Private Equtiy |

Abraaj Group says plans to buy Kenyan coffee chain Java House

NAIROBI (Capital Markets in Africa) – The Abraaj Group (Abraaj or the Group), a leading investor operating in growth markets, announced today it has entered into a definitive agreement to purchase, through its Funds, 100% of Java House Group (Java House or the Company), East Africa’s leading coffee-led casual dining chain, from private equity firm Emerging Capital Partners (ECP), and the Company’s founder and chairman, Kevin Ashley. Java House Group was established in Nairobi in…

DEG invests ZAR100m in Southern African fashion retailer

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JOHANNESBURG (Capital Markets in Africa)- DEG is providing ZAR 100 million to Southern African retail chain, Retailability (Pty) Limited which targets customers in the low to middle income bracket. Retailability is deploying the additional capital to expand its operations – as it has recently acquired the fashion retailer LEGIT that also operates in Southern Africa. The investment was facilitated and led by the African Private Equity firm Metier through its Metier Capital Growth Fund II…

Accion Frontier Inclusion Fund oversubscribed to closes at $141m

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LAGOS (Capital Markets in Africa) – Accion and Quona Capital announced today the final close of the Accion Frontier Inclusion Fund, the world’s first global fintech fund for the underserved. The oversubscribed Fund represents $141M in commitments from an array of leading institutional investors including global insurance companies, investment banks and asset managers, a university endowment, prominent foundations and family offices, as well as development finance institutions. The Fund will focus on emerging markets in…

Investment | DPI invests US$100mn in Atlantic Business International

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ABIDJAN, Capital Markets in Africa: Development Partners International (DPI), one of the leading African private equity specialists with US$1.1bn under management, has agreed to subscribe to a US$100mn capital increase through its ADP II Fund in Atlantic Business International (ABI). ABI is the third largest banking entity in the West African Economic and Monetary Union (UEMOA) and the second largest bank in Côte d’Ivoire in terms of deposits with banking and insurance operations across Côte…

Investment | IFC, Omidyar, Quona and Others invest in Zoona

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Johannesburg, Capital Markets in Africa: African financial technology company Zoona has successfully raised US$15mn (ZAR200mn) in a second round of financing. This Series B round is led by the International Finance Corporation (IFC), a member of the World Bank Group, and will help Zoona scale up its operations as it aims to reach 10 markets and 30 million active consumers across Africa by 2020. First round investors Accion, whose investment is managed by Quona Capital, and Omidyar…