The 5 most popular stories on Africa Private Equity News the past week

Here are summaries of the five most widely read stories last week on Africa Private Equity News.

---

Here are summaries of the five most widely read stories last week on Africa Private Equity News.

1. Phatisa exits West African palm oil business

Private equity firm Phatisa and Finnfund have announced the sale of their majority stake in Planting Naturals, a producer of organic and RSPO-certified palm oil, to PaLenDu, an affiliate of the Dutch Dekker Group.

The transaction terms are undisclosed.

Phatisa, through its Fund 1 – the African Agriculture Fund, and Finnfund first invested in Planting Naturals’ predecessor entity (known as Goldtree) in 2011. Read the full article

2. EBRD commits $40m to SPE Capital fund

The European Bank for Reconstruction and Development (EBRD) is committing up to $40 million to SPE PEF III, the new fund raised by SPE Capital, to support mid-cap companies in Egypt, Morocco and Tunisia.

The fund will seek to generate long-term capital gains from equity and equity-related investments in companies in these three North African countries, with the flexibility to also invest in selected countries in sub-Saharan Africa. Read the full article

3. Eos Capital invests in Namibia poultry business

Eos Capital has partnered with Africa Venture Partner Projects and Oyeno Poultry Industries to invest in Kadila Poultry Farming through its Euphrates Agri Fund, the only private equity agriculture fund in Namibia. Kadila Poultry will construct a six-house broiler farm between Windhoek and Okahandja with the capacity to produce 400 tonnes of poultry meat per month.

Oyeno Poultry, a Namibian-owned SME and the main sponsor of this project, has been a key player in the poultry production sector since 2019. Read the full article

4. Carlyle to acquire portfolio of hydrocarbon assets in the Mediterranean

Global investment firm Carlyle has agreed to acquire a portfolio of gas-weighted exploration and production (E&P) assets in Italy, Egypt and Croatia from Energean plc, a London-based company focused on developing resources in the Mediterranean. The transaction is subject to customary regulatory approvals.

This transaction will deliver to Carlyle a diversified portfolio of highly strategic gas-weighted assets with expected production equivalent to 47,000 barrels of oil per day and operations across Italy, Egypt, and Croatia, with well-advanced, large-scale developments in markets that are supportive of new gas development. The portfolio includes interests in Cassiopea, Italy’s largest gas field in terms of reserves, and Abu Qir, one of the largest gas producing hubs in Egypt. Read the full article

5. Egypt: Connect Money raises $8m seed funding

Connect Money, the banking-as-a-service fintech company focusing on embedded finance services, has closed its seed funding round of $8 million, led by venture capital firms Disruptech Ventures and Algebra Ventures.

Egypt-based Connect Money offers a comprehensive white-label card issuing platform that enables businesses to provide their customers with debit and credit cards without the need to develop fintech infrastructure or obtain regulatory licensing. Its state-of-the-art solutions encompass digital payments, instant financing, and access to a network of over 20,000 marketplace partners. Read the full article

Stay ahead in Africa's private equity and venture capital sector with Africa Private Equity News’ monthly Dealmaker’s Log – a database of reported investment deals, exits, and fundraising closes. Subscribe here