Private Equity |

Private sector crucial to overcoming Africa’s critical investment gaps

ABIDJAN (Capital Markets in Africa) — The African Development Bank Group’s governors (www.AfDB.org) will address three strategic challenges when they meet next month for the group’s Annual meetings, the group’s Secretary General Vincent Nhemielle said during a news conference held on April 20. The challenges confronting Africa in the coming year are: financing a low carbon development path that delivers growth and inclusivity and the continent’s climate goals; placing climate adaptation at the heart of…

Convergence Partners closes $10m investment in 42Markets Group

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Mauritius (Capital Markets in Africa) – Convergence Partners has announced the acquisition of a strategic stake in 42Markets Group, an incubator, investor and builder of high-growth specialist businesses in the financial and capital markets sector. The introduction of Convergence Partners as new investors will enable the 42Markets Group to accelerate growth through the buildout of its product set and further geographic expansion. The investment is through its Convergence Partners Digital Infrastructure Fund (CPDIF), a $296m…

Cassava Technologies pledges R4.5bn investment into the South African economy

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JOHANNESBURG (Capital Markets in Africa) – Cassava Technologies (www.CassavaTechnologies.com) has pledged a total of R4.5 billion in investment in South Africa through its business units – Liquid Intelligent Technologies, Africa Data Centres and Distributed Power Africa. The announcement was made during the fifth South Africa Investment Conference (SAIC) in support of SA President Cyril Ramaphosa’s initiative to drive investment into the country. Through this investment, Cassava, which has operations in Africa, the Middle East, Europe,…

Angola: The Destination of Choice for Investors

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LUANDA, Angola, March 22, 2023/ — The Angola Oil & Gas (AOG) conference and exhibition represents the country’s premier event for the oil and gas industry. International Conference Director for the 2022 edition of the conference, Miguel Artacho, provides insight into AOG 2022, what can be expected this year and what makes the Angolan energy market so attractive. What made the third edition of AOG stand out from previous events? It was even more successful!…

Enabling financial inclusion in Africa: Impact investor Nordic Microfinance Initiative

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NAIROBI, Kenya, February 22, 2023/ — Abler Nordic (https://www.AblerNordic.com) is the new name of Nordic Microfinance Initiative, a public-private partnership investing in companies in Sub-Saharan Africa and Asia supporting low-income households with financial services. The new name was launched locally at an event in Nairobi on February 21 by Managing Director Arthur Sletteberg, along with the announcement of the start of fundraising for their latest Fund V in 2023. “Sub-Saharan Africa is one of our…

AfricaGoGreen Fund Closes $47M in new equity Investments to Advance Climate Resilience in Africa

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ABIDJAN, Ivory Coast, February 17, 2023/ — The AfricaGoGreen Fund (AGGF) has made headlines today with the announcement of its successful second fundraising close, securing $47 million in combined investments from top financial organizations, including the International Finance Corporation (IFC), the African Development Bank (AfDB) (www.AfDB.org), the Nordic Development Fund (NDF), and the Sustainable Energy Fund for Africa (SEFA). The funding will allow AGGF to broaden its financing for climate-friendly projects in Africa, including…

Mauritius Group Buys IFC Stake in Kenyan Largest Retailer Naivas

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LAGOS (Capital Markets in Africa) – Mauritian conglomerate IBL Ltd. and its partners acquired a 40% stake in Kenya’s biggest retailer Naivas Ltd., a milestone in the company’s East Africa expansion plan. IBL teamed up with Proparco, a subsidiary of French lender Agence Française de Développement and German KfW Group unit DEG on the deal, the Kenyan company said in an emailed statement. It involved the investors buying shares held by the International Finance Corp. and Amethis…

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