Investment | - Part 26

Private Equities Partner to Support Agrotech Startups in East Africa

NAIROBI (Capital Markets in Africa) – Village Capital and Schooner Africa Fund have launched the Africa Investment Marketplace to invest between $100K and $500K into early stage agrotech startups in East Africa, a move aimed at tackling the disconnect in the region’s between early-stage ventures looking for capital, and investors looking for deal flow. “We are providing due diligence, transaction advisory, investor matching and deal syndication services for 8 agribusinesses from Kenya, Tanzania, Uganda, and…

Private Equity: Synergy Capital Managers invests in MSY Analytics Group

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LAGOS (Capital Markets in Africa) – Synergy Private Equity Fund (SPEF) is pleased to announce the completion of its investment in MSY Analytics Group (MSY), a technology driven professional services and data analytics company focused on increasing corporate human capital productivity and organizational positioning. The Company currently operates in Nigeria with a plan to roll out across the African continent. MSY is focused on creating value for companies, organizations and Institutions by collecting, analyzing, synthesizing…

Futuregrowth invests R300m in South Africa’s SA Taxi

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JOHANNESBURG (Capital Markets in Africa) – SA Taxi today announced that it has secured R300-million in funding from Futuregrowth Asset Management, which will be used to provide financing to the company’s Zebra Cabs owner-driver scheme. SA Taxi, South Africa’s largest financier of minibus taxis, acquired Zebra Cabs metered taxis in 2015 as the certified developmental credit provider sought to expand its business activities into relevant adjacent markets. Mark Herskovits, SA Taxi Capital Markets Director, explains…

Dubai-based firm forms $1.6 bln steel plant JV in Algeria

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ALGIERS (Capital Markets in Africa) – Dubai-based conglomerate Emarat Dzayer Group said it had signed a joint venture agreement to develop a $1.6 billion steel factory in Algeria, boosting the North African country’s drive to diversify its economy and attract foreign investment. Emarat Dzayer Steel Company will be a joint venture between Algeria’s state-linked Groupe Imetal, which will hold a 51 percent stake in the business through two subsidiaries, and 49 percent held by Emarat…

LeapFrog secures a majority stake in GoodLife Pharmacy, Kenya

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NAIROBI (Capital Markets in Africa) – LeapFrog Investments, a leading specialist investor in emerging markets, today announced its acquisition of a US$22mn majority stake in Kenya’s GoodLife Pharmacy, the largest direct investment in the East African retail pharmacy sector to date. LeapFrog will now build on its financial services specialism by diversifying its private equity investments into a closely linked sector – healthcare. This will develop a platform that combines both payers and providers, thereby…

Mauritius’ Banking Sector: Overview, Challenges and Opportunities

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Banking Sector Overview Over 20 banks operate in Mauritius and, in addition to traditional banking services, they offer a range of specialised services ranging from custodial services to cross-border activities. Half of these banks offer retail banking services to residents – a space dominated by a couple of players – while the rest focus on specialised international banking services and also include a couple of purely private banks. In Mauritius, the domestic operations are typically…

Nigerian pension funds shift to bonds as currency woes deter equity investors

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ABUJA (Capital Markets in Africa) – Nigerian pension funds have been selling equities and shifting to local bonds despite cheap valuations as illiquid currency markets limit foreign participation in the stock market. Dave Uduanu, who manages 220 billion naira ($724 million) for Pension Alliance Limited, said his fund had cut its exposure to Nigerian stocks to 10 percent this year, from 20 percent last year, and increased allocation to local treasury bills and government bonds. Nigeria,…

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