Five notable West African deals
We highlight five West African investments, as featured in our Dealmaker’s Log.
We highlight five West African investments over the past twelve months, as featured in our Dealmaker’s Log, a database of reported investment deals, exits, and fundraising milestones. Subscribe to this service here
1. Adiwale Partners invests in West African pineapple juice producer
Adiwale Fund I has made an investment in Jus Délice, a Togo-based producer of organic pineapple juice and concentrate. This investment will finance a new production line. It will also facilitate the exit of Moringa, a fund established by Edmond de Rothschild and the company’s majority investor since 2018.
Through this transaction, Adiwale Fund I will support Jus Délice’s efforts to meet the growing demand from its international customers, particularly in Europe and North America. Read the full article
2. Aruwa Capital makes follow-on investment into Nigerian hibiscus exporter
Aruwa Capital Management, an early-stage growth equity and gender lens fund investing in Nigeria and Ghana, announced an additional investment into AgroEknor, a hibiscus flower exporter and wellness brand.
The proceeds of this investment will enable AgroEknor to meet pent up demand, fulfil more export orders, improve its warehouse infrastructure, drive increased utilisation of their processing chamber, increase its investments in FEEP and drive further adoption of its technology product. Read the full article
3. West Africa: Janngo Capital leads $17m funding in Djamo
Djamo, a financial services app focused on mobile banking in Francophone Africa, has raised $17 million in equity funding to expand its offering for both consumers and small businesses.
The $17 million investment round was led by Janngo Capital, with participation from SANAD Fund for MSMEs (managed by Finance in Motion), Partech, Oikocredit, Enza Capital and Y Combinator. Read the full article
4. Ghanaian fish producer raises funding from AgDevCo
Specialist agriculture investor AgDevCo has signed a long-term investment of $10 million with Tropo Farms, a tilapia fish producer in West Africa.
AgDevCo’s investment will finance the construction of a modern processing facility and other production equipment. This will increase the company’s capacity to 30,000 tonnes within five years, contributing to improved nutrition and food security in Ghana. Read the full article
5. Proparco and Admaius Capital Partners back medical school in Senegal
French development finance institution Proparco has partnered with Admaius Capital Partners to support Senegal’s Saint Christopher Iba Mar Diop Medical School through the FISEA+ facility.
Established in Dakar in 2003, Saint Christopher has grown up into one of the largest private medical training institutions in francophone Africa, with over 2,000 students currently enrolled in medicine, pharmacy, and dentistry programmes. Read the full article
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