Private Equity

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…

LAGOS, Nigeria, Capital Markets in Africa: Volatile currencies and weaker commodity prices are keeping private equity investors focused on sub-Saharan Africa on the sidelines even though buyout firms have record amounts of cash to spend on acquisitions. “There’s been a dislocation in the market,” Marlon Chigwende, manager of Carlyle Group LP’s $698 million African fund, said by phone from London. “The dollar has appreciated strongly against a lot of African currencies so it’s had the effect of slowing…

LAGOS, Nigeria, Capital Markets in Africa: Africa Finance Corp. and Harith General Partners Pty Limited. merged their African power assets in a bid to promote growth across the continent. The new entity’s portfolio will be valued at $3.3 billion and have 1.3 gigawatts of capacity in operation and under development, according to a joint e-mailed statement from the development institution and private equity company. The joint venture, which provides energy to 30 million people in 10…