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. Old Mutual Private Equity exits to Sanlam
Old Mutual Private Equity (OMPE) has agreed to sell its stake in Medhold, a supplier of medical devices in Southern Africa, to Sanlam Private Equity. The investment was held through OMPE Fund IV. Read the full article
2. Mawingu secures $20m from Pembani Remgro Infrastructure Fund II
Mawingu, an East African internet service provider focused on rural and peri-urban areas, has raised $20 million from Pembani Remgro Infrastructure Fund II.
Mawingu’s CEO, Farouk Ramji, commented: “As a multi-country operator on the continent with dedicated presence in the rural and peri-urban markets, this latest funding announcement marks a significant milestone for Mawingu, moving closer to our goal of positively impacting 1 million people in Africa by 2028.” Read the full article
3. The Pura Beverage Company secures $15m investment
The Pura Beverage Company, headquartered in the UK and South Africa, has secured a R260 million (about $15 million) investment from a global investment firm.
Pura offers natural, low-sugar, and preservative-free drinks, seeking to reinvent the classic soda. Read the full article
4. Zambia: AgDevCo backs poultry producer
Specialist agriculture investor AgDevCo has made an investment in Hybrid, an integrated poultry producer located in Zambia.
Hybrid operates a vertically integrated model that spans the entire value chain from breeder farms to processed poultry products. It is part of the African Poultry Development Group which has operations in Zambia, Kenya, Tanzania and Uganda. Read the full article
5. Verod exits Nigerian pensions fund administrator; AUM grows 4.5x
Verod, the West African private equity firm, exited its investment in Nigerian pensions fund administrator Tangerine APT Pensions. Verod’s minority partner, APT Securities and Funds, is acquiring its stake.
In 2020, through its funds, Verod acquired 100% of AXA Mansard Pensions and 45% of APT Pension Fund Managers. In 2021, the two businesses were merged to create Tangerine APT Pensions. At the time of the merger, the combined assets under management (AUM) stood at approximately ₦100 billion (about $67 million at the current exchange rate). Read the full article
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