesses across Africa and the Caribbean.
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3 April 2024
Adenia closes oversubscribed $470mn fund for African growth investments
Adenia Partners (“Adenia”), a leading private equity firm focused on growth opportunities in Africa, has successfully closed its fifth fund, Adenia Capital V (the “Fund”, “AC(V)” or “Fund V”) at its $470 million hard cap. The Fund, which was significantly oversubscribed, attracted commitments from new and existing investors globally.
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28 March 2024
Open Society invests US$25mn to boost global climate projects
The Soros Economic Development Fund (SEDF), the impact investment arm of the Open Society Foundations, is committing $25 million to Allied Climate Partners (ACP)—a new and innovative public-private partnership focused on increasing the number of bankable climate projects in emerging markets and developing economies around the world.
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25 March 2024
 BII and DPI exit biopharmaceuticals platform
Development Partners International (“DPI”), a premier investment firm focused on Africa, British International Investment (“BII”), the UK government’s Development Finance Institution, and the European Bank for Reconstruction and Development (“EBRD”), announce the sale of 100% of the shares in KELIX bio, a leading emerging markets biopharmaceuticals platform, to Mubadala Investment Company (“Mubadala”), the Abu Dhabi investor with over $276bn in assets under management.
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22 March 2024
AfDB, BII, DEG, FMO, IFC and others invest in fertilizer production in Nigeria
IFC today announced a $1.25 billion financing package alongside partners to Indorama Eleme Fertilizer and Chemicals Limited in Nigeria. The investment will allow Indorama to ramp up its fertilizer production and develop a port terminal for exports, supporting food production and food security across regional and international markets, while fostering job creation in Nigeria.
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20 March 2024
IFC partners in US$5mn investment to boost African startup ecosystem
To bolster the startup ecosystem in Africa, IFC today announced a $5 million equity investment in P1 Ventures, a pan-African venture capital fund focused on pre-seed and seed stage investments in fintech, health, e-commerce marketplaces, and software.
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20 March 2024
lnjaro Investments exits stake in Ghana's oldest animal feed producer
lnjaro Agricultural Capital Holdings Limited ("IACHL" or "the Fund"), the impact investment fund managed by lnjaro Investments ("lnjaro"), is excited to announce the sale of its stake in Ghana's oldest animal feed producer, Agricare Limited ("Agricare") to Flour Mills of Ghana Limited ("FMGL"). This strategic sale represents a full exit from Agricare after a holding period of close to eight (8) years.
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19 March 2024
AfricInvest in $100mn series B global mobility fintech deal
AfricInvest recently participated in Moove's $100 million Series B funding round, which included contributions from Uber and Mubadala, valuing Moove at $750 million. This investment reflects AfricInvest's commitment to supporting transformative ventures that enhance financial inclusion and mobility solutions.
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19 March 2024
BII, FMO, IFC, Swedfund and Norfund commit to XSML’s African Rivers Fund IV
Norfund, alongside IFC and other DFIs, has committed $15 million to the frontier investor XSML Capital and their new fund – African Rivers Fund IV (ARF IV), bringing total commitments so far to almost $100 million. The investment will address the scarcity of capital towards the SME segment in frontier markets in Africa.
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19 March 2024
Admauis Capital Partners invests in Egyptian healthcare and wellness company
Admaius Capital Partners (“Admaius”) (www.Admaius.com), an Africa focussed private equity investor operating across several growth markets, today announced a strategic partnership with Parkville Holding Company B.V. (“Parkville” or the ‘Company’), a leading healthcare and wellness company in Egypt operating across several high-growth sub-segments.
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12 March 2024
Sahel Capital supports agricultural development with $590K 
Sahel Capital, a prominent investor in the food and agriculture sector in sub-Sahara Africa, has successfully approved a US$590k Term Loan loan from its Social Enterprise Fund for Agriculture in Africa (SEFAA) facility. Launched in 2021 with KfW as the anchor investor, SEFAA aims to stimulate economic activities among smallholder farmers by empowering the social enterprises that engage with them. 
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11 March 2024
Aruwa Capital Management co-leads US$3mn investment in diagnostics service provider
Aruwa Capital Management, an early-stage growth equity and gender lens fund investing in Nigeria and Ghana, is pleased to announce a $1.5 million investment into MDaaS Global (“MDaaS” or the “Company”), a modern, tech-enabled healthcare company enabling clinically underserved communities, access to quality and affordable healthcare and diagnostic services across Africa. The round was co-led by Aruwa Capital Management and Newtown Partners, an existing investor along with participation from Ventures Platform.
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11 March 2024
XSML Capital raises US$98.7mn in first close of 4th fund
XSML Capital, a leading provider of growth capital to SMEs in Central and Eastern Africa, has launched its 4th fund, African Rivers Fund IV (ARF IV), with a first close of US$ 98.7 million. The new funding allows XSML to double its investments and impact over the coming years and follow investees into new markets like Zambia.
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8 March 2024
Bpifrance co-invests in global technology investment firm
Mubadala Investment Company (“Mubadala”), an Abu Dhabi-based global sovereign investor, and Bpifrance, the French public investment bank, today announced a joint investment in global technology investment firm Partech's latest Africa-focused venture capital fund, Partech Africa II.
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4 March 2024
IFC invests US$5mn to support trade development in Guinea
To help boost trade in Guinea amidst local and global challenges, IFC announced a trade finance facility of up to $5 million for Coris Bank International Guinea (CBI Guinea).
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28 February 2024
TPG exits Mavin Global to Universal Music Group
TPG has fully exited its investment in Mavin Global as part of Universal Music Group's majority acquisition of the Nigerian independent record label. This transaction underscores TPG's role in supporting Mavin's growth and success in promoting Afrobeats artists globally. The deal, subject to regulatory approval, is expected to close by the end of Q3 2024, marking a significant milestone in Mavin's trajectory within the music industry.
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28 February 2024
DEG's €1.9bn investment drives sustainable development impact
Deutsche Investitions- und Entwicklungsgesellschaft mbH ("DEG"), continued to forge ahead in 2023 despite a still challenging environment: It committed a new record volume of EUR 1.9 billion for private investments in developing and emerging countries (2022: EUR 1.6 billion). DEG mobilised a further EUR 613 million from other investors, significantly more than in the previous year (2022: EUR 487 million). The DEG portfolio grew to EUR 10.3 billion.
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21 February 2024
AFC investment in AMCE Nigeria
Africa Finance Corporation (AFC), the continent's leading instrumental infrastructure solutions provider, today signed an equity investment term sheet, pledging up to US$40 million towards the construction of the African Medical Centre of Excellence (AMCE) Abuja hospital. The visionary 500-bed medical health facility is currently being developed by Africa Export-Import Bank (Afreximbank), the leading trade finance bank for Africa, in partnership with King’s College Hospital, London (KCH). The agreement was signed at the inaugural AMCE African Health Forum in Abuja.
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21 February 2024
CardinalStone exits stake to Verod Capital
CardinalStone Capital Advisers (“CCA”), a West Africa focused private equity firm, is pleased to announce that its CardinalStone Capital Advisers Growth Fund (“CCAGF”) has successfully sold its stake in i-Fitness Nigeria Limited (“i-Fitness”), to Verod Capital Management Limited (“Verod”).
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21 February 2024
Verod invests in West Africa's top fitness chain
Verod, a leading prominent African investment management firm specialising in private equity and venture capital, has invested in i-Fitness, West Africa’s largest and fastest-growing fitness chain. This investment is the most recent investment from the Verod Capital Growth Fund III, marking the sixth addition to the fund’s portfolio.
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15 February 2024
UBS Optimus Foundation and SEDF invests US$20mn in East Africa oxygen project
Hewatele, a medical oxygen producer in Kenya, has secured a 20 million USD funding package from Finnfund, DFC (the U.S. International Development Finance Corporation), SEDF (Soros Economic Development Fund), UBS Optimus Foundation and Grand Challenges Canada. Hewatele will use the debt and equity funds raised to finance the building of a liquid oxygen(LOX) manufacturing facility some 20kms in the outskirts of City of Nairobi, together with regional distribution capacity at key strategic regions within Kenya, while also doubling its existing capacity at hospital-based sites to produce and distribute medical oxygen using pressurized gas cylinders (GOX).
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13 February 2024
Injaro announces final close of Ghana Venture Capital Fund
Injaro Investment Advisors Limited is excited to announce the successful final close of its multi-sector Ghana Cedi-denominated private equity fund – the Injaro Ghana Venture Capital Fund (IGVCF). The Fund, which is backed by local pension funds, achieved a final close with an AUM of GHS 216M on December 29, 2023.
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12 February 2024
Swedfund's investment fuels financial inclusion in West Africa
Swedfund invests USD 5 million in a loan to Teyliom Finance, a subsidiary of Teyliom Group, a leading pan-African group active in five industries, across twelve countries. The investment is directed towards Bridge Bank Microfinance to strengthen financing for micro, small and medium sized enterprises (MSMEs) and is expected to enhance financial empowerment of women in Côte D'Ivoire.
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12 February 2024
Amethis invests in North African data management consultancy firm
Amethis completes a minority investment in BBI, the leading data management consultancy firm in the MENA region.
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8 February 2024
Sahel Capital Provides US$1.5mn trade finance
Sahel Capital, a prominent investor in the food and agriculture sector in sub-Sahara Africa, has successfully approved a US$1.5 million Trade Finance loan from its Social Enterprise Fund for Agriculture in Africa (SEFAA) facility. Launched in 2021 with KfW as the anchor investor, SEFAA aims to stimulate economic activities among smallholder farmers by empowering the social enterprises that engage with them.
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7 February 2024
Sahel Capital supports smallholder farmers with US$1.5mn
Sahel Capital, a prominent investor in the food and agriculture sector in sub-Sahara Africa, has successfully approved a US$1.5 million Trade Finance loan from its Social Enterprise Fund for Agriculture in Africa (SEFAA) facility. Launched in 2021 with KfW as the anchor investor, SEFAA aims to stimulate economic activities among smallholder farmers by empowering the social enterprises that engage with them. 
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7 February 2024
EIB invests €115mn in MEDZ for Moroccan technology park expansion
The EIB is providing €115 million (approximately MAD 1.3 billion) to MEDZ, a wholly owned regional development subsidiary of CDG Group, to expand and modernise ten technology parks strategically located in five Moroccan regions. This financing reaffirms EIB cooperation with CDG Group.
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5 February 2024
Old Mutual announces investment in Afropulse Group
Old Mutual Alternative Investments (OMAI), through its Hybrid Equity capability, a specialist in innovative financial solutions, today announced a transformative R125 million preference share facility to Afropulse Group, a wholly black women-owned investment holding company, to restructure its funding, which is backed by an equity interest in Imperial Logistics South Africa, one of the country’s largest logistics firms.
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1 February 2024
Avanz Capital takes stake in Egyptian-based Bosta
Avanz Capital Egypt (ACE), the Egyptian private capital arm of Avanz Capital Management, and the General Partner of Avanz Manara for Private Equity (Avanz Manara) announced the investment in Bosta through Avanz Manara alongside other reputable institutional private capital firms. This investment aligns with the Avanz Manara mandate of supporting the growth of small and medium enterprises (SMEs) in Egypt by making direct co-investments in SMEs or investing in SME focused private equity and venture capital funds.
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1 February 2024
DLA Piper appoints new Managing Partner for Nigeria office
DLA Piper Africa’s Nigeria office (Olajide Oyewole LLP) has announced the appointment of Mrs Bola Tinubu as its Managing Partner, effective 1 January 2024. Bola succeeds Mr Tunde Oyewole who will now serve as Chairman of the Nigeria Firm’s Board.
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30 January 2024
Joliba Capital's maiden fund hits EUR€89mn
Joliba Capital, an African private equity firm majority-owned by LBO France, a multi-specialist and multi-country investment platform, and founded by two seasoned African investment professionals Hamada Touré (Managing Partner) and Yann Pambou (CEO & Managing Partner), is pleased to announce a first close of its inaugural fund, Joliba Capital Fund I, at EUR 89 million.
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30 January 2024
Swedfund Invests in SME growth in francophone Africa
Sweden’s Development Finance Institution, invested 15 MEUR Joliba Capital Fund I. The investment will enable growth of small and medium sized companies which are key for private sector growth and job creation in the least developed regions of Francophone Africa.
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25 January 2024
FMO invests US$10mn in clean energy distribution in Africa
FMO, the Dutch Entrepreneurial Development Bank, has provided climate fintech platform Nithio with a USD 10 mln in funding for its investment vehicle, FAIR: the Facility for Adaptation, Inclusion, and Resilience. FAIR provides financing to companies offering clean energy solutions to households and small enterprises in Africa.
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25 January 2024
UBS Optimus Foundation finalises seed funding round
Elucid, aBerlin-based sustainability tech firm, is excited to announce the successful close of its Seed II funding round. Following the first closing of the round in August 2023, the recent investment from UBS Optimus Foundation marks the finalization of Elucid's seed funding round. This investment will help scale Elucid’s geographical reach in Africa and South America, strengthen its central team, and further enhance its digital platform.
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25 January 2024
Renew Capital invests in Sawa Energy
Renew Capital has invested in Sawa Energy, a pioneering company in East Africa focused on democratizing access to solar power for small and medium-sized enterprises. By eliminating upfront costs and operational fees, Sawa Energy aims to revolutionize the energy landscape in Rwanda and Uganda.
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23 January 2024
IFC invests in Sonatel's securitization for Senegal connectivity
To help expand reliable 4G coverage in Senegal, especially to rural and underserved parts of the country, IFC today announced anchor investments in two bonds issued by a securitization vehicle of Sonatel, a leading mobile network operator in West Africa.
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22 January 2024
British International Investment invests in Ghana's eSAL expansion
Growth Investment Partners (GIP) Ghana, a platform created by British International Investment (BII), the UK’s development finance institution and impact investor, today announced its first investment in Ghanaian Business Process Outsourcing (BPO) company E-Services Africa Limited (eSAL). The investment will support eSAL’s growth and its global delivery of cost-effective and high-quality outsourcing solutions for businesses.
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12 January 2024
IFC invests US$30mn in AIIM Fund
To boost essential infrastructure development in countries across Africa, IFC announced a $30 million equity investment in the Africa Infrastructure Investment Fund 4 Partnership (AIIF4).
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11 January 2024
British International Investment commits US$40mn to Apis Growth Markets Fund III
British International Investment ("BII"), the UK’s development finance institution and impact investor, today underlined its support for fintech entrepreneurs with a $40 million commitment to a new Apis fund – the Apis Growth Markets Fund III (“Apis III”). Apis Partners LLP (“Apis”) is a UK-based private equity firm investing exclusively in high-growth, capital-light, tech-enabled financial services businesses globally.
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10 January 2024
EIB invests US$30mn in Seedstars Africa Ventures
Innovative businesses and start-ups across Africa will benefit from better access to risk capital thanks to a US$30 million equity investment by EIB Global in the Seedstars Africa Ventures I venture capital fund. Increased access to capital will allow companies to grow, creating skilled jobs and improving products and services for businesses and consumers.
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9 January 2024
Lexington Partners raises $22.7bn for global secondary fund
Lexington Partners (“Lexington”), a leading manager of secondary acquisition funds, today announced the completion of fundraising for Lexington Capital Partners X, L.P. (“LCP X”) with $22.7 billion of total capital commitments. The fund surpassed its $15 billion fundraising target and significantly exceeded Lexington’s prior secondary fund, LCP IX, which closed on $14 billion in 2020.
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9 January 2024
British International Investment co-leads €14mn loan 
British International Investment (BII), the UK development finance institution (DFI) and impact investor, has committed a senior loan of €14 million to COFINA Côte d’Ivoire, a specialist meso-finance lender, to support the growth of Micro-, Small- and Medium-sized Enterprises (MSMEs) and advance gender finance.
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9 January 2024
Africa50 reaches first close with US$222.5mn
Africa50 Group, the pan-African infrastructure investment platform announced today the successful first close of the Africa50 Infrastructure Acceleration Fund (Africa50 – IAF) on December 29th, 2023 - securing $222.5 million in commitments.
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8 January 2024
IFC commits €300m loan for renewable energy expansion.
The International Finance Corporation (IFC) announced today a green and sustainability-linked loan (SLL) of €300 million (equivalent to $329 million) to Iberdrola. IFC's loan will finance renewable energy projects in emerging markets, including a number of countries that currently rely heavily on coal, such as Morocco, Poland, and Vietnam. IFC has already committed a first tranche of €170 million, which will finance onshore wind projects in Poland.
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8 January 2024
Norfund partners to provide financing for power transmission and distribution
Norfund has partnered with Affirma Capital and KLP to provide financing for CEC, an independent power transmission and distribution company in Zambia.
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8 January 2024
Alitheia Capital joins the United Nations Global Compact initiative
Alitheia Capital, a pioneering impact investing firm based in Lagos, Nigeria, has today announced that it has joined the United Nations Global Compact — a voluntary leadership network for the development, implementation, and disclosure of responsible business practices. 
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2 January 2024
EIB commits €400mn in renewable energy transition
The European Investment Bank (EIB) has committed €400 million to support a significant new investment for MYTILINEOS Energy and Metals (MYTILINEOS), which will accelerate renewable energy production across Greece and other EU states.
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28 December 2023
Amethis acquires major stake in Capital Banking Solutions
Amethis takes a majority stake in Capital Banking Solutions, a European player in the banking software market, in order to accelerate its international development.
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22 December 2023
Swedfund invests US$32mn in emerging markets fund, serving low- and middle-income consumers 
Swedfund invests USD 32 million in Apis Growth Markets Fund III, a fund serving low- and middle-income consumers across Africa, South and Southeast Asia.
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22 December 2023
AXIAN Energy receives US$30mn commitment from EAIF
The Emerging Africa Infrastructure Fund (EAIF), a Private Infrastructure Development Group (PIDG) company, has committed a US$ 30 million senior secured loan facility to AXIAN Energy, as part of the company’s expansion plan to deliver more than 460 Megawatt (MW) of utility-scale renewable energy generation capacity across Africa over the next decade.
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21 December 2023
IFC co-invests US$455mn to Expand Egypt’s Damietta Port
IFC today announced an investment in a second container terminal at Egypt's Damietta Port that is expected to triple the port's capacity when complete in 2025, supporting trade and economic activity in the region and creating thousands of direct and indirect jobs during the construction and operational stages.
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18 December 2023
British International Investment commits US$15mn to NMB Bank’s sustainability bond
British International Investment (BII), the UK’s development finance institution and impact investor, announced its anchor commitment of $15 million equivalent in Tanzanian Shilling to NMB Bank’s (NMB) inaugural sustainability bond offering, known as the NMB Jamii Bond.
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15 December 2023
TLG Capital launches $5mn debt facility for Flow 48 
Global private investment firm, TLG Capital (TLG), today announced a debt facility of up to $5.0 million in Flow 48, anearly-stage FinTech company at the forefront of redefining Alternative Finance in Africa. Flow 48 introduces an automated and integrated platform providing clients access to financing based on their revenues. This investment underscores TLG's commitment to fostering innovation in lending to provide African SMEs access to capital. 
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12 December 2023
Proparco and DEG strengthen partnership with MCB
To support the scaling of climate finance in Mauritius, Proparco and DEG announced a new partnership with The Mauritius Commercial Bank Ltd (MCB) to support the bank in expanding its climate finance offering in Mauritius and Sub-Saharan Africa.
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11 December 2023
British International Investment invests in Nigeria cashew processing expansion
British International Investment announces new investment to expand cashew processing and warehousing facilities in Nigeria.
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5 December 2023
British International Investment announces climate finance investment at COP28
British International Investment, the UK’s development finance institution and impact investor, announced six new climate finance investments today.  The commitments, totalling $55 million, which were first announced by UK Prime Minister Rt Hon Rishi Sunak MP in his COP28 speech on Friday, underline the DFI’s accelerating commitment to providing climate finance to support those countries most vulnerable to the impacts of the climate emergency.  
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5 December 2023
DEG invests USD50mn to Emerging Markets Infrastructure Fund II (EMIF II)
DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH is investing in the transition to a climate-friendly economy with a contribution of USD 50 million to the Emerging Markets Infrastructure Fund II (EMIF II) managed by A.P. Moller Capital. The fund will focus on investments in transport infrastructure and renewable energy in selected high growth markets in South and South East Asia and Africa that resolve local logistical bottlenecks and generate green electricity.
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30 November 2023
White & Case advises on sale of Khoemacau copper mine for US$1.875bn
Adiwale Fund I and Investisseurs & Partenaires (I&P), through its fund IPAE 2, announced the acquisition of a majority stake in VRS Africa. The company offers operational car leasing and fleet management services for corporate clients.
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29 November 2023
British International Investment invest ZAR125 million (US$6.7mn ) in 140MW wind farms
British International Investment today announced a ZAR125 million ($6.7 million ) investment in two 140MW wind farms in the Northern and Eastern Cape of South Africa. The new funding was trailed at a business reception in Cape Town hosted by BII and the UK’s development finance institution (DFI) and impact investor, while they celebrated 75 years of investing for impact in Africa.
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29 November 2023
Africinvest, Amethis, Proparco and IFC acquire a majority stake in Netis
A consortium of investors including Africinvest, Amethis, Proparco and the International Finance Corporation (IFC) has acquired a majority stake in Netis, a leading pan-African telecommunication infrastructure service provider.
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27 November 2023
DPI and Verod Capital partner to back Pan African Towers
Pan African Towers (PAT), a leading digital infrastructure company based in Nigeria, has announced a strategic investment from Development Partners International (DPI), a premier investment firm focused on Africa, and Verod Capital (Verod), one of the continent’s leading investment management firms. DPI and Verod are investing in PAT to fuel its continued growth and will work with management to build on the company’s recent achievements and reaffirm its position as Nigeria’s largest homegrown digital infrastructure provider.
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22 November 2023
IFU invests €21mn to expand healthcare in Morocco
To increase access to affordable healthcare in Morocco, IFU has invested EUR 21 million in ODM, a leading healthcare provider in the country. The investment will serve a dual purpose, enabling ODM to expand its existing network and diversify its service offerings, thus contributing to the realization of Morocco's broader national healthcare strategy. IFU’s investment is made on behalf of the Danish SDG Investment Fund, which is backed by IFU, large Danish pension funds and private investors.
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22 November 2023
Africa50 and AfricInvest co-lead investment in Africa Healthcare Network
Africa Healthcare Network (AHN), a leading provider of dialysis services in Africa, has secured $20 million in equity and debt funding, from Africa50 and AfricInvest, two leading African institutions, and Tokyo-based Ohara Pharmaceutical Co., Ltd.
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21 November 2023
Mediterrania Capital Partners welcomes Bpifrance to MC IV fund
Mauritius. Mediterrania Capital Partners, a Private Equity firm focused on growth investments for SMEs and mid-cap companies in North Africa and Sub-Saharan countries, is pleased to announce that Bpifrance will be joining the MC IV fund to support mid-cap companies in North and Sub-Saharan Africa. Bpifrance will invest through Averroès, its Funds of funds dedicated to Africa.
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17 November 2023
Catalyst exits 4 utility scale solar PV projects
Catalyst is proud to announce the successful sale last summer of 90% of the Catalyst MENA Clean Energy Fund (CMCF) portfolio. The sale of 4 utility scale solar PV projects located in Jordan and Egypt were sold as a portfolio to an international strategic buyer, resulting in top quartile returns. Catalyst’s investors are primarily EU Governments. Catalyst has made a significant impact on the renewable energy landscape by developing some of the MENA region’s first utility scale solar PV projects, across Jordan and Egypt.
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14 November 2023
Ventures Platform co-leads investment in Shekel Mobility
Operating within this strategic domain is YC-backed Shekel Mobility. The B2B auto dealers marketplace has secured over $7 million in funding, comprising $3.2 million in equity and over $4 million in debt.
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13 November 2023
Convergence Partners co-leads US$25mn investment in CSquared with IFC
Successful equity raise from new and existing shareholders enhances CSquared’s ambition to create a Digitally Connected Africa via significant infrastructure rollout. The new investment in CSquared by Convergence Partners Digital Infrastructure Fund (“CPDIF”) and IFC also results in streamlining of CSquared ownership structure.
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9 November 2023
Mediterrania Capital IV receives €15mn commitment from British International Investment 
Mauritius. Mediterrania Capital Partners, a Private Equity firm focused on growth investments for SMEs and mid-cap companies in North Africa and Sub-Saharan countries, is pleased to announce that British International Investment(BII), UK’s development finance institution and impact investor, will be investing €15 million in the new MC IV fund to support mid-cap companies in North and Sub-Saharan Africa.
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8 November 2023
Oikocredit invest in Good Nature Agro
Amersfoort, the Netherlands – Social impact investing cooperative Oikocredit has joined with co-investors Goodwell Investments and Global Partnerships/Eleos Social Venture Fund to provide US$ 8.5 million in equity to Zambian social enterprise Good Nature Agro.
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7 November 2023
British International Investment partially exits TVS ILP
BII’s investment led to the implementation of green building practices across all TVS ILP’s warehouses in India. BII remains as significant minority stakeholder to support TVS ILP’s growth plans
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5 November 2023
Flat6lab raised funding up to SAR2.4mn
Riyadh Valley Company, the investment arm of King Saud University and a prominent player in the investment landscape of Saudi Arabia, is delighted to announce its strategic investment in Flat6Labs’ Startup Seed Fund, a move that solidifies its commitment to supporting the growth and development of the region’s vibrant startup ecosystem.
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2 November 2023
Africa Finance Corporation exits equity stake in Ghana’s Takoradi Port
Africa Finance Corporation (AFC), the continent’s leading infrastructure solutions provider, has exited its 35% equity investment in Atlantic Terminal Services Limited (ATSL), the concessionaire for the expansion of Ghana’s Takoradi Port, to the global ports and container terminals operator Yilport Holding. This is testament to the Corporation’s ability to attract international 3rd party capital and exit strategic infrastructure assets built by derisking through AFC’s unique project development and construction offering.
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1 November 2023
British International Investment commits US$26.5mn to address food security
 British International Investment (BII), the UK’s development finance institution (DFI) and impact investor, today announced a US$26.5 million commitment to AFEX, Africa’s leading commodities platform, which currently operates over 200 warehouses in Nigeria, Kenya, and Uganda and serves over 450,000 farmers. The investment will support structural improvements in Africa’s agricultural industry, which will significantly benefit smallholder farmers and lead to improvements in food security.
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31 October 2023
Savant Venture Fund co-investment in BurnStar Technologies
Sibanye-Stillwater, a multinational mining and metals group with a diverse portfolio of projects and investments across five continents, and Savant Venture Fund, a leading sustainable technology and engineering investment firm, are proud to announce their strategic investment in BurnStar, a pioneering South African clean hydrogen company. This collaboration marks a significant milestone in South Africa’s journey toward a sustainable energy future, centered around the production of Guilt–Free (Turquoise) Hydrogen™.
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30 October 2023
Injaro Investments IGVCF makes US$2mn investment in Zeepay
Injaro Investment Advisors, a Ghanaian private capital fund manager, is delighted to announce a USD 2M equity investment in the Series A.5 round for Zeepay Ghana Limited (‘Zeepay’). In this inaugural investment of its Injaro Ghana Venture Capital Fund (“IGVCF” or the “Fund”), Injaro joins a consortium of international investors for the current fundraising round.
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30 October 2023
Exeo Capital’s Agri-Vie II Fund injects US$10mn into Ugandan diary production
The African continent is becoming a net exporter of food and now, propelled by the African Continental Free Trade Area (AfCFTA), the agricultural sector could provide the impetus needed to boost Africa’s domestic processing capacity and reap far-reaching economic rewards. These favourable prospects bode well for food processing businesses like Amos Dairies Limited – the most recent investment by EXEO Capital’s Agri-Vie Fund II.
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23 October 2023
Proparco joins FMO in US$43mn investment in Husk
Husk Power Systems (Husk), the leading minigrid company serving rural communities in Sub-Saharan Africa and South Asia, has secured a new round of equity investment totalling $43 million. New investors include STOA, which led the round, the U.S. International Development Finance Corporation (DFC), and Proparco, with follow-on investments from existing shareholders including Swedfund and FMO. The funding will accelerate the rollout of minigrids in rural and peri-urban Nigeria and India, enabling increased access to clean, affordable, reliable, and modern energy.
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17 October 2023
African Development Bank backs Africa’s first Sustainable Panda Bond
Egypt has successfully issued a 3-year Sustainability Panda Bond worth  RMB 3.5 billion ($478.7 million). The North African nation is the first on the continent to do so, a move that underscores its commitment to access previously untapped sources of capital to drive economic growth.
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16 October 2023
The Energy Entrepreneurs Growth Fund (EEGF) exceeds target, successfully closing at US$125mn
The Energy Entrepreneurs Growth Fund (EEGF), an initiative led by Shell Foundation, a UK-registered charity, in collaboration with FMO, the Dutch entrepreneurial development bank, successfully closed its fundraising period on 31 July 2023 with commitments totaling US$125 million, a remarkable leap from its initial round which closed at US$45 million. This achievement signifies a pivotal step towards the goal of extending access to clean energy solutions in underserved regions within Sub-Saharan Africa.
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16 October 2023
AfricInvest and Verod Capital acquire stake in iSON Xperiences
16 October 2023: Verod Capital and AfricInvest have partnered to acquire a majority stake in iSON Xperiences, a leading ICT solutions provider. Established in 2010, iSON Xperiences specialises in delivering business process outsourcing (BPO), business process management, and digital customer experience solutions across Africa, the United Arab Emirates, and India. The company serves more than 500 million end-users spanning diverse sectors such as Telecom, Financial Services, Energy & Utilities, Media & Entertainment, Aviation, Retail and E-commerce. iSON Xperiences employs over 18,000 individuals across 19 countries, including 16 in Africa.
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13 October 2023
IFC invests US$50mn in new LeapFrog fund
Nairobi, Kenya, October 6, 2022 —IFC today announced an investment in a new fund by LeapFrog Investments, one of the largest private equity groups dedicated to impact investing in emerging markets, to improve fast-growing health and financial services firms' access to growth capital and support job creation in Africa, South Asia, and Southeast Asia
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11 October 2023
Alitheia IDF invests US$5mn to revolutionise South Africa's textile industry.
Adiwale Fund I and Investisseurs & Partenaires (I&P), through its fund IPAE 2, announced the acquisition of a majority stake in VRS Africa. The company offers operational car leasing and fleet management services for corporate clients.
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10 October 2023
Adenia has acquired a majority stake in Enfin
Adenia Partners (“Adenia”), a private markets investment firm committed to responsible investing and a sustainable Africa, has completed a majority investment in Enfin, a solar financing solutions provider serving commercial and industrial clients across South Africa, as the first investment from its fifth flagship fund (“Adenia V” or “the Fund”).
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8 October 2023
Renew Capital invest in micro insurance platform, Jamii.one 
Ethiopia, September 28, 2023 — Driving towards financial inclusion for communities across Ethiopia, Renew Capital Angels has partnered with Jamii.one, a trailblazer micro-insurance platform for the African landscape.
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6 October 2023
Aruwa Capital provides US$20,000 grant to Taeillo
Aruwa Capital Management and Taeillo are empowering Women for a Brighter Tomorrow Aruwa Capital Management in partnership with Ford Foundation is pleased to have provided a $20,000 grant to Taeillo to ensure more women are brought into skilled roles in furniture production. Aruwa Capital Management and Taeillo have embarked on an inspiring journey in collaboration with Impact HER Africa to launch a Women Empowerment Program (TWEP) with a clear mission to equip 20 remarkable women with essential skills over the next 3 months.
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6 October 2023
Oasis Capital Ghana exits legacy girl's college
Accra, Ghana - Oasis Capital Ghana, an SME growth equity investor in West Africa, is delighted to announce the successful exit of its holdings in Legacy Girls College (LGC), a leading educational institution based in Ghana catering exclusively to female students. This achievement marks a significant milestone as it represents the first complete exit from the Oasis Africa Fund I.
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5 October 2023
Sanari reaches US$65mn in second close for growth fund
Sanari Capital, a women-led and majority Black- and women-owned South African private equity firm, has successfully raised R1.25 billion (approximately $65 million) for its growth fund. The fund is poised to play a pivotal role in fuelling employment opportunities and fostering economic growth in South Africa and across the African continent. This marks the second closing for the Sanari 3S Growth Fund as the firm edges closer to its goal of reaching a final close equivalent of up to $100 million.
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4 October 2023
CrossBoundary partners to scale scale battery swapping services across Nigeria 
CrossBoundary Access and Mobile Power are announcing a $10 million partnership to deploy MOPO Hubs in Nigeria, providing energy access to 300,000 people using an innovative battery service. CrossBoundary Access has committed an initial $2.25 million for the transaction, with the option to extend up to $10 million.
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4 October 2023
Alterra has announced the first close for the Alterra Africa Accelerator Fund (AAA Fund)
Alterra announced the first close for the Alterra Africa Accelerator Fund, raising US $140mn. Further commitments are expected to raise as much as the targeted fund cap of $500 million.
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27 September 2023
Amethis invests in Energy Transfo
Amethis is pleased to announce that it has acquired a minority stake in Energy Transfo, a major player in the design and manufacture of solutions for the electricity and renewable energy sectors in Morocco.
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26 September 2023
Alitheia IDF leads investment in Lupiya
Zambian fintech Lupiya has raised $8.25 million in a Series A funding round led by Alitheia IDF Fund, with participation from INOKS Capital SA and the German Investment Bank KfW DEG.
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26 September 2023
AIIM expands temperature-controlled logistics platform with acquisition of Sequence Logistics
Commercial Cold Holdings (CCH), a leading cold chain logistics platform controlled by funds managed by African Infrastructure Investment Managers (AIIM) a subsidiary of Old Mutual Alternative Investments, is achieving significant milestones in its expansion within the temperature-controlled logistics industry.
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26 September 2023
IFC invests in E-Commerce Platform ANKA to support Africa’s creative artisans
An IFC investment into leading African e-commerce platform ANKA will support the growth of thousands of small and women-led artisanal businesses, strengthening Africa's creative industries and its growing online retail sector.
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25 September 2023
Amethis invests in HB Aesthetics to accelerate MEA expansion  
Amethis Europe Expansion invests in HB Aesthetics, a European player in the cosmetics market, in the context of a primary LBO alongside its chairman and founder Raphaël Chauchard-Rios
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25 September 2023
Mediterrania Capital IV receives a €20mn commitment from Cassa Depositi e Prestiti S.p.A. (CDP Group)
Mediterrania Capital Partners, a Private Equity firm focused on growth investments for SMEs and mid-cap companies in North Africa and Sub-Saharan countries, is pleased to announce that Cassa Depositi e Prestiti S.p.A. (CDP Group) will be investing €20 million in the new MC IV fund to support mid-cap companies in North and Sub-Saharan Africa.
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22 September 2023
Metier announces first close of Metier Capital Growth Fund III 
Metier announced the first close for Metier Capital Growth Fund III, raising just over $182 million, with further commitments expected by final close positioning Metier to exceed its targeted fund size of $200 million.
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21 September 2023
Mediterrania Capital IV receives a €30mn commitment from EBRD
Mediterrania Capital Partners, a Private Equity firm focused on growth investments for SMEs and mid-cap companies in North Africa and Sub-Saharan countries, is pleased to announce that the EBRD will be investing up to €30 million in the new MC IV fund to support mid-cap companies in North and Sub-Saharan Africa.
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20 September 2023
ARAF and Alitheia Capital co-leads US$10.4mn investment in Complete Farmer
Complete Farmer, an end-to-end digital, agricultural marketplace that connects African farmers and global industries to competitive markets, resources, data, and each other on a single platform, raises $10.4 million in a Pre-Series A funding round of equity and debt. The equity portion of the round was co-led by the Acumen Resilient Agriculture Fund (ARAF) and Alitheia Capital via its uMunthu II Fund in partnership with Goodwell Investments, who were joined by Proparco, Newton Partners and VestedWorld Rising Star Fund. Debt financing was provided by Sahel Capital’s SEFAA (Social Enterprise Fund for Agriculture in Africa) Fund, Alpha Mundi Group through its Alpha Jiri Investment Fund and Global Social Impact Investments, to fund both CAPEX and working capital investments in support of short and long-term growth.
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13 September 2023
TPG to invested US$336MN in Denodo
Denodo (the “Company”), a leader in data management, and TPG (NASDAQ: TPG), a global alternative asset management firm, today announced that they have signed a definitive agreement for TPG Growth, the firm’s middle market and growth equity platform, to invest $336 million in Denodo’s Series B preferred equity. The transaction, which includes both primary capital and a secondary sale of shares by HGGC, is expected to close in early October following customary regulatory approvals. HGGC, which invested in Denodo’s Series A investment round in 2017, will remain a significant investor.
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13 September 2023
Alitheia IDF backs Rentoza
Rentoza, a South African-based online subscription platform, recently secured a significant boost in funding with investments totalling $6 million from two prominent funders. The funding round was led by Alitheia IDF and included the Vumela Enterprise Development Fund. 
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13 September 2023
Joliba Capital reaches first close for West and Central Africa fund
Adiwale Fund I and Investisseurs & Partenaires (I&P), through its fund IPAE 2, announced the acquisition of a majority stake in VRS Africa. The company offers operational car leasing and fleet management services for corporate clients.
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12 September 2023
Adiwale Fund I acquires a minority stake in Global Action
Adiwale Fund I announces a minority equity investment in Global Action, a growing consumer goods distribution company in Senegal. Global Action was founded in 2014 by Moussa Mboup, a Senegalese businessman with over 35 years' experience in wholesale and retail distribution. The company is a significant player in wholesale distribution in Senegal with customers in several regions of the country.
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8 September 2023
AfDB's Sustainable Energy Fund for Africa raises US$50mn in new commitments from Germany and USA at Africa Climate Summit
The African Development Bank's Sustainable Energy Fund for Africa (SEFA) welcomes approximately $50 million in new funding contributions from Germany and the United States. The contributions will serve to boost its position as one of the continent's leading climate finance facilities.
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5 September 2023
Renew Capital invests in FlexPay
FlexPay’s "save now, buy later" platform allows customers to purchase products over time, interest-free, by setting personal savings goals. They provide customers with greater financial flexibility and purchasing power by collaborating with merchants to facilitate flexible payment options for high-value goods and services. 
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4 September 2023
Kasada acquires former Radisson Blu Hotel & Residence in Cape Town
Kasada, the leading independent real estate private equity platform dedicated to the hospitality industry in Africa, is pleased to have acquired the former Radisson Blu Hotel & Residence, the 214-room hotel in the center of Cape Town from a local real estate investment company.
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4 September 2023
Kasada aquires Cape Town Hotel
Port Louis, Mauritius, 4 September 2023 – Kasada, the leading independent real estate private equity platform dedicated to the hospitality industry in Africa, is pleased to have acquired the former Radisson Blu Hotel & Residence, the 214-room hotel in the center of Cape Town from a local real estate investment company.
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4 September 2023
FMO jointly invests US$12mn in Okra Solar
Okra Solar, known for pioneering mesh-grid technology, has just closed their Series-A round of financing to scale mesh-grid technology - with more than $12M of fresh financing including debt and equity with $7.85M raised on equity led by At One Ventures, along with FMO, Susquehanna Private Equity Investments LLLP, Autodesk Foundation and King Philanthropies. The debt financing was provided by EDFi.
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30 August 2023
AfDB backs Triple Jump For Energy Entrepreneurs Growth Fund
In July 2023, the Energy Entrepreneurs Growth Fund (EEGF) signed a US$ 6.5mn concessional loan agreement with the African Development Bank (AfDB) to replenish its facility with EEGF as part of the COVID-19 Off-Grid Recovery Platform (CRP). This patient and risk-tolerant capital funded by the Global Environment Facility (GEF), will be blended with EEGF capital to provide loans on more affordable terms to support a strong recovery and further growth of this emerging industry.
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29 August 2023
Sahel Capital enables hibiscus export from Nigeria with a Trade Finance Loan to Sourcing and Produce Limited.  
Sahel Capital, a prominent investor in the food and agriculture sector in sub-Sahara Africa, is thrilled to announce a US$1 million trade finance facility extended to Sourcing and Produce from its Social Enterprise Fund for Agriculture in Africa (“SEFAA”) fund. Launched in 2021 with KfW as the anchor investor, SEFAA aims to stimulate economic activities among smallholder farmers by empowering the social enterprises that engage with them.
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23 August 2023
RH Managers raise R2bn to boost SA’s social and energy infrastructure
In Johannesburg today, 22 August 2023 - RH Managers (RHM), a Johannesburg-based private equity and infrastructure investment firm is on a fund-raising drive for a R2bn Social Impact Fund to boost South Africa’s healthcare and energy infrastructure.
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21 August 2023
AIIM invests US$90mn to develop a new Pan-African data center
African Infrastructure Investment Managers (AIIM), a leading African infrastructure private equity manager, and N+ONE DATACENTERS (N+ONE), a leading African data center owner and operator, are joining forces to  develop a new Pan-African data center and cloud services platform with a short-term target capacity of 40 MW. N+ONE will contribute its existing market leading portfolio of digital infrastructure assets and extensive products in Morocco and AIIM will be contributing an initial USD 90 million of growth equity through its latest pan-African infrastructure fund, African Infrastructure Investment Fund 4 (“AIIF4”).
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15 August 2023
LoftyInc invests in Emtech
Emtech, an African provider of central banking infrastructure, introduced its Central Bank Digital Currency (CBDC) Innovation kit last month. The kit caters to fintechs and financial service providers interested in experimenting with solutions and business models based on digital currencies pioneered by central banks.
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4 August 2023
Verdant Capital raises EUR10mn of debt funding for Bridge Taxi Finance
Bridge Taxi Finance (“Bridge Taxi”), a Mokoro Holdings subsidiary, is a development company offering finance and support products to the minibus taxi industry in South Africa. This includes strategic investments and associations in various industries supporting the developmental finance chain, from taxi finance to logistics, credit solution services, supply of parts, and vehicle servicing.
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1 August 2023
Ventures Platform leads Traction App funding round
Micro, small, and medium-sized firms (MSMEs) constitute the backbone of the Nigerian economy, accounting for more than 60% of GDP growth and playing a crucial role in job creation. According to the National Bureau of Statistics, there are over 39 million such firms, and 87% operate informally, meaning they primarily receive cash and perform activities on paper.
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1 August 2023
FMO invests US$20mn in Starsight Premier Energy
Adiwale Fund I and Investisseurs & Partenaires (I&P), through its fund IPAE 2, announced the acquisition of a majority stake in VRS Africa. The company offers operational car leasing and fleet management services for corporate clients.
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1 August 2023
AFC invests to transform petroleum transportation in Uganda
Africa Finance Corporation (AFC), the leading infrastructure solutions provider on the continent, today announced its investment in Mahathi Infra Uganda Limited, one of East Africa’s largest oil and gas downstream players.
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31 July 2023
IFC invests in Metier to boost growth of mid-market companies in sub-Saharan Africa
To support the growth of mid-market companies in sub–Saharan Africa, IFC today announced an equity investment of US$25m in Metier Capital Growth Fund III (MCGF III) as well as a co-investment envelope of US$15mn to invest alongside the fund in select companies.
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25 July 2023
AfricInvest’s MPEF IV exits Promamec
Casablanca, July 24, 2023 – AfricInvest is pleased to announce its exit from Promamec, a Moroccan pioneer in the production and distribution of medical devices for the public and private sectors. Founded in 2000, the company has steadily grown to become one of the Moroccan leaders in the provision of a diverse range of medical devices. Thanks to its innovative strategy and dedicated teams, Promamec engaged in exclusive partnerships with several internationally renowned brands allowing the company to cover a wide spectrum of medical specialties.
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19 July 2023
Ventures Platform leads $1.25M pre-seed investment in MyCover.ai
Mycover.ai the insurtech startup building Africa’s digital insurance infrastructure, has announced the close of a $1.25 million pre-seed funding round, today, led by Ventures Platform.
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15 July 2023
Norfund invests in manufacturing and recycling business in Ghana
The Norwegian Investment Fund for Developing Countries (Norfund) is investing USD 10.5 million in Miniplast Ghana Ltd (“Miniplast”) to support its expansion plans across its manufacturing and recycling segments.
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13 July 2023
IFC invests in Amethis Partners’ fund to support African medium-sized businesses
Nairobi, Kenya, July 11, 2023—To support the development of medium-sized companies in Africa across a range of sectors, IFC today announced an investment in the first close of Amethis Partners' Amethis Fund III.
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13 July 2023
British International Investment (BII) back 14Trees to accelerate the provision of innovative green building solutions across Africa
Joint venture between Holcim and British International Investment (BII) looks to accelerate access to 3D construction printing from Africa to the world
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10 July 2023
Amethis announces the first closing of Amethis Fund III at €140mn
Amethis and Edmond de Rothschild Private Equity announce the first closing of Amethis Fund III at €140 million. The fund will invest with impact in mid-sized companies in the most diversified economies of the African continent. 
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7 July 2023
Verod exits CSCS Nigeria
CSCS is a financial market infrastructure platform and is the sole licensee for the central depository and settlement of transactions on the Nigerian Exchange Limited ("NGX"), amongst others.
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7 July 2023
African Development Bank invest in BluePeak Private Capital Fund
The Board of Directors of the African Development Bank Group has approved an $11 million equity investment in BluePeak Private Capital Fund toward its $155 million target for final close. The investment advances the Bank’s goal of supporting mid-size firms, including in the pharmaceuticals, agribusiness, manufacturing, and logistics sectors, across Africa.
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7 July 2023
Flat6Labs and Seedstars International Ventures back Egypt’s Agel in pre-seed funding round
Agel, Egypt’s first and only Islamic FinTech, has announced today that the company has successfully closed the pre-seed round for undisclosed seven-digit figures. The investment round was led by leading MENA-focused venture capital firms, Plus Venture Capital (+VC), Seedstars International Ventures, Flat6labs, with participation from SEEDRA Ventures, Banque Misr Acceleration Program, and prominent angel investors. 
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30 June 2023
Verdant Capital funds Patasente Uganda
Verdant Capital is pleased to announce a revolving credit facility for Patasente Uganda (“Patasente”), a digital trade services platform for farmers, warehouses, and factories. The facility will be used to support Patasente’s invoice discounting and supplier financing activities. “Patasente” is a local Swahili and Luganda word that means “Get Money”.
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30 June 2023
Verod-Kepple Africa Ventures (VKAV) Invests $1.5M in Chari
Lagos, Nigeria - 29 June 2023: Verod-Kepple Africa Ventures ("VKAV") is pleased to announce its investment of US$1.5 million in Chari, a Morocco-based B2B e-commerce company, to support its growth plan. Simultaneously, Ryosuke (Rio) Yamawaki, Partner at VKAV, has been appointed as a Strategic Advisor to the company, reinforcing their commitment to transforming the informal retail sector and driving economic growth in the region.
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29 June 2023
Aruwa Capital Management invests US$2mn in Fastizers: an indigenous snack food and confectionery manufacturing company
Aruwa Capital Management (“Aruwa”), an early-stage growth equity and gender lens fund investing in Nigeria and Ghana is pleased to announce a $2 million investment into Fastizers (the “Company”), a local manufacturer of snack foods and confectioneries in Nigeria.
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26 June 2023
Norfund invests in OH Ecosystems to create jobs in cocoa processing in Nigeria
Norwegian Investment Fund (Norfund) has invested $12 million in the Local Nigerian Cocoa Processing Business with the aim to create jobs in Nigeria, while addressing some of the challenges in the cocoa value chain.
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16 June 2023
Proparco supports innovation for traditional retailers in Senegal
On the occasion of the Viva Technology trade show, Proparco and Digital Africa are reaffirming their support for "Made in Africa" companies, by granting financing, through the Bridge Fund by Digital Africa, to the Senegalese start-up Maad.
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15 June 2023
Aruwa Capital Management invests in OmniRetail
Aruwa Capital Management (“Aruwa”), an early-stage growth equity and gender lens fund investing in Nigeria and Ghana is pleased to announce an investment into OmniRetail, popularly known as OmniBiz (the “Company”), a tech-first B2B e-commerce company that aggregates end-to-end retail operations to help manufacturers, distributors, logistic partners, and retailers achieve their business goals through a seamless supply chain framework and embedded finance.
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8 June 2023
IFC announces investment in Safaricom Ethiopia
LONDON, United Kingdom, June 8, 2023 – IFC and MIGA — members of the World Bank Group — today announced an equity investment, a loan and guarantees to support the ongoing construction and operation of Safaricom Ethiopia's greenfield telecommunications network across Ethiopia, leading to more affordable internet, reliable mobile connectivity and technology access for people and businesses in the country.
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6 June 2023
Convergence Partners backs Yellow’s latest Series B funding round
Convergence Partners has announced the closure of its investment in Yellow, a provider of pay-as-you-go finance for off-grid solar home systems and connectivity solutions for low-income consumers in parts of East Africa.
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5 June 2023
IFC invests in South Sudan hotel
Abidjan, Côte d'Ivoire, June 5, 2023 – To support the development of South Sudan's tourism infrastructure, IFC today announced an investment in Dembesh Hotel in Juba that will help finance the hotel's renovation and expansion, creating jobs during and after the construction phase.
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5 June 2023
IFC supports largest pharmaceuticals factory in Côte d’Ivoire
Abidjan, Côte d'Ivoire, June 5, 2023—To support stronger healthcare outcomes in West Africa, IFC today announced a partnership with the Shanghai Fosun Pharmaceutical (Group) Co., Ltd. to help the company build a pharmaceuticals production facility and distribution hub in Côte d'Ivoire.
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5 June 2023
IFC backs BUA to boost industrialisation in Northern Nigeria
Abidjan, Côte d'Ivoire, June 5, 2023 —IFC today made its largest-ever investment in northern Nigeria, providing a financing package alongside African and European partners to BUA Cement Plc to help the company part-finance and develop two new, energy-efficient cement production lines that will create up to 12,000 direct and indirect jobs.
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2 June 2023
BII, FMO, Norfund et al. jointly invest in Sun King
Adiwale Fund I and Investisseurs & Partenaires (I&P), through its fund IPAE 2, announced the acquisition of a majority stake in VRS Africa. The company offers operational car leasing and fleet management services for corporate clients.
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2 June 2023
Alitheia Capital's joint uMunthu II fund reaches €57mn first close
Goodwell Investments and its long-standing partner Alitheia Capital are proud to announce that a mixed group of investors are joining the journey to finance inclusive growth in Africa.
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31 May 2023
FSD Africa Investments backs Africa Climate Ventures
The investment represents the first institutional backing for the venture builder, which aims to assemble a portfolio of businesses focused on climate action across Africa, boosting continental participation in global carbon markets.
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29 May 2023
Proparco jointly provides €34 million to back development of new recycling facilities in Ghana and Senegal  
Proparco and OeEB, the Austrian DFI, join forces to provide a €34 million senior debt funding to Gravita Netherlands B.V. (GNBV), the overseas division head of Gravita India Limited (GIL). The group is a key player in the industrial recycling industry, especially in lead recycling, in India and overseas. Proparco and OeEB will support the international branch of GIL by increasing the recycling capacity and funding its daily needs.
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29 May 2023
IFC invests in the Africa Conservation and Communities Tourism Fund to Support Ecotourism, Conservation in Sub-Saharan Africa
Johannesburg, South Africa, May 29, 2023— To support the post-pandemic recovery and sustainable growth of sub-Saharan Africa's ecotourism sector, IFC today announced an investment in the Africa Conservation and Communities Tourism Fund (ACCT Fund).
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15 May 2023
IFC et al. invest in M-KOPA
IFC and fintech platform M-KOPA Holdings Ltd. today announced a partnership to expand its financial services to underbanked consumers in Eastern Africa, which will enable hundreds of thousands of women, lower-income customers, those in rural communities, and others in Kenya and Uganda, to purchase productive assets such as smartphones and home solar systems.
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4 May 2023
Proparco committed $5 million in DisrupTech
Proparco committed $5 million in DisrupTech, which aims to provide seed capital to up to 28 start-ups with prime focus on financial technology services. The fund raised $36 million from several investors, including Development Finance Institutions, Funds-of-funds and Family offices. It will be an important financing source for Egyptian tech companies, which often struggle to raise capital to bring their innovations to market.
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2 May 2023
Injaro Ghana Venture Capital Fund (IGVCF) raises GHS25mn
The Minerals Income Investment Fund (MIIF) and Injaro Investment Advisors Ltd (IIAL) are delighted to announce the decision by the management and Board of Directors of MIIF to commit GHS25M to the Injaro Ghana Venture Capital Fund (IGVCF) which is managed by IIAL. 
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25 April 2023
IFC invests in Avenue Group Ltd to expand healthcare services in Kenya
IFC today announced an investment in Kenyan healthcare provider Avenue Group Limited that will support the company's strategy to grow its healthcare offering and boost its patient reach by 20 percent across the country over the next five years.
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25 April 2023
IFC invests in Avenue Group Limited to expand healthcare services in Kenya
Nairobi, Kenya, April 25, 2023—IFC today announced an investment in Kenyan healthcare provider Avenue Group Limited that will support the company's strategy to grow its healthcare offering and boost its patient reach by 20 percent across the country over the next five years.
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24 April 2023
Request for an Expression Of Interest: CONSULTANCY TO CONDUCT A STUDY ON AFRICA AS A DOMICILIATION JURISDICTION FOR INVESTMENT VEHICLES AND FUNDS
Adiwale Fund I and Investisseurs & Partenaires (I&P), through its fund IPAE 2, announced the acquisition of a majority stake in VRS Africa. The company offers operational car leasing and fleet management services for corporate clients.
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14 April 2023
Helios exits Solevo
Helios Investment Partners is pleased to announce the completion of the sale of Solevo to a group of investors. The execution of Helios’ value creation strategy over the investment period significantly transformed the company into a leading distributor of specialty chemicals across the most important life sciences and industrial segments, driving the institutionalisation of the business and positioning it for continued growth.
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14 April 2023
Swedfund invests in solar energy
Swedfund invested USD 30 million on the 1stof March in the Mirova Gigaton Fund[1]. The main purpose of investing in the fund is to reach out to projects in developing countries, with debt financing through a wide range of important, complementary solar energy solutions outside the regular grid, so-called off-grid solutions.
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11 April 2023
EIB Global increases support for Moroccan companies under Tajawouz initiative
The European Investment Bank (EIB), through EIB Global, its new arm for development finance and international partnerships, has signed a finance contract with CaixaBank worth around MAD 330 million (€30 million) to increase support for Moroccan micro, small and medium-sized enterprises (MSMEs).
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6 April 2023
Standard Bank & IFC back Westfalia Fruit
To support the growth of the avocado industry in Africa, Asia, South America, and Europe, IFC, HSBC Bank, and Standard Bank today announced an investment in Westfalia Fruit International Limited to help the company expand sustainable avocado production at its existing facilities and explore opportunities in new markets.
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5 April 2023
AfDB approves US$49.92mn to Build a 30 MW Solar Photovoltaic Power Plant in Dekemhare
Dekemhare 30-megawatt photovoltaic solar power plant project in Eritrea. Amount: US$ 49.92 million grant comprising US$ 19.5 million from the African Development Fund (ADF-15) and US$ 30.42 million from the Transition Support Facility (TSF).
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3 April 2023
Old Mutual Alternative Investments Hybrid Equity announces investment in Enable Capital
Enable specialises in providing short-term funding solutions to subcontractors involved in the physical construction and deployment of local, regional and national fibre network infrastructure in SA.
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22 March 2023
IFC to Invest in Mediterrania Capital Partners’ Fund to Support African Mid-Cap Businesses
To support the development of medium-sized companies in Africa, with a special focus on firms run or led by women, IFC today announced that it will invest in the first close of Mediterrania Capital Partners' Mediterrania MC IV fund.
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21 March 2023
British International Investment commits EUR 20 million to The Urban Resilience Fund
British International Investment (BII), the UK's development finance institution (DFI) and impact investor, today announced a EUR 20 million commitment to The Urban Resilience Fund (TURF), launched by Meridiam. The investment is the DFI’s first investment in an urban infrastructure fund and supports the design and scale of climate-focussed infrastructure projects across sub-Saharan Africa - increasing the affordability, safety, reliability, and climate-resilience of public infrastructure in African cities.
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17 March 2023
Swedfund invests USD 5 million in Somali fund
Swedfund has decided to invest USD 5 million in NHAO (Nordic Horn of Africa Opportunities Fund). The amount is split into 2 tranches where the second tranche requires certain conditions to be met.
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16 March 2023
Renew Capital Angels Invest in Ugandan Eyewear Company, Wazi
The Renew Capital Angels have invested in Wazi Vision, a women-founded Ugandan company with a vision to change the eyewear industry in Africa. Founders Brenda Katwesigye Baganzi and Geogette Ochieng Ndabukiye launched Wazi in response to a gap in Uganda’s eyewear market.
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13 March 2023
Africa receives investment boost to develop water infrastructure
Metito Utilities Limited (MUL), a global investor and operator of water, wastewater, and alternative energy management solutions, and British International Investment (BII), the UK’s development finance institution and impact investor, announced the launch of their new company Africa Water Infrastructure Development “AWID”, a first-of-its-kind platform to develop climate-smart water projects at scale and to increase water security across Africa.
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8 March 2023
LeapFrog companies reach 200m women, as firm commits to IFC gender equality program
LeapFrog Investments, the profit with purpose investment firm, today announced that its financial services and healthcare businesses have now crossed the threshold of reaching over 200 million women and girls, providing essential springboards and safety nets to help them rise into a better standard of living.
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3 March 2023
Proparco Takes A Stake In Nuru, Which Develops Urban Solar Metrogrids in the DRC
Nuru SASU (Nuru), the company behind Democratic Republic of the Congo (DRC)’s first solar PV metrogrid, is on track to build 13.7MWp of isolated solar-hybrid grids by mid-2024 after securing an initial USD1.5 million from investors in a convertible note round ahead of the close of its Series B funding round.
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2 March 2023
IFC invests in 4DX Ventures Fund
Adiwale Fund I and Investisseurs & Partenaires (I&P), through its fund IPAE 2, announced the acquisition of a majority stake in VRS Africa. The company offers operational car leasing and fleet management services for corporate clients.
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2 March 2023
Kasada acquires Nairobi's former Crowne Plaza, with backing from IFC and Proparco
Kasada will use the financing package to refurbish, modernize, and expand the former Crowne Plaza in Nairobi's Upper Hill
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2 March 2023
500 Global announce scale up program in Egypt to support pre-series A startups
500 Global, one of the world’s most active multi-stage venture capital firms, and The Egyptian Information Technology Industry Development Agency (ITIDA), announced the launch of 500 Global first batch of the Scale Up program in Egypt. The Scale Up program is focused on providing strategies and experimentation methodologies to accelerate growth for Pre-Series A startups in Egypt.
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2 March 2023
Mediterrania Capital Partners, DEG, Proparco and FMO invest €75mn in Laprophan
Mediterrania Capital Partners, a Private Equity firm focused on growth investments for SMEs and mid-cap companies in North Africa and Sub-Saharan countries, is pleased to announce its acquisition of a stake in Laprophan – one of the leading pharmaceutical companies in Morocco –through its fund MC IV, alongside Germany’s development finance institution DEG, Proparco and FMO.
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2 March 2023
Helios Digital Ventures backs payment service provide Nomba
Nomba, a leading payment service provider for African businesses, has raised a $30 million Pre-Series B funding round to support the delivery of bespoke payment solutions for African businesses. The oversubscribed equity funding round was led by San Francisco-based Base10 Partners (investors in Nubank, Plaid and Brex), with participation from Helios Digital Ventures, Shopify, Partech and Khosla Ventures.
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2 March 2023
IFC provides US$50mn to M-KOPA
Nairobi, Kenya, May 15, 2023—IFC and fintech platform M-KOPA Holdings Ltd. today announced a partnership to expand its financial services to underbanked consumers in Eastern Africa, which will enable hundreds of thousands of women, lower-income customers, those in rural communities, and others in Kenya and Uganda, to purchase productive assets such as smartphones and home solar systems.
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2 March 2023
Swedfund invest additional USD$1.9mn to increase access to reliable and clean energy
Swedfund announced on December 29th, 2022 an additional investment in d.light (1.9mn USD). d.light is a company providing affordable off-grid solar electricity to people living without access to reliable and clean energy in Africa and India. Swedfund’s funding will be used for supporting the company’s further expansion.
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2 March 2023
LeapFrog grows climate investment strategy team
LeapFrog Investments, the profit with purpose investment firm, has expanded its Climate Investment Strategy Team with several new hires, as it seeks to support green growth opportunities for low-income consumers and producers across emerging markets.
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2 March 2023
EIB considers investment in startup fund
The European Investment Bank has disclosed a proposed equity participation of up to $20 million into Seedstars Africa Ventures 1, a closed-ended venture capital fund focusing on sub-Saharan Africa (primarily West and East Africa) and to a lesser extent on North Africa.
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2 March 2023
DWM Displaced Communities in line for EIB investment
The European Investment Bank (EIB) has disclosed a proposed $15 million equity investment in the Displaced Communities Fund, managed by DWM Asset Management, LLC.
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2 March 2023
Adiwale Fund I backs vehicle leasing company
Adiwale Fund I and Investisseurs & Partenaires (I&P), through its fund IPAE 2, announced the acquisition of a majority stake in VRS Africa. The company offers operational car leasing and fleet management services for corporate clients in Côte d’Ivoire, Senegal and Ghana. It currently operates a fleet of 800 vehicles and is managed by Jérôme de Villard, CEO since 2019.
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28 February 2023
BII invests in food business
British International Investment (BII), the UK's development finance institution (DFI) and impact investor, has announced a $50 million investment to Invictus Trading, a subsidiary of Invictus Investment and key partner handling the import activity for the DAL Group.
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14 February 2023
IFC leads US$17mn investment in South African insurtech Naked
Naked Insurance, a South African insurtech company that helps consumers to insure their cars, homes and valuables, has raised $17 million in Series B funding led by the International Finance Corporation (IFC).
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13 February 2023
Zephyr Acorn backs Power Financial Wellness
After working in Africa’s microfinance space for seven years, including at Botswana’s Letshego, Brian Dempsey took a break in 2020 to build Power Financial Wellness, operating out of Kenya.
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9 February 2023
€242m financing package for Senegalese cement maker
To support the decarbonisation of Senegal’s industrial sector, the IFC announced a partnership with Sococim Industries, Senegal’s largest integrated cement manufacturer, which will boost low-carbon cement production, create jobs and help bridge the country’s housing gap.
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6 February 2023
Oikocredit and Triodos IM provide € 10 million Tier II capital to Bridge Bank Group Côte d’Ivoire
The Ivorian bank, an affiliate of Bridge Group West Africa, finances local small and medium enterprises and supports job creation in the region.
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3 February 2023
Swedfund invests US$26mn in the African infrastructure fund AIIF4
On December 16, Swedfund invested USD 26 million in African Infrastructure Investment Fund 4 (AIIF4). It is an African infrastructure fund, managed by Africa Infrastructure Investment Managers (AIIM).
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2 February 2023
Convergence closes CPDIF at $296m
Convergence Partners has announced the successful closing of its Convergence Partners Digital Infrastructure Fund (CPDIF) at $296m, surpassing its initial target by over 18%.
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2 February 2023
Norfund invests in South African food ingredient producer
Norfund, the Norwegian development finance institution, is investing R80 million (about US$4.mn) in convertible debt in Synercore Holdings, a South African food ingredient manufacturer, formulator and distributor to fast-moving consumer goods companies in Africa.
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1 February 2023
DEG, IFC, Lightrock, et. al back South African SME lender, Lulalend
In most African countries, access to credit remains limited for many small businesses, with the reasons ranging from the inability to pay collateral and lack of credit history to unfavorable lending criteria and high-interest rates.
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1 February 2023
Renew Capital invests in Ethiopian audio book and podcast company
Renew Capital has recently invested in Teraki, an online audio platform based in Ethiopia, co-founded by Nahom Tsegaye and Abel Engida.The platform amplifies Ethiopia's rich tradition of storytelling by offering audiobooks and podcasts in various Ethiopian languages.
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1 February 2023
Mediterrania leads investment in Moroccan pharmaceutical company
Mediterrania Capital Partners (MCP), a private equity firm that focuses on growth investments in small and mid-sized African companies, recently led a consortium that invested in Laprophan, a pharmaceuticals company in Morocco.
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31 January 2023
Adenia Partners announces US$300mn first close for its fifth fund
Adenia Partners has announced the first close of its fifth flagship fund, Adenia V, with $300 million in commitments from investors.
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25 January 2023
Norfund backs Ethiopia's largest FMCG platform SAMANU
Norfund and a consortium of private investors managed by 54 Capital announced a $21 million growth capital investment into Ethiopia's largest FMCG platform SAMANU.
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25 January 2023
Kasada to invest in new Abidjan hotel
Kasada, a real estate private equity platform dedicated to hospitality in sub-Saharan Africa, announced that it will build a new dual-branded hotel in Abidjan within the largest retail-led mixed-use development currently being developed by HC Capital Properties (HCCP). The complex, scheduled to open in 2024, will boast over 150 hotel keys, a shopping centre with over 60 stores, restaurants, a mini entertainment park, offices, a co-working space, and a clinic.
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25 January 2023
AfricInvest Fund IV invests in Justrite
AfricInvest is pleased to announce it has taken a minority stake in Justrite, a leading Nigerian family owned retail department store.
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20 January 2023
South Africa: Proparco partners with Investec to scale up climate investments
Proparco and Investec Bank are collaborating to implement the Transforming Financial Systems for Climate (TFSC) programme in South Africa. The package comprises a senior credit facility of $80 million and a technical assistance programme.
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18 January 2023
Aruwa makes follow-on investment in AgroEknor
Aruwa Capital Management, an early-stage growth equity and gender lens fund investing in Nigeria and Ghana has made a follow-on investment in AgroEknor International, a fast-growing hibiscus flower exporter and wellness brand.
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17 January 2023
EIB invests in WeLight Madagascar’s access to energy initiative
WeLight Madagascar’s access to energy initiative will receive €19 million in financing from the EIB, Triodos Investment Management and EDFI ElectriFI — the EU-funded Electrification Financing Initiative. The financing will be used to build and develop small solar mini-grids in over 120 villages in rural Madagascar, expanding WeLight’s coverage from eight regions to 17. The project aims to serve around 250 000 people, providing more than 45 000 households and businesses with first-time access to clean, affordable and productive energy and light.
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13 January 2023
Norfund and Swedfund invest in South Sudan's SME sector
European development finance institutions Norfund and Swedfund have announced a $4 million follow-on loan to Kinyeti Venture Capital, a joint venture established in 2012 to provide risk capital to local small and medium enterprises (SMEs) in South Sudan.
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12 January 2023
Verod exits Daystar Power Group to Shell
Verod Capital Management via its Verod Capital Growth Fund II has fully exited from its investment in Daystar Power Group to Shell.
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11 January 2023
AfricInvest exits InstaDeep Ltd to BioNTech SE
Acquisition to enable creation of a fully integrated, enterprise-wide capability to discover, design and develop next-generation immunotherapies at scale by leveraging artificial intelligence and machine learning technologies across BioNTech’s therapeutic platforms and operations Builds on multi-year strategic collaboration between BioNTech and InstaDeep which included the formation of an AI Innovation Lab in 2020 and completion of dozens of joint projects  Acquisition expected to add approximately 240 highly skilled professionals and a global network of research partners in the fields of artificial intelligence, machine learning and data science based in the world’s leading global technology hubs  BioNTech to pay an upfront consideration of approximately £362 million in cash and BioNTech shares, to acquire 100% of remaining InstaDeep shares following BioNTech’s Series B investment in 2022 InstaDeep to operate globally from London headquarters as a BioNTech company post-closing, which is expected in the first half of 2023, subject to regulatory approval
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11 January 2023
FMO approves €25 million investment in Partech fund
The Dutch entrepreneurial development bank, FMO has approved a €25 million investment in the Partech Africa Fund Il.
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9 January 2023
Aruwa Capital makes follow on investment in Agroeknor
Aruwa Capital Management (“Aruwa”), an early-stage growth equity and gender lens fund investing in Nigeria and Ghana is pleased to announce a follow-on investment into AgroEknor International (“AgroEknor” or the “Company”), a fast-growing hibiscus flower exporter and wellness brand.
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6 January 2023
FMO provides funding for motorcycle financing in Kenya and Uganda
Dutch development finance institution FMO has provided a US$15 million and US$5 million senior term loan to Wat Credit Kenya and Wat Credit Uganda, respectively.
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3 January 2023
Oikocredit, Lion's Head funds back Solarise Africa
Dutch impact investor Oikocredit has partnered with Lion's Head Group-managed funds, the Facility for Energy Inclusion (FEI) and AfricaGoGreen (AGG), to invest $7 million in a $33.4 million multi-currency loan facility for Solarise Africa. The investment will support Solarise Africa's growing provision of affordable commercial and industrial (C&I) solar installations in Africa.
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3 January 2023
EIB commits €300m to EM fund-of-funds
The European Investment Bank has disclosed a €300 million contribution to the launch of the new Global Gateway Fund (GGF). GGF is a flagship initiative supporting the EU's Global Gateway strategy, operating as a fund-of-funds focused on high impact equity and debt operations in emerging markets.
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29 December 2022
Mediterrania exits Morocco's Akdital through an IPO
Mediterrania Capital Partners has sold part of its stake at Akdital through an IPO at the Casablanca Stock Exchange.
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26 December 2022
Seedstars Africa Ventures et al. invest in Egypt's Suplyd
Suplyd, an Egypt-based startup that digitises supply chain operations for the MENA region’s hotels, restaurants, and catering (HORECA) industries, has raised a US$1.6 million pre-seed funding round to help it scale faster.
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21 December 2022
Samata Capital, Future Africa et al. Invest in Uncover
Africa’s beauty and personal care market is growing, accelerated by its burgeoning young and fashion-conscious population, increased spending power and urbanization. The market’s potential has in recent years attracted major brands, with Fenty Beauty by Rihanna and LVMH being the latest entrants.
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20 December 2022
Verod Capital Management Exits Daystar Power Group to Shell
LAGOS, NIGERIA – 20 December 2022: Verod Capital Management Limited (“Verod”), one of Africa’s leading investment management firms, is pleased to announce that itsVerod Capital Growth Fund II has fully exited from its investment in Daystar PowerGroup (“Daystar”) to Shell Plc (“Shell”).  
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16 December 2022
LeapFrog Investments invests US$70mn in Sun King
Debevoise & Plimpton LLP has advised LeapFrog Investments (“LeapFrog”) as lead investor in Sun King’s $70 million equity investment round, part of an extension of its initial $260 million Series D round.
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16 December 2022
Mediterrania Capital Partners exits Akdital through an IPO at the Casablanca Stock Exchange (CSE)
Akdital, with the support of Mediterrania Capital Partners, has provided the largest IPO at the CSE since 2008. The national leader in the private clinic sector is the first healthcare company traded in the capital market in Morocco.
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15 December 2022
British International Investment backs Zambian climate entrepreneurs
$50 million credit line provided to Zambia National Commercial Bank in a boost for small businesses and climate-related projects in Zambia 
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13 December 2022
Baylis invests in Legendary Foods Africa
GHANA – Legendary Foods Africa, a Ghanaian foodtech company focused on production of insect protein for human consumption, has bagged a growth equity investment from an Africa focused private equity firm, Baylis Emerging Markets.
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13 December 2022
Sahel Capital successfully achieved the mandate of FAFIN in L&Z Integrated Farms Limited and Exits
Sahel Capital has exited L&Z Integrated Farms Limited, an integrated dairy processing company in Nigeria.
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12 December 2022
Aruwa Capital Management invests US$2.5mn in Taeillo
Individuals or businesses buying furniture in Africa can purchase from local furniture stores or global furniture retailers like Ikea. But both options have pros and cons; for the latter, local furniture stores may lack the quality that clients need, while global retailers, in addition to taking several months to ship their products to Africa, can be too pricey. 
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5 December 2022
Female founded and led Aruwa Capital Management achieves final close on Fund I
Oversubscribed fund secures large backing from global institutional LPs Aruwa Capital Management (“Aruwa” or “Aruwa Capital”), a Lagos based female founded and led early-stage growth equity and gender lens investment fund, is pleased to announce the successful close of its first institutional fund, which was oversubscribed, surpassing its target of $20 million. The fund’s first institutional and anchor investor is Visa Foundation, followed by other investors such as Mastercard Foundation Africa Growth Fund, Nyala Venture, backed by Financial Sector Deepening Africa Investments and leading family businesses from Africa, Europe and the United States.
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2 December 2022
Kenya’s Uncover raises $1M to expand skincare product enterprise across Africa
Africa’s beauty and personal care market is growing, accelerated by its burgeoning young and fashion-conscious population, increased spending power and urbanization. The market’s potential has in recent years attracted major brands, with Fenty Beauty by Rihanna and LVMH being the latest entrants.
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2 December 2022
TPG-backed Evercare’s stake in Nairobi-based hospitals
KENYA – The Evercare Health Fund has sold its 54.9 per cent stake in Metropolitan Hospital Holdings to co-investor, The Metro Group, which currently holds a 41.8 per cent stake in the company.
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