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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Zambia's Copperbelt Energy raises $90bn with Standard Bank’s backing
Standard Bank South Africa has assisted Zambian energy company Copperbelt Energy Corporation Plc in raising US$90 billion in the debt capital market. Read more
Here are summaries of the five most widely read stories the past week on Africa Private Equity News.
1. SPE Capital in Egypt deal
SPE Capital, a private equity firm focused on Africa and the Middle East, has announced an investment in Tamweely, a non-banking financial services company in Egypt specialising in serving micro, small, and medium enterprises (MSMEs). The acquisition was made by SPE Capital’s private equity fund, SPE PEF III, in a consortium with the European Bank for Reconstruction and Development, Tanmiya Capital Ventures, and British International Investment.
Established in 2017, Tamweely has emerged as a leading player in the Egyptian non-bank financial services sector, offering financing and ancillary services dedicated to empowering MSMEs. Read the full article
2. Norfund backs Meridiam's sustainable cities fund
The Norwegian development finance institution, Norfund, is investing NOK 235 million (about $20.6 million) in The Urban Resilience Fund (TURF), which focuses on sustainable urban infrastructure in rapidly growing cities.
TURF is managed by Meridiam, an infrastructure firm managing over $22 billion globally across 12 funds. Read the full article
3. Renew Capital invests in Power Financial Wellness
Renew Capital has invested in Power Financial Wellness, a platform providing workers with the tools to manage their finances effectively.
The fintech company, with customers or subsidiaries in Kenya, Uganda, Tanzania, Zambia, Rwanda and India, offers an all-inclusive financial platform that helps workers in both formal and informal sectors to improve their financial health. Read the full article
4. Egypt: EBRD invests in Paymob
The European Bank for Reconstruction and Development (EBRD) has disclosed a signed equity investment into the Series B financing round of Paymob, a payment processing company in Egypt.
Founded in 2015, Paymob is the leading payment processing company in Egypt offering a full product suite for SME payment processing needs. Read the full article
5. Namibia Hydrogen Fund Managers appoints CEO
Mercia Geises has been appointed as the CEO of Namibia Hydrogen (Nam-H2) Fund Managers, an infrastructure fund manager focused on incubating Namibia’s green hydrogen sector.
Nam-H2 Fund Managers is co-owned by Climate Fund Managers, the Environmental Investment Fund of Namibia and Invest International. Read the full article
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