Five notable Ugandan private capital deals
We highlight five Ugandan private capital deals, as featured in our Dealmaker’s Log.
We highlight five Ugandan private capital deals 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. Goodwell makes first investment in Uganda
Goodwell Investments acquired a stake in the Agent Banking Company of Uganda (ABC), a technology-focused financial services firm with a mission to “improve lives by facilitating access to quality and affordable financial services”.
Goodwell invested in ABC through uMunthu II, its €150 million fund providing venture capital to impact-driven companies throughout Africa. The funding will enable ABC to pursue ambitious goals for growth, including expanding its client base, increasing agent coverage, and deploying new services. Read the full article
2. Inua Capital backs food company
Inua Capital, an impact fund investing in SMEs in Uganda, announced an investment in Forna Health Foods (Aunt Porridge), as one of its first investments under the GLI impact fund.
Inua Capital is sponsored by Investisseurs et Partenaires (I&P).
Forna Health Foods is a manufacturer of Aunt Porridge and Instapo, which are brands of healthy and nutritious porridge targeted at helping weaning infants, growing children, breastfeeding mothers and immune-compromised patients as well as the entire family. Read the full article
3. Watu Credit raises $15m funding
Alpen Capital advised Watu Credit in Uganda in raising an initial five year term facility of $15 million from Gateway Partners through its Africa Credit Opportunities Fund. This is the first tranche of Alpen’s ongoing mandate to raise $50 million.
Watu Credit is a African non-banking finance company providing asset finance for two-wheelers and three-wheelers to Africa’s unbanked and underserved population. Read the full article
4. Sahel Capital provides funding of $1m to Sukuma Commodities
Sahel Capital approved a $1 million term and working capital loan to Sukuma Commodities, a Ugandan-based enterprise specialising in the supply and processing of exportable green coffee for European traders and roasters. The financing was provided through Sahel’s Social Enterprise Fund for Agriculture in Africa (SEFAA) facility.
Sukuma sources Robusta and Arabica coffee from a network of 2,300 smallholder farmers, providing support through input financing and training on best production practices. Sukuma exports 100% of its coffee to a diverse portfolio of European off-takers, including Italy, the Netherlands, and Germany. This investment will enable Sukuma to scale its operations, increase coffee aggregation for processing, and expand its export capacity. Read the full article
5. Renew Capital backs African capital markets investing platform
Renew Capital announced an investment in Uganda-based fintech company Level Africa. The platform streamlines the investment process, enabling quick and easy access to bonds, stocks and other financial instruments.
The journey to invest in bonds, stocks and other financial instruments available through capital markets across Africa has long been fraught with challenges such as complex paperwork and unreliable brokers. Level Africa is working to change this narrative. Read the full article
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