Private Equity |

African Private Equity: Reassess our Trades, To Buy, Sell or Hold?

NIGERIA, Capital Markets in Africa: In September 2012, we at White Lake wrote an article called “Patterns, Predictions and Profits: the Powerful Case for African Private Equity” – our macro investment thesis at that time for Africa. The title speaks for itself -investment professionals always have a view – and we were pounding the table in support of African PE, albeit with some risk caveats. Let’s assume at that time we “bought” African PE as…

Mezzanine Financing: A Solution for the Mid-Market Funding Gap in Africa

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LAGOS, Nigeria, Capital Markets in Africa: Mezzanine financing in developed markets such as Europe and the United States is typically used to fill a gap in the capital structure, providing additional leverage for primarily private equity funds. In emerging markets such as Africa, mezzanine financing is a key tool in addressing the current lack of funding that is especially obvious in the mid-market, where small and medium sized companies are looking to raise between $5-…

Infrastructure | AIIM announces successful sale of stakes in three toll road assets

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CAPE TOWN, South Africa, Capital Markets in Africa: African Infrastructure Investment Managers (AIIM) has announced the successful sale of investments in three privately-concessioned toll roads in Southern Africa. Acting as the manager of the South Africa Infrastructure Fund (SAIF), AIIM successfully concluded the transaction on 4 July 2016. This sale represents the largest private equity realisation for toll road infrastructure in Africa to date. SAIF was established in 1996, and in mid-2000 management of the…

Private Equity | CDC Group makes new investment in Africa Internet Group

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LONDON, Capital Markets in Africa: CDC Group, the UK’s development finance institution, announced a EUR50mn equity investment in Africa Internet Group (AIG). AIG is the parent company of Jumia, Africa’s leading e-commerce firm, as well as nine other online consumer businesses operating in 23 countries across the continent. AIG currently connects more than 50,000 local and international companies with millions of African consumers. CDC’s capital will help AIG improve its existing operations and expand into…

Investment | AFC fuels expansion at New Age with new investment

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LAGOS, Nigeria, Capital Markets in Africa: Africa Finance Corporation (AFC) has announced that it is acting as lead arranger for an up to US$425mn senior mezzanine facility for New Age (African Global Energy) Limited (New Age), a privately held oil and gas exploration, development, and production company with assets primarily across Africa, to enable the company to further develop its existing assets and expand operations. AFC is investing US$75mn in the deal. AFC and the…

Alitheia Identity Managers Partners with US-based impact investor Capria

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NIGERIA, Capital Markets in Africa: Alitheia Identity Managers (Alitheia Identity) announced a partnership with Capria Ventures (Capria), a global impact investment firm that works with local fund managers to accelerate the flow of capital in emerging markets. Female entrepreneurs, women-led and gender-diverse management teams are particularly set to benefit. Commenting on Capria’s selection of Alitheia Identity for funding and support, Anne-Marie Chidzero, Managing Partner at Alitheia Identity said: “Together with the African Development Bank’s (AfDB)…

Lekela commits to funding Taiba Ndiaye Wind Project

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SENEGAL, Capital Markets in Africa: Lekela Power, a joint venture between leading growth markets investor, Actis (USD$6.3bn funds under management) and global renewable energy developer, Mainstream Renewable Power (over 10,000 MW in development, construction and operations) announced the acquisition of co-development rights and sole rights to invest in the 158 MW Taiba Ndiaye Wind Project in Senegal. Lekela is a Pan-African renewable energy generation platform delivering utility scale wind and solar power in the region…

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