Private Capital |

IFC Supports Tech Companies with US$10mn Investment in Wamda Capital

Cairo, Egypt (Capital Markets in Africa) — IFC, a member of the World Bank Group, is investing $10 million in a venture capital fund that supports promising technology companies, part of an effort to drive job creation across the Middle East and North Africa (MENA). The investment will help Wamda Capital advise entrepreneurs and provide seed funding to tech firms in Egypt, Lebanon, Jordan, and other countries. Such support is considered vital in a region where…

Sovereign wealth fund’s AUM at $6 trillion at end- March 2015

Posted on by The Editorial Team

London (Capital Markets in Africa):- The 2015 Preqin Sovereign Wealth Fund Review reveals that majority of sovereign wealth funds globally have increased their assets under management over the course of 2014. The growth in assets, up from USD5.38tn in October 2013 to USD6.31tn in March 2015, has been driven by continued funding from governments and reserves, as well as from investment returns. This growth has also been in the headwind of falling oil prices, one…

U.S. Brookstone to invest $750 mln in Ivory Coast hydro project

Posted on by The Editorial Team

Abidjan, Cote D’Ivoire (Capital Markets in Africa):- U.S. private equity firm Brookstone Partners plans to invest up to 450 billion francs CFA ($750 million) in three hydroelectric dams in Ivory Coast through its Moroccan arm Platinum Powers, a company executive said on Wednesday. Kamal Abdelhafid, engineer and strategic director of the group, told Reuters in the Ivorian commercial capital Abidjan that the projects aim to meet rising power demand in francophone West Africa’s biggest economy….

New York Pension Fund to Invest up to 3% of its assets in Africa

Posted on by The Editorial Team

London (Capital Markets in Africa):- At a conference in London last week, Vicki Fuller, the Chief Investment Officer of the New York State Common Retirement Fund, revealed that it is planning to allocate as much as 3% of its assets, (approximately $5 billion), to investing in Africa over the next 5 years. Private equity, venture capital, infrastructure and real estate opportunities all look set to benefit. With priority being given to managers with offices in African…

FMO exits Safripol investment

Posted on by The Editorial Team

Johannesburg, South Africa, April 8 2015: The Netherlands Development Finance Company (FMO) and Vantage Capital have exited their R220 million ($32 million) investment in Safripol, a Southern African plastic polymer manufacturer. Vantage is a Pan-African mezzanine fund manager with over R5 billion ($420 million) of assets under management. FMO is the Dutch development bank. In July 2007 Vantage and FMO funded Thebe Investment Corporation, one of South Africa’s most prominent black economic empowerment investment companies, to acquire…

Verod Capital fully exits HFP Engineering and partially exits GZ industries

Posted on by The Editorial Team

Verod Capital has fully exited ownership of HFP Engineering (“HFP”), a Nigerian company based in Lagos. Established in 1979, HFP is a major player in the property development and construction industry in Nigeria. The company developed several landmark projects in Nigeria, including Victoria Garden City, a residential estate with an estimated population of 30,000 inhabitants. In 2008, Verod Capital acquired a 33% stake in HFP, and contributed significantly to developing the business and expanding its…

PIC puts R5bn into Northern Cape renewable energy projects

Posted on by The Editorial Team

RENEWABLE energy projects received a boost with the announcement on Wednesday of two new solar power plants to be built in the Northern Cape. The Public Investment Corporation (PIC) will invest R4.4bn, buying a 20% stake in each plant and providing debt funding for both totalling R600m. Worth R22bn, the Ilangalethu and Xina power stations are expected to contribute a combined 200MW to the national electricity grid. It usually takes two years to build a…

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