Private Equity

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,…

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…

  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…

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…

LAGOS (Capital Markets in Africa) – MARA, a cryptocurrency company backed by Coinbase Global Inc., said it will advise the president of the Central African Republic after the nation became the second globally after El Salvador to adopt Bitcoin as legal tender.  Newly established MARA also announced its entry into Nigeria and Kenya, and that that it had secured $23 million in funding from companies including Coinbase, Alameda Research LLC and Distributed Global LLC.  “MARA will become the official crypto…