Private Equity |

Stefanutti to Raise $74 Million for Black-Owned Coal Miners

JOHANNESBURG (Capital Markets in Africa) – Stefanutti Stocks Holdings Ltd., a South African construction firm, plans to raise a 1 billion-rand ($74 million) fund to invest in coal mining operators majority-owned by black investors. The building company is working in partnership with Africa-focused investment group Jaltech Financial Consultants to set up the JSS Empowerment Mining Fund and source the necessary capital from wealthy individuals, according to JSS money manager Gaurav Nair. Participants will receive a tax benefit on…

Canada’s Mawer Offers New Emerging Markets Equity Fund

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LAGOS (Capital Markets in Africa) – Mawer Investment Management Ltd. (Mawer) launched a new fund today, offering investors an opportunity to invest in emerging markets using Mawer’s time-tested investment approach: “Be Boring. Make Money™” Mawer has 30 years of experience investing in emerging markets within its International equity strategy and more recently in its global small cap and global equity strategies. The new Mawer Emerging Markets Equity Fund will be managed by Peter Lampert, CFA,…

Cytonn takes 25% stake in real estate developer Superior Homes, Kenya

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NAIROBI (Capital Markets in Africa) – Cytonn Investments acquired a 25 per cent stake in real estate developer Superior Homes, as it aims to grow its property portfolio in the Kenya market. The investment firm which has a Sh73 billion real estate portfolio sealed the deal yesterday by injecting Sh1 billion in Superior Homes, setting pace for mergers and acquisitions in the sector. The series of transactions as structured values Superior Homes at about Sh4…

ADvTECH acquires majority stake in University of Africa, Zambia

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LUSAKA (Capital Markets in Africa) – ADvTECH, Africa’s largest private education provider, is pleased to announce the acquisition of a 51% stake in the University of Africa (“UoA”). Following the International Finance Corporation’s (“IFC”) investment in the Group in 2016 to support its expansion strategy, this acquisition represents the Group’s first tertiary partnership outside of South Africa. A private distance-learning university based in Zambia, UoA has a rapidly growing student base from across the continent…

Home-grown African wealth funds seeking foreign partners to fix infrastructure gap

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LAGOS (Capital Markets in Africa) – Africa, famously short of new roads, ports and power stations, is increasingly leaning on its own sovereign investment funds to help fix its infrastructure gap. The funds – which have around $150 billion between them, according to research firm Preqin – are digging in themselves and offering co-investment opportunities and guarantees to attract foreign capital. The scale of the problem is huge – some 600 million Africans, or half the…

Pearl Capital Partners reaches first close for Uganda fund

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KAMPALA (Capital Markets in Africa) – The European Union (EU), the International Fund for Agricultural Development (IFAD) and the National Social Security Fund (NSSF) are working together to catalyse investment in the agriculture value chain with the launch today of the Yield Uganda Investment Fund. An initial EUR12mn (UGX46bn) has been made available to provide much needed access to capital for small and medium agri-businesses in Uganda. This new impact Fund, being arranged by Deloitte…

Diamond Said to Mull Atlas Options Including Taking Private

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LONDON (Capital Markets in Africa) – Bob Diamond, co-founder of Atlas Mara Ltd., is weighing options including taking the sub-Saharan African bank acquirer private, people with knowledge of the plan said. One option being considered is to find an investor or private-equity vehicle to back such a move, one of the people said, asking not to be identified because the details are private. A merger with another financial institution with a presence in Africa is also being weighed,…

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