East African private equity deals
We highlight five East African private equity transactions, as featured in our Dealmaker’s Log.
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We highlight five East African private equity transactions, as featured in our Dealmaker’s Log, a database of reported investment deals, exits, and fundraising closes. Subscribe to this service here
1. AfricInvest acquires stake in I&M Bank
British International Investment (BII), the UK’s development finance institution and impact investor, has sold its 10.1% stake in I&M Group PLC, the Eastern African banking group, to AfricInvest. The acquisition was made through East Africa Growth Holding, a special purpose vehicle entirely controlled and formed by AfricInvest.
I&M Group has a presence in Kenya, Mauritius, Tanzania, Rwanda and Uganda. It offers financial services to individuals, micro, small and medium-sized enterprises (MSMEs), and corporates across the region. It is listed on the Nairobi Securities Exchange, with its Rwandan subsidiary, I&M Bank Rwanda, listed on the Rwanda Stock Exchange. Read the full article
2. Poultry business raises $9.5m from AgDevCo and IDH Farmfit Fund
Hatch Africa, a poultry business targeting underserved rural households, has secured a combined $9.5 million investment with participation from AgDevCo and IDH Farmfit Fund.
The investment into Flow Equity Africa Ventures, the holding company for Hatch’s operations in Kenya, Ghana, and Côte d'Ivoire, will scale Hatch’s business model to millions more smallholder farmer households. Read the full article
3. ARCH Cold Chain Solution East Africa Fund announces Uganda deal
The ARCH Cold Chain Solution East Africa Fund (CCSEAF) has made an investment into Uganda’s Kazi Food Logistics.
This investment will support the creation of an advanced temperature-controlled facility. It will focus on energy efficiency, utilising solar power for its energy requirements and employing ammonia as a refrigerant, alongside other environmentally-conscious initiatives. Read the full article
4. Admaius Capital Partners makes an investment in a Rwandan telecom towers operator
Admaius Capital Partners, an Africa focused private equity investor operating across several growth markets, announced its majority equity investment into TRES Infrastructure Limited, the only local licensed tower owner, operator, and developer of shared telecommunications infrastructure in Rwanda.
TRES’ tower infrastructure is used by the two local mobile network operators, MTN and AIRTEL, while also benefitting other local network service providers such as KT Rwanda Networks Ltd. Read the full article
5. EXEO Capital in Uganda dairy deal
EXEO Capital, through its Agri-Vie Fund II, committed (and later channeled) $10 million to Amos Dairies, a dairy processor in Uganda.
Amos Dairies manufactures; ghee, butter, casein, skimmed milk powder, whole milk powder, whey permeates, whey concentrate, instant milk powder, and extended shelf-life milk. Its production of casein gives Amos Dairies a significant competitive advantage. Casein is a milk protein that is used in making cheese and many other dairy products. Read the full article
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