Private Equity |

FMO supports inclusive finance in Africa

HAGUE, Netherlands, Capital Markets in Africa — The Dutch development bank, FMO, has provided a five year loan for USD 10 million from the MASSIF fund to VisionFund International (VFI), a global microfinance organisation. This transaction will especially benefit rural communities and female clients from VisionFund’s African microfinance institutions (MFIs). In addition, FMO has also provided a USD 275,000 Capacity Development (CD) grant to support VFI with an innovative approach to disaster resilient microfinance. VFI…

International public and private partners invest USD 137 million in healthcare in Africa

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HAGUE, Netherlands, Capital Markets in Africa — A diverse range of public and private organizations, including multinational companies, pension funds and development finance institutions are investing millions in Africa’s private healthcare sector. On the afternoon of Wednesday 16 December investors will take part in a ceremonial signing event at the Dutch Design Hotel Artemis in Amsterdam. International Finance Corporation (IFC), European Investment Bank (EIB), Netherlands Development Finance Company (FMO), Dutch Good Growth Fund (DGGF), ACHMEA…

Actis invests in pan-African food retailer, Food Lovers’s Market

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Johannesburg, South Africa — Actis, an emerging market investor, today announced an investment of R760m (US$54m) in Food Lover’s Market, estimated to be the largest independent food retail group in Africa. Actis is acquiring a substantial minority stake in the business and backing founders Brian and Mike Coppin, together with the existing management team, who have created a remarkable success story based on a market leadership position in fresh produce retail. Food Lover’s Market is…

IFC Invests in Egypt-based Sphinx Glass to Boost Manufacturing Sector

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Cairo, Egypt, Capital Markets in Africa — The International Finance Corporation (IFC), a member of the World Bank Group, is investing in a 20 percent equity stake in Egypt-based Sphinx Glass, to boost the glass manufacturing sector in the region, support the company’s expansion, and spur job creation and growth. Sphinx Glass is a subsidiary of Saudi-based Construction Products Holding Company (CPC). The IFC investment will enable Sphinx Glass to optimize production, improve its energy…

Actis Buys Majority Stake in Nigeria’s Sigma Pensions Operator

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LAGOS, Nigeria, Capital Markets in Africa — Actis LLP, a private equity investor in emerging markets, today completed an investment of $62 million for a majority stake in Sigma Pensions (“Sigma”), a leading Pension Fund Administrator (“PFA”) in Nigeria. Actis is partnering with Sigma’s founder and Chief Executive Officer, Mr Umaru Modibbo and the current management team. Founded in 2004 and headquartered in Abuja, Sigma was one of Nigeria’s first PFAs and now has over…

Actis, RMB Westport and Paragon sell Nigeria’s Ikeja City Mall to Hyprop and Attacq

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LAGOS, Nigeria, Capital Markets in Africa — Actis, an emerging markets investor, RMB Westport, a notable sub-Saharan Africa real estate investment management and development group and Paragon Holdings, a leading Nigerian investor group today confirm the sale of Ikeja City Mall to South African Real Estate Investment Trust (REIT), Hyprop Investments Limited (Hyprop) and Attacq Limited (Attacq), a JSE-listed real estate capital growth fund. Hyprop acquired a 75% interest in Ikeja City Mall and Attacq…

Lekela Power signs MoU for US$350m wind power station in Egypt, following meeting with President Al-Sisi

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CAIRO, Egypt, Capital Markets in Africa —– Actis controlled Lekela Power, a $1.9bn pan-African renewable power generation company has signed a Memorandum of Understanding with the Egyptian Electricity Transmission Company for a 250 MW wind power station in Egypt’s Gulf of Suez area. Lekela Power is owned 60% by Actis, a leading emerging markets investor and 40% Mainstream Renewable Power, a global wind and solar company. This latest power station is Lekela Power’s third project…

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