The 5 most popular stories on Africa Private Equity News the past week

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

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

1. IFC proposes $20m commitment to Egypt-focused PE fund

The International Finance Corporation has disclosed a proposed equity investment of up to $20 million into the Tanmiya Capital Ventures Fund II (TCV II), a fund targeting $150 million.

TCV II is an Egypt-focused growth capital private equity fund planning to invest in growing mid-cap companies across diversified sectors which include food and beverage, logistics, pharmaceuticals, healthcare, and higher education.

The fund will be managed by Tanmiya Capital Ventures. Read the full article

2. Mergence Investment Managers in South African solar deal

Solarise Africa, an energy-as-a-service company for businesses across Africa, has announced a R160 million (about $9 million) investment from Mergence Investment Managers.

The funding will primarily be used to finance the installation and expansion of solar energy systems for commercial and industrial (C&I) clients in South Africa. Read the full article

3. Norrsken22 leads investment in HR management platform

Kenya-based HR and payroll management platform Workpay has raised $5 million in Series A funding led by Norrsken22, with participation from Visa, Acadian Ventures, Y Combinator, Verod-Kepple Africa Ventures, Axian Group and Saviu Ventures.

Workpay was founded by Paul Kimani and Jackson Kibigo. Read the full article

4. OP Finnfund Global Impact Fund I in African payments deal

The OP Finnfund Global Impact Fund I, the first Finnish global emerging markets impact fund, has invested in TerraPay to boost access to affordable remittances in countries across Africa.

The investment is part of a $75 million financing package that includes a $30 million loan from IFC, a B Loan of $15 million provided by impact investor ILX, and a combined parallel loan of $30 million from OP Finnfund Global Impact Fund I and Belgian development finance institution BIO. Read the full article

5. Kenya: Untapped Global backs edtech company ElimuTab

Untapped Global has announced an investment in ElimuTab.

Founded in 2022 by Anthony Kahinga and Grace Wairimu, ElimuTab is one of Kenya's first educational tablets specifically designed to support various educational curricula. Read the full article

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