Five notable North African deals
We highlight five North African investments, as featured in our Dealmaker’s Log.
We highlight five North African investments over the past 12 months, as featured in our Dealmaker’s Log, a database of reported investment deals, exits, and fundraising milestones. Subscribe to this service here
1. Amethis backs textile manufacturing group
Amethis, through its pan-African fund Amethis Fund III, has acquired a majority stake in the Kazareen Textile Group (KTG).
Founded in 1990 in Egypt, KTG is a vertically-integrated textile manufacturer focused on the B2B segment and generating the majority of its revenues from exports to Africa, Europe, and the GCC in four complementary business lines: apparel, hospitality linens, textile accessories, and knitted fabrics. KTG also distributes branded corporate promotional wear and workwear in Germany, France, Austria and Switzerland. The group, which is headquartered in the UK, has a manufacturing footprint of seven facilities in Egypt as well as operating subsidiaries in Canada, France, and Germany. Read the full article
2. Egypt: SPE Capital and partners invest in Tamweely Microfinance
SPE Capital, a private equity firm focused on Africa and the Middle East, has announced an investment in Tamweely, a non-banking financial services company in Egypt specialising in serving micro, small, and medium enterprises. The acquisition was made by SPE Capital’s private equity fund, SPE PEF III, in a consortium with the European Bank for Reconstruction and Development, Tanmiya Capital Ventures, and British International Investment.
Established in 2017, Tamweely has emerged as a leading player in the Egyptian non-bank financial services sector, offering financing and ancillary services dedicated to empowering MSMEs. Read the full article
3. Morocco: Pharma Capital acquires stake in Afric Phar
Pharma Capital has acquired a stake in Moroccan pharmaceutical group Afric Phar, comprising Afric Phar, Pharmis and Partner Lab.
Pharma Capital is part of Morocco's Sefrioui Group. Read the full article
4. Vantage Capital in Morocco agriculture deal
African fund manager Vantage Capital has closed a €14 million mezzanine investment in Société de Production Maraîchère Samir (SPMS) to part-fund the company’s investment programme.
SPMS was founded by Samir Jbali and Samir Belhouari, two Moroccan agronomists with a shared entrepreneurial vision, and the company has since grown into a leading agricultural player. Read the full article
5. MNT-Halan secures $157.5m from DPI, Apis, IFC, others
Egyptian fintech company MNT-Halan has raised a total of $157.5 million – $40 million from the International Finance Corporation and the remainder from Development Partners International, Lorax Capital Partners, Apis Partners, Lunate, and GB Corp. The latest round follows raises of $400 million in January 2023 and $120 million in September 2021.
Since its inception, MNT-Halan has grown over 20x to serve more than 7 million customers. It has continued to add new features and services to its customer centric digital ecosystem. The Halan app now includes all types of business and consumer loans, pre-paid cards, e-wallets, e-commerce, gold, and money market fund investments, with more services launching soon. Read the full article
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