Five noteworthy African private equity transactions in 2024
We highlight five notable private equity deals this year, as featured in our Dealmaker’s Log.
We highlight five private equity deals this year, as featured in our Dealmaker’s Log, a database of reported investment deals, exits, and fundraising milestones. Subscribe to this service here
1. AfricInvest acquires stake I&M Bank
British International Investment (BII), the UK’s development finance institution and impact investor, sold its 10.1% stake in I&M Group, the Eastern African banking group, to 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, 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. Adenia acquires South African delivery company The Courier Guy
Private equity firm Adenia Partners acquired 100% of The Courier Guy, a last-mile delivery and express parcel services company in South Africa, alongside co-investors DEG, Proparco, and South Suez. This acquisition marks the second investment of Adenia’s fifth flagship fund, Adenia V. Financial terms of the transaction were not disclosed.
The Courier Guy has an extensive network of delivery partners, kiosks, and more than 1,200 smart lockers across the country. Read the full article
3. Helios in $40m food deal
Egypt’s Raya Foods secured an investment of approximately $40 million from Helios Investment Partners.
Through this investment, Helios will acquire 49% of Raya Foods’ shares. The investment aims to boost Raya Foods’ capabilities in the manufacturing and export of frozen foods and expand its global presence. Read the full article
4. Phatisa invests in African facilities management group
A consortium comprising Phatisa, ES-KO, and management, acquired 100% of International Facilities Services (IFS) from Development Partners International (DPI) for an undisclosed sum.
Established in 2000, IFS is an African integrated facilities management business, supporting blue-chip customers operating in remote sites. Having started its activities in South Africa, IFS has progressively expanded its footprint, servicing more than 40 remote sites across six African countries including Mozambique, DRC and Zambia. Read the full article
5. SPE Capital confirms its investment in Dislog Group
Following approval from the Moroccan competition authority, SPE Capital Partners has made a MAD 350 million (about $35 million) investment in consumer goods company Dislog Group through its AIF I Fund. This amount should be complemented by an additional co-investment of MAD 100 million (about $10 million) from an international financial institution, bringing the total investment to MAD 450 million (about $45 million).
Nabil Triki, managing partner and CEO of SPE Capital, stated: “We are pleased to invest alongside our partner in Dislog Group. We were shareholders of H&S between 2019 and 2021 and are delighted to see the group’s progress and growth in recent years. We aim to grow together with the goal of successfully achieving an IPO on the Casablanca Stock Exchange within the next two to three years.” Read the full article
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