Finance | - Part 168

Private Equity | Mediterrania Capital Partners invests in CIEPTAL CARS, Algeria

Algiers, Algeria, Capital Markets in Africa: Mediterrania Capital Partners, the regional private equity firm focusing on growth investments for SMEs in North Africa and Sub-Saharan countries, announces the acquisition of a 43% stake in Cieptal Cars through its second fund Mediterrania Capital II (“MC II”). Founded in 2006, Cieptal Cars is a privately-owned company that specializes in the long-term car rental business. The company is the current market leader in Algeria. It owns a large, young fleet of 761 cars and…

Private Equity | Helios scores first for Africa fund with Crown Agents deal

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LONDON, Capital Markets in Africa: Helios, the pan-African investment firm, is set to deliver a postcolonial turnround with a deal for key divisions of Crown Agents — a company which was once a pillar of the British empire. The deal for Crown Agents Bank and its sister asset management company, for an undisclosed sum, marks the first time an African-managed fund has won approval from regulators to acquire a UK financial institution. Helios is one…

Finance | IFC, EIB and Ecobank Partner to Boost SME Finance across Africa

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Abidjan, Cote d’Ivoire, Capital Markets in Africa — International Finance Corporation (IFC), a member of the World Bank Group, the European Investment Bank (EIB) and Ecobank Transnational Incorporated (ETI), parent company of the Ecobank Group and leading pan-African full-service banking group, today signed a landmark risk-sharing agreement that will help fill the gap in financing for small and medium sized enterprises in some of Sub-Saharan Africa’s poorest and most fragile countries. Under the agreement, EIB,…

Private Equity | Africinvest invests in MicroKing Finance Zimbabwe

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Harare, Zimbabwe, Capital Markets in Africa — Microcred Group (Microcred) and AfricInvest Financial Sector Fund (AfricInvest) are pleased to announce they have reached an agreement to acquire a 100% ownership stake in MicroKing Finance (Private) Limited (MicroKing), a leading provider of microfinance products and services in Zimbabwe. The transaction is pending final regulatory approval. Microcred, a leading innovative financial institution focused on financial inclusion in Africa & Asia, and AfricInvest, a pan-African private equity fund manager,…

Infrastructure | The Abraaj Group launches energy development arm dedicated to Global Growth

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London, United Kingdom, Capital Markets in Africa — The Abraaj Group (“Abraaj”), a leading investor operating in global growth markets, today announced the formation of a dedicated project development arm to further extend its investment capabilities in the energy infrastructure space. As a member of The Abraaj Group, Themis Energy (“Themis”) will leverage the Group’s local teams, global network, execution capabilities and existing infrastructure team to originate, develop and manage projects from concept stage to operations….

South Africa | Old Mutual’s Breakup Adds to South Africa Financial Market Woes

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Johannesburg, South Africa, Capital Markets in Africa: Old Mutual Plc’s plan to separate its four businesses adds further uncertainty to South Africa’s financial-services industry, which is already under pressure after Barclays Plc’s decision to reduce its ownership in the country’s third-largest lender. While Old Mutual said it will spin off its 54 percent controlling stake in Johannesburg-based Nedbank Group to shareholders, it was short on details about plans for its emerging-market business, which is run from South Africa, as well as its U.S.-based OM Asset Management business and…

Africa Internet Group, parent of Jumia, secures over €300M funding

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LAGOS, Nigeria, Capital Markets in Africa —- Africa Internet Group, the parent company of Jumia the online retailer, has secured over €300M in funding. This new round of investment is led by existing investors including MTN and Rocket Internet as well as a new investor, Goldman Sachs. In a statement, AIG said that the funds will significantly strengthen its balance sheet, enabling the company to leverage the significant growth of Jumia and to capitalise on…

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