Finance | - Part 166

Private Equity | Global Investors Shows Strong Interest in Africa’s Real Economy

Cape Town, South Africa, Capital Markets in Africa -–– Despite the recent turmoil in which many African countries find themselves, global investors showed strong interest in investing in Africa’s real economy, as evidenced by the increase in private equity fund raising in 2015. Total value of Africa PE funding, by year of final close*, was US$ 4.3billion. This is according to Bright Africa, the ongoing research endeavour from Africa investment specialists, RisCura. Click here to download…

Private Equity | 8 Miles investment in Verde Beef Processing Ethiopia

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Addis Ababa, Ethiopia, Capital Markets in Africa: 8 Miles LLP, the pan-African Private Equity firm announced an investment in Verde Beef Processing PLC, an Ethiopian agribusiness that specialises in producing premium beef in Adami Tulu, Oromia in Ethiopia. The investment of new money will give 8 Miles a significant minority stake alongside the management team and founder investors. The financial details of the transaction have not been disclosed. Ethiopia has the sixth largest cattle population…

Private Equity | Catalyst Principal Partners Invests in Orbit Chemical Industries, Kenya

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NAIROBI, Kenya, Capital Markets in Africa: East Africa focused private equity firm Catalyst Principal Partners has announced its investment in Orbit Chemical Industries Ltd. The investment enables Orbit Chemical’s ambitious expansion plans by increasing capacity of its existing lines, extending its products range into new synergistic categories, and regionalization of its manufacturing capability, thereby supporting the strong growth of existing as well as new customers across Eastern Africa and beyond. Orbit Chemical is amongst the…

Infrastructure | Access Energy Developing a $200-Million Solar Plant in Nigeria

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Lagos, Nigeria, Capital Markets in Africa — Access Energy Group, a Dubai-based renewable energy company, is developing a 100-megawatt solar project in northern Nigeria. The plant will be in the Kaduna state, north of the capital of Abuja. It is expected to cost around $200 million and be built in two phases of 50 megawatts, Reda El Chaar, the company’s managing director, said in an interview in London. The project is fully licensed and Access Energy…

Private Equity | Abraaj Plans $400 Million African Health-Care Pool

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LAGOS, Nigeria, Capital Markets in Africa — Emerging markets investor The Abraaj Group is trying to raise $400 million for a fund to invest in African health-care businesses, according to documents from an investor. Abraaj Growth Markets Health Fund Africa will invest alongside the Abraaj Growth Markets Health Fund, according to a report from the African Development Bank. The Dubai-based firm is trying to gather $1 billion for the latter and has closed on $500 million so far,…

South Africa Pension Funds Neglecting Private Equity Investments

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Johannesburg, South Africa, Capital Markets in Africa — South African pension funds have mostly ignored investing in private equity because trustees aren’t familiar with the asset class despite rule changes five years ago allowing larger investments, according to bodies representing both parts of the industry. About 2.3 percent of the country’s $234 billion retirement pool in 2014 was invested in private equity, the Southern Africa Venture Capital and Private Equity Association said in a report on Tuesday, citing…

Private Equity | CDC Group Plc Acquires a 10.7% Stake in I&M Holdings, Kenya

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NAIROBI, Kenya, Capital Markets in Africa: CDC Group plc (CDC), the UK’s development finance institution, has announced it will take a 10.68 per cent equity stake in the Nairobi-headquartered banking group I&M Holdings (IMHL). The investment underlines CDC’s commitment to supporting lending to small and medium sized enterprises (SMEs) in East Africa. Founded in 1974, IMHL’s commercial banking operations in Kenya rank in the country’s top ten, serving more than 100,000 customers. Having embarked on…

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