The 5 most popular stories on Africa Private Equity News this week

Here are summaries of the five most widely read stories this week on Africa Private Equity News.

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Here are summaries of the five most widely read stories this week on Africa Private Equity News.

1. DPI and Verod invest in Nigeria’s Pan African Towers

Pan African Towers (PAT), a digital infrastructure company based in Nigeria, has announced a strategic investment from Development Partners International (DPI) and Verod Capital.

Established in Nigeria in 2017 to capitalise on the growing demand for wireless communications across Africa, PAT has emerged as a prominent telecommunications and tower infrastructure provider in Nigeria. Since founding, PAT has built a successful business model centred around establishing tailored, long-term contracts with blue-chip customers, including Nigeria’s leading mobile network operators (MNOs) and internet service providers (ISPs).

2. Affirma Capital exits African beverage can manufacturer to Oppenheimer Partners

Affirma Capital (formerly Standard Chartered Private Equity) has exited its investment in the GZI Group to Oppenheimer Partners.

GZI is a manufacturer and producer of aluminium cans for global blue-chip beverage brands in Africa. The group supplies beverage cans into key regional markets across sub-Saharan Africa.

Affirma first invested in GZI in 2012, increasing its stake to 37.5% during its ownership period.

3. Amethis, AfricInvest, others in telecom infrastructure deal

A consortium of investors including Amethis, AfricInvest, Proparco and the International Finance Corporation (IFC) has acquired a majority stake in Netis, a pan-African telecommunication infrastructure service provider.

Founded in 2009, Netis is a major pan-African telecom infrastructure service provider, operating in more than 15 countries and offering a comprehensive range of services – telecom tower maintenance and infrastructure, fibre optics deployment and connection, supply and installation of power and energy saving solutions – to a diverse range of clients including mobile network operators, telecom tower companies, fibre optics players, and original equipment manufacturers.

4. IFC backs new Apis PE fund

The International Finance Corporation (IFC) has announced an investment in a new fund by private equity firm Apis Partners. The fund will back innovative mid-cap financial service providers to expand and boost financial inclusion among individuals and micro, small, and medium-sized enterprises across Africa, South Asia, and Southeast Asia.

IFC is making a $75 million equity investment in Apis Growth Markets Fund III, which will focus on fast-growing companies that are using technological innovations to expand access to financial services. IFC has also allocated an additional $25 million for selectively investing alongside the fund in Apis portfolio companies.

5. ARCH Cold Chain Solution East Africa Fund announces Uganda deal

The ARCH Cold Chain Solution East Africa Fund (CCSEAF) has made an investment into Uganda’s Kazi Food Logistics.

This investment will support the creation of an advanced temperature-controlled facility. It will focus on energy efficiency, utilising solar power for its energy requirements and employing ammonia as a refrigerant, alongside other environmentally-conscious initiatives.

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