Africa Private Equity

Carlyle Said to Halt Talks With Diamond on Barclays Africa Bid

Johannesburg, Capital Markets in Africa: Talks between Carlyle Group LP and Bob Diamond’s Atlas Merchant Capital LLC about a joint bid for Barclays Plc’s African unit have stalled, people with knowledge of the matter said. Carlyle executives are concerned that Barclays might be reluctant to sell its stake in Barclays Africa Group Ltd. to a consortium including Diamond, who led the London-based bank until 2012, and that regulators would block a sale to a private-equity firm, said one of the people, who requested anonymity…

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…

Private Equity | Abraaj Readies Nigerian Fertilizer, East African Insurance Deals

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LAGOS, Nigeria, Capital Markets in Africa: Abraaj Group, a Dubai-based private equity firm, is in the final stages of approval for three transactions in sub-Saharan Africa and will probably make further investments in the region before the end of the year, partner Sev Vettivetpillai said on Thursday. Abraaj is seeking final internal approval for three transactions, including one in Nigeria’s fertilizer industry, an insurance investment in East Africa and an industrial business in South Africa, he said in an…

Private Equity | CDC Group Plc Acquires a 10.7% Stake in I&M Holdings, Kenya

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NAIROBI, Kenya, Capital Markets in Africa: CDC Group plc (CDC), the UK’s development finance institution, has announced it will take a 10.68 per cent equity stake in the Nairobi-headquartered banking group I&M Holdings (IMHL). The investment underlines CDC’s commitment to supporting lending to small and medium sized enterprises (SMEs) in East Africa. Founded in 1974, IMHL’s commercial banking operations in Kenya rank in the country’s top ten, serving more than 100,000 customers. Having embarked on…

INTO AFRICA April Edition: Africa’s Unshaken Fundamentals

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LAGOS, Nigeria, Capital Markets in Africa — Over the past few years, discussion about Africa’s development, prosperity, growth and potential was becoming more optimistic, so Africa seems to have conquered the myth of negative perception. The gained optimism has led to many buzzwords such as Africa rising; Africa the last frontier, Lion on the move etc. As a result, Africa is not hard to sell to investors and many investment pitches highlight the common reason…

Private Equity | Africinvest invests in MicroKing Finance Zimbabwe

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Harare, Zimbabwe, Capital Markets in Africa — Microcred Group (Microcred) and AfricInvest Financial Sector Fund (AfricInvest) are pleased to announce they have reached an agreement to acquire a 100% ownership stake in MicroKing Finance (Private) Limited (MicroKing), a leading provider of microfinance products and services in Zimbabwe. The transaction is pending final regulatory approval. Microcred, a leading innovative financial institution focused on financial inclusion in Africa & Asia, and AfricInvest, a pan-African private equity fund manager,…

Investec Closes its Second Africa Private Equity Fund at US$295 Mill

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Johannesburg, South Africa, Capital Markets in Africa — Investec Asset Management, one of the largest investors in Africa, has successfully closed its sophomore fund, the Investec Africa Private Equity Fund 2 (IAPEF 2) at $295mn. The investor base includes pension funds, endowments, Fund of Funds and development finance institutions from across the US, Europe, the UK and Africa. As with its first African fund, IAPEF 1, launched in 2008, IAPEF 2 will focus broadly on…

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