Member News

Mediterrania Capital Partners has sold part of its stake at Akdital through an IPO at the Casablanca Stock Exchange.

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.

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.

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”).  

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.

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.

$50 million credit line provided to Zambia National Commercial Bank in a boost for small businesses and climate-related projects in Zambia 

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.

Sahel Capital has exited L&Z Integrated Farms Limited, an integrated dairy processing company in Nigeria.

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. 

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.

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.

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.