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. Agile Capital, RMB Corvest exit Feedem
Agile Capital, alongside RMB Corvest and other shareholders, have exited their investment in Feedem to the Empact Group.
Feedem is one of the largest independently-owned service providers within the South African catering industry, with more than 5,000 employees managing over 1,000 sites. Agile invested in 2017. Read the full article
2. Saviu Partners lands AfDB investment
The African Development Bank has approved an investment of €6.5 million in the Saviu II fund.
Saviu II backs technology start-ups through their seed phase and first institutional fundraising, mainly in French-speaking Central and West Africa.
The bank group will invest €4.5 million as equity and €2 million as a first-loss hedging tranche on behalf of the European Commission, under the Boost Africa Programme. Read the full article
3. Zambia’s Goldenlay changes hands as Phatisa and AgDevCo exit
Phatisa has sold its majority stake in Goldenlay, Zambia’s largest table-egg producer, to Vanden Avenne Group, a Belgian integrated feed and protein manufacturer. AgDevCo, a long-term debt provider to Goldenlay, is also exiting as part of the transaction. Financial terms of the transaction are undisclosed.
Goldenlay is a fully integrated table egg producer based in Zambia’s Copperbelt province, combining large-scale production, upstream feed farming and a nationwide route-to-market serving retail, informal trade and selected regional exports. Read the full article
4. Vantage Capital in South African solar deal
Vantage Capital, an African mezzanine debt fund manager, has made a R635 million (about $39.5 million) investment into Commercial Energy South Africa (CESA). The company is a subsidiary of SolarAfrica, a South African energy solutions provider. CESA holds commercial and industrial solar and battery energy assets developed by SolarAfrica. The investment was made alongside co-investor Greenpoint Capital.
The investment comprises a mezzanine facility which was used to exit Inspired Evolution from CESA, making SolarAfrica the 100% owner of CESA. Read the full article
5. Acumen backs Nigerian hibiscus exporter AgroEknor
Acumen has invested in AgroEknor, a Nigerian agribusiness company operating across the hibiscus value chain, from smallholder production to processing and export.
The company exports dried hibiscus to buyers in Mexico, the United States, and China, while also processing hibiscus into Madala, a locally distributed cordial drink that creates additional value and income opportunities within Nigeria. Read the full article
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