Private Equity |

Actis sells remaining stake in Umeme via capital markets offering

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…

Safa Afrique raised capital for diamond mining in West Africa

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CONAKRY (Capital Markets in Africa) – Citigate International Ltd has announced the successful closing of Safa Afrique with $10 million raised from GCC investors. These funds will be deployed for Safa Afrique’s diamond mining portfolio which primarily consists of its flagship project in Sierra Leone as well as two joint venture projects in Guinea and Liberia with Stellar Diamonds plc, a London listed (AIM: STEL) company. Work on the project will begin immediately with activities…

Dutch Private Equity invests in Kenya-based dairy company

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NAIROBI (Capital Markets in Africa) – DOB Equity has announced today that it has taken up a stake in Countryside Dairy Ltd at a publicly undisclosed value as part of a commitment to increase social impact investment deals in Kenya. By investing in Countryside Dairy Ltd, the Private Equity fund with offices in Kenya, Tanzania and the Netherlands will be seeking a slice of the KES100bn Kenya Dairy sub-sector. According to the Kenya National Dairy Master…

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