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. Ascent Rift Valley Fund II buys stake in Kenyan packaging business

Dune Packaging, a packaging solutions provider in Kenya, has announced a significant minority equity investment in its business by the Ascent Rift Valley Fund II.

The transaction was led and managed by Tradeways, the specialist advisory boutique with a focus on the Middle East and sub-Saharan Africa. Read the full article

2. South Africa: RMB Ventures invests in Bulldog Group

RMB Ventures has closed an investment deal with the Bulldog Group in South Africa.

Bulldog is a wholesaler and distributor of paint and consumables to the auto-refinish industry, and the industrial, DIY and woodwork sectors. It services the market through three businesses namely Bulldog Abrasives, RSB and Y.E.S. Read the full article

3. New Forests appoints Yida Kemoli as managing director for Africa

New Forests, a global investment manager of nature-based real assets and natural capital strategies, has appointed Yida Kemoli as its managing director for Africa.

Kemoli will be responsible for driving the strategy for New Forests’ African business, fundraising for African forestry strategies, leading the team on the ground in Nairobi, and delivering investment returns and impact outcomes for clients. Read the full article

4. Apis Growth Fund I to exit South African business

Apis Growth Fund I, a private equity fund managed by Apis Partners, is set to fully exit its position in South African merchant acquirer Adumo. This move follows the recent announcement of Adumo’s pending acquisition by South African fintech firm Lesaka.

The deal is expected to complete upon receipt of competition commission approval, and a subsequent restructuring will result in the fund receiving proceeds of the transaction in Lesaka shares. Read the full article

5. Seamfix secures $4.5m from Alitheia IDF

Seamfix, a digital identity solutions provider, has secured $4.5 million from Alitheia IDF.

Starting in Nigeria, Seamfix provides identity creation, verification and transaction accreditation solutions for large organisations and government agencies. The new funding represents Seamfix’s first institutional investment, and it will enable the company to expand its services to Ghana, Kenya, South Africa, Ethiopia, and Uganda. Read the full article

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