The Fundamental Role of Private Equity

The Fundamental Role of Private Equity

LAGOS (Capital Markets in Africa) – Investments by private equity funds into companies hold great benefits besides the provision of capital. Private equity investments have a considerable impact in terms of productivity, skills development, job creation, and social impact, as it includes the transfer and exchange of know-how, access to a broader network, and not merely the flow of capital. Private equity fund managers play an active role in managing their investments in companies, with…

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Private equity investment in Africa: The Art of managing expectations

Private equity investment in Africa: The Art of managing expectations

LAGOS (Capital Markets in Africa) – In most private equity gatherings one conclusion is always drawn: Investors and entrepreneurs are not finding each other in sufficient numbers, and I think the facts do speak for themselves.  According to the latest EAVCA survey of the PE industry in 2018 only 47 deals were done in East Africa. Looking at the number of entrepreneurs and investment funds, I would think we should have done better! Entrepreneurs say:…

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Alexander Forbes to Soon Announce Sale of Its Insurance Unit

Alexander Forbes to Soon Announce Sale of Its Insurance Unit

JOHANNESBURG (Capital Markets in Africa)  – Alexander Forbes Group Holdings Ltd. plans to announce the buyer and price of its short-term insurance business by the end of July as the South African retirement-services provider streamlines operations in a new strategic push. “There was massive interest,” Chief Executive Officer Dawie de Villierssaid by phone Tuesday, declining to identify bidders. “We’re in the final stretch with the shortlisted candidates and are negotiating with them.” The company is also exiting…

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IFC to Sell 14% Ecobank Stake to Dutch Investment Company Arise

IFC to Sell 14% Ecobank Stake to Dutch Investment Company Arise

LAGOS (Capital Markets in Africa) – The International Finance Corp., a unit of the World Bank Group, agreed with funds managed by IFC Asset Management Co. to sell their 14.1% stake in Ecobank Transnational Inc. to Dutch company Arise BV, the Lome, Benin-based lender said. The transaction will be completed “in the coming months” subject to approval by regulators, Ecobank said in statement published Monday on the website of the Nigerian Stock Exchange. The bank, which operates in about 30 African…

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Private Equity in Africa: The Myth of the Weak Exit Environment

Private Equity in Africa: The Myth of the Weak Exit Environment

LAGOS (Capital Markets in Africa) – Africa’s steady rise continues to attract a growing number of private equity (PE) investors who believe that African markets offer an exciting growth and investment opportunity. Some of the key drivers underpinning this growing perception among investors include improvement in the business environment, fiscal reform and sound economic policies, technological advancement, regional integration, and improved cooperation between the public and private sector. From an external perspective, the improving global…

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Africa’s Biggest Fund Manager Is Said to Court Banker for CEO

Africa’s Biggest Fund Manager Is Said to Court Banker for CEO

JOHANNESBURG (Capital Markets in Africa) – Africa’s largest fund manager is said to be considering financial services executive Kennedy Bungane to head the institution, according to people familiar with the matter. Responsible for most South African government workers’ pension funds, the Public Investment Corp. is being probed over allegations of wrongdoing that are currently a subject of a judicial commission of inquiry and resulted in a host of senior departures, including that of Chief Executive Officer Dan Matjila….

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Acumen Closes $70 Million Impact Fund for Clean Energy in Africa

Acumen Closes $70 Million Impact Fund for Clean Energy in Africa

NAIROBI (Capital Markets in Africa) – Jacqueline Novogratz’s impact investing group closed an almost $70 million fund to back companies delivering affordable and renewable energy to mostly poor consumers in East Africa. KawiSafi Ventures seeks to bring clean energy to 10 million people with investments in fast-growing companies while also making competitive returns, according to a statement Tuesday from Acumen, a New York-based nonprofit founded by Novogratz. Early investors in the fund include TED curator Chris…

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