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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Standard Bank is advising Metrofile on its acquisition by an international consortium
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1. Amethis invests in Moroccan fruit exporter BH Holding
Amethis, through its pan-African Amethis Fund III, has taken a minority stake in BH Holding, a Moroccan group specialising in the packing and export of high-value fruits.
The family-owned business is vertically integrated across the value chain, from production to export, and markets its produce under both proprietary premium brands and private labels. Its exports, which include citrus, cherry tomatoes and berries, are shipped mainly to North America and Europe. Read the full article
2. Metier invests in Watu
Metier, through its Capital Growth Fund III, has invested in Watu, a microfinance institution focused on financing income-generating assets for underserved communities across sub-Saharan Africa.
The company provides financing for motorcycles – both petrol and electric – and smartphones. Read the full article
3. AfricInvest and Partech back $22m round for Kredete
Kredete, a fintech that helps African immigrants build credit and access financial services, has raised $22 million in Series A funding. The round was led by AfricInvest, through its Cathay AfricInvest Innovation Fund and Financial Inclusion Vehicle, with Partech and Polymorphic Capital also participating.
This latest round, which brings Kredete’s total funding to $24.75 million, will finance the company’s expansion into Canada, the United Kingdom, and key European markets. Read the full article
4. Sanari Capital leads $23.4m investment in Ctrack
Sanari Capital, a South African private equity firm that invests in medium-sized and mid-market growth companies, has announced an investment in Ctrack, a telematics and fleet asset management business.
Sanari invested R250 million ($14.4 million) through its 3S Growth Fund alongside R156 million ($9 million) from its long-standing investor partner, 27four Investment Managers. Read the full article
5. Japanese LP commits to Novastar Ventures fund
The Japan International Cooperation Agency (JICA) has committed $10 million to the Novastar Ventures Africa People and Planet Fund III, managed by Novastar Ventures.
JICA is co-investing with British International Investment and other development finance institutions as well as financial and strategic investors in the private sector, including Japanese corporates. Read the full article
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