Private Equity |

Quantum Global’s Hotel Fund Acquires Mövenpick Ambassador Hotel Accra

ACCRA (Capital Markets in Africa) – QG Africa Hotel LP, a Mauritius-based investment fund managed by Quantum Global Investments Africa Management Ltd., today announced the acquisition of the Movenpick Ambassador Hotel Accra from Kingdom Holding Company (KHC). The transaction which closed on 28 December 2016 marks the most sizable open-market hotel transaction in Sub-Saharan Africa to date. Complementing Quantum Global’s already significant African investment portfolio the value proposition of this transaction is underpinned by its…

AfricInvest invests in Azalaï Hotels SA

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TUNIS (Capital Markets in Africa) – AfricInvest III LLC, a fund managed by AfricInvest Group has completed a EUR17.3mn equity investment in Azalaï Hotels SA, the holding company of one of the main Pan-African hospitality groups in the ECOWAS region with nine hotels representing a total capacity exceeding 1000 rooms. “AfricInvest is partnering with Azalaï for the implementation of the group’s regional growth strategy, focusing on three main areas: (i) regional expansion, (ii) increased capacity,…

Actis sells remaining stake in Umeme via capital markets offering

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NAIROBI (Capital Markets in Africa) – Actis, a leading growth markets investor, today announced a full exit of its remaining 14.3% stake in Uganda’s principal electricity distribution and supply business, Umeme Ltd, via the Ugandan and Kenyan capital markets. Actis originally invested in Umeme when it was privatised in 2005 and has now fully exited its stake following a planned phasing of the process. In November 2012, UHL sold 39.9% of its stake in Umeme…

Helios Investment Partners acquires 49% stakes in Oando’s Subsidiary

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LAGOS (Capital Markets in Africa) – Oando PLC (referred to as “Oando” or the “Group”), Nigeria’s leading indigenous energy group listed on both the Nigerian and Johannesburg Stock Exchange, has announced the completion of a partial divestment of 49% of the voting rights in Oando’s midstream business subsidiary, Oando Gas and Power Limited (“OGP”), to Glover Gas & Power B.V., a special purpose vehicle owned by Helios Investment Partners LLP (“Helios”), a premier Africa-focused private…

Life Healthcare to Fund Alliance Deal With $756 Million Offer

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JOHANNESBURG (Capital Markets in Africa) – Life Healthcare Group Holdings Limited. plans to raise as much as 10.7 billion rand ($756 million) through a rights issue as the South African company seeks to reduce debt after it expanded into the U.K. market. The fully underwritten offer will cut Life Healthcare’s debt to “the appropriate level of gearing for the company to restore its investment grade credit rating,” the Johannesburg-based owner of private hospitals said in a statement on…

Gulf Capital closes $250m private debt fund

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LAGOS (Capital Markets in Africa) – UAE-based alternative investment firm Gulf Capital has closed a $250 million (AED925m) debt fund, it said on Monday. The Gulf Credit Opportunities Fund II is Gulf Capital’s second private debt and mezzanine fund. The fund, which follows a similar investment and diversification strategy as its predecessor (Fund I), will invest in mid-market companies across the Middle East, Turkey, and Africa region that generates over $5m (AED18.35m) in earnings before…

Algebra Ventures in Egypt hits $40m mark

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CAIRO (Capital Markets in Africa) – Algebra Ventures has completed a US$40-million first closing. Algebra claims that it’s the largest tech VC fund in Egypt. According to a press release sent to Ventureburn, the fund will invest in up 25 tech startups or “tech-enabled” start-ups. Focus areas include “technology IP, fintech, industry platforms, e-commerce and consumer internet”, Algebra explained. As for funding amounts, Algebra confirmed that investments would mostly be in the range of US$500…

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