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. Helios in $40m food deal
Egypt’s Raya Foods has secured an investment of approximately $40m from Helios Investment Partners.
Through this investment, Helios will acquire 49% of Raya Foods’ shares. The investment aims to boost Raya Foods’ capabilities in the manufacturing and export of frozen foods and expand its global presence. Read the full article
2. Phatisa and partners sell 100% interest in Rolfes
Phatisa, through its Phatisa Food Fund 2, along with Masimong Chemicals and Sabvest Finance and Guarantee Corporation, have agreed to sell their combined 100% stake in Rolfes Holdings – a South Africa-based provider of food ingredients and diversified chemicals – to Solevo, a pan-African speciality chemicals distributor. Solevo will also sell a 12.5% interest in Rolfes to Afropulse Group, a long-term capital investor, as part of a partnership to continue growing the business. Financial terms of the transaction were not disclosed.
Phatisa, alongside Masimong and Sabvest, delisted Rolfes from the JSE in 2020, enabling management to focus on private equity aligned growth targets. Read the full article
3. DPI leads $110m investment in Moniepoint
African fintech company Moniepoint has raised $110 million in Series C equity financing, led by Development Partners International’s African Development Partners (ADP) III fund. Other new investors include Google’s Africa Investment Fund, Verod Capital and Lightrock.
Founded in 2015 by Tosin Eniolorunda and Felix Ike, Moniepoint (formerly TeamApt) began by offering infrastructure and payment solutions to banks and financial institutions. It has since evolved into Nigeria’s leading business banking provider, processing over 800 million transactions each month with a total monthly value exceeding $17 billion. Read the full article
4. Janngo Capital fund reaches final close at $78m
Pan-African venture capital firm Janngo Capital has announced the final closing of its second fund at $78 million, 20% beyond its initial target.
Janngo Capital Startup Fund’s anchor investors – such as the European Investment Bank and African Development Bank – doubled down by reinvesting in this final closing.
New investors include the Mastercard Foundation Africa Growth Fund; the U.S. International Development Finance Corporation; the International Finance Corporation; and ANAVA (Smart Capital), a Tunisian fund of funds. Read the full article
5. AgDevCo invests in Ghanaian fish producer
Specialist agriculture investor AgDevCo has signed a long-term investment of $10 million with Tropo Farms, a tilapia fish producer in West Africa.
AgDevCo’s investment will finance the construction of a modern processing facility and other production equipment. This will increase the company’s capacity to 30,000 tonnes within five years. Read the full article
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