Private Equity |

Maiden investment into CAL Bank in Ghana by Arise set to advance economic growth

CAPE TOWN (Capital Markets in Africa) — The recent acquisition of a 27.7 % stake in CAL Bank in Ghana by the newly formed investment company, Arise (www.AriseInvest.com) is set to boost the banking sector in the country. The shareholding in CAL Bank was acquired by Arise from DPI, a leading Africa-focused private equity firm with assets in excess of US$1 billion under management. The settlement is to be effected on 14 February 2017. Arise,…

AFC makes maiden $205m mining investment in Guinea-Conakry

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LAGOS (Capital Markets in Africa) – An international consortium including Africa Finance Corporation (AFC) is set to invest in Alufer Mining Limited to fund the development of Guinea-Conakry’s high grade bauxite reserves. The US$205 million deal will be one of the largest foreign investments in the country since the 2014 Ebola crisis. Once complete, the project will increase production levels in line with global demand, which at present outpaces supply. Currently, there is a greater…

Carlyle takes majority stake in CMC Networks

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Johannesburg (Capital Markets in Africa) – CMC Networks (CMC), Africa’s largest managed connectivity provider, today announced that The Carlyle Group (NASDAQ: CG), a Global Alternative Asset Manager, has acquired a majority shareholding in the company/ CMC. The transaction value exceeds $100 million (R1.4 billion) and Carlyle’s investment will give them a majority shareholding. Further financial details of the transaction were not disclosed. Founded in 1989, CMC has the largest managed connectivity network in Africa, with…

Mediterrania Capital Partners’ Portfolio Companies deliver 64% Cumulative EBITDA growth

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Malta/Barcelona (8 February 2017). Mediterrania Capital Partners, the regional Private Equity firm focusing on growth investments for companies in North African and Sub-Saharan countries, announces that MC II’s portfolio companies delivered 64% Cumulative EBITDA growth since 2014. Until December 2016, while under Mediterrania Capital´s tenure, the Cumulative EBITDA of MC II´s Portfolio Companies reached €53 million, up 64% since 2014. In addition, Cumulative Revenues reached €340.8 million – a 63% growth rate – and Cumulative…

Fairfax Financial Holdings to Raise $500 Million for Africa Fund

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LAGOS (Capital Markets in Africa) – Prem Watsa’s Fairfax Financial Holdings Limited is expected to raise about $500 million for its new African investment fund, attracting less than its original goal as investor interest in the region proved weaker than anticipated, according to people familiar with the matter. The Toronto-based insurer sought to raise as much as $1 billion at $10 a share for Fairfax Africa Holdings Corp. in an initial public offering on the Toronto Stock Exchange, according…

European-Backed Fund Arise Targets $1 Billion of African Assets

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LAGOS (Capital Markets in Africa) – Arise, the new development-finance venture created from the pooled sub-Saharan African assets of three European lenders, said it plans to buy minority stakes in companies across the continent as part of a strategy to boost assets to $1 billion from $660 million. The company will target sub-Saharan African financial-service providers aimed at retail businesses, small- and medium-sized enterprises, rural areas and people who haven’t previously had access to banks and loans,…

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

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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…

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