Five African private equity moves in December 2024
Five PE transactions and announcements in the month of December, as featured in our Dealmaker’s Log.
We highlight five African private equity transactions and announcements in the month of December, as featured in our Dealmaker’s Log, a database of reported investment deals, exits, and fundraising milestones. Subscribe to this service here
1. Salt Capital acquires stake in Pirtek Africa
Salt Capital acquired a stake in Pirtek Africa, an established African-focused supplier and distributor of premium fluid transfer solutions.
Pirtek Africa’s core business revolves around the supply and maintenance of hydraulic and industrial hoses, fittings and related products catering to a wide range of industries, including agriculture, construction, mining, manufacturing and transportation. Read the full article
2. Sanari 3S Growth Fund announces final close
South Africa-based Sanari Capital raised about R1.5 billion ($80 million) for its Sanari 3S Growth Fund.
New investors in the fund join institutions including the Public Investment Corporation (PIC), Alexforbes Investments, the 27four Black Business Growth Fund, Telkom Retirement Fund and the Motor Industry Retirement Funds with RisCura, and the National Fund for Municipal Workers. Read the full article
3. Africa50 in $15m data centre deal
Africa50, the pan-African infrastructure investor and asset manager, announced a $15 million investment in Raya Data Center (RDC). The investment, which is subject to regulatory approvals, will strengthen RDC’s existing operations and fund the development of a greenfield tier III data centre in Egypt, driving the country’s digital economy and startup ecosystem.
The data centre industry in Egypt requires substantial investment, driven by high demand amid the country's growing digital economy and internet usage. Read the full article
4. European LP commits $20m to Apis Growth Markets Fund III
The Swiss development finance institution SIFEM, managed by responsAbility Investments, announced a commitment of $20 million to Apis Growth Markets Fund III (AGMF III), a closed-end financial services fund targeting growth-stage opportunities in Africa, South Asia, and Southeast Asia.
Apis Partners, the portfolio manager of AGMF III, will build on the track record of its predecessor funds, focusing on transformative financial inclusion by investing in innovative, tech-enabled financial services. Read the full article
5. DPI partially exits CMGP Group
Private equity firm Development Partners International (DPI) announced that its portfolio company, CMGP Group, has listed on the Casablanca Stock Exchange on 16 December. As CMGP's lead investor since September 2018, DPI has played a key role in its evolution from a specialised irrigation solutions provider into an integrated agri-services company, now operating in five countries.
According to Stears, DPI partially exited CMGP through the IPO, selling 13% of its stake. Read the full article
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