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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Standard Bank advises on the sale of Chill Beverages and Inhle Beverages
Standard Bank acted as sole financial advisor to Chill Beverages and Inhle Beverages on the sale of the business. Read more
Here are summaries of the five most widely read stories the past week on Africa Private Equity News.
1. AfDB commits $10m to infrastructure fund
The African Development Bank (AfDB) has approved a $10 million concessional equity investment in the ARM-Harith Successor Infrastructure Equity Fund to increase access to reliable electricity and modern transportation infrastructure as well as energy-efficient technologies in Nigeria and the wider West Africa region.
The catalytic investment, to be sourced from the bank-managed Sustainable Energy Fund for Africa (SEFA), will leverage additional capital from local and international investors, as ARM-Harith targets raising $200 million for sustainable infrastructure and energy transition projects across West Africa, with a particular focus on Nigeria. SEFA is a multi-donor special fund that provides catalytic finance to unlock private sector investments in renewable energy and energy efficiency. Read the full article
2. South Africa: Futuregrowth invests in SME funding fintech
Futuregrowth Asset Management has announced a R150 million (about $8.4 million) investment into Sourcefin, a South African fintech and alternative funding provider dedicated to providing access to finance and specialist supply chain support for small and medium-sized enterprises (SMEs).
This milestone investment, made through Futuregrowth's High Growth Developmental Equity Fund (HGDEF), further cements the firm’s strategy in supporting high-growth businesses, including the likes of hearX, Yoco, Pineapple, Retail Capital, Ozow and Cash Connect. Read the full article
3. Proparco backs Equator Africa Fund
Proparco has announced a $5 million investment in the Equator Africa Fund, through its FISEA+ facility.
Equator invests in climate tech ventures in three sectors: energy, agriculture, and mobility. Read the full article
4. Kenya: Renew Capital invests in supply chain platform
Renew Capital has invested in Bulkbox, a tech-enabled platform that provides Africa’s businesses with fast and reliable access to business supplies at competitive prices.
BulkBox is addressing supply chain challenges faced by small and medium-sized enterprises (SMEs) in Kenya using a convenient and easy-to-navigate online platform. The company provides SMEs with reliable access to a wide range of essential supplies at wholesale prices, empowering them to operate efficiently and profitably. Read the full article
5. Zambia: Microfinance outfit secures $6.3m equity investment
EDFI Management Company (EDFI MC), IDH Farmfit Fund and Abler Nordic have announced an equity investment of about $6.26 million in Agora Microfinance Zambia (AMZ). This strategic investment aims to transform AMZ into a deposit-taking microfinance institution and expand its reach to rural Zambian communities.
AMZ is a non-deposit microfinance institution established in 2011 to improve financial access in rural Zambia. AMZ serves over 150,000 clients across Zambia's 10 provinces, focusing primarily on smallholder farmers and small traders. The institution operates through a network of 40 branches, reaching remote and underserved areas often neglected by other financial institutions. Read the full article
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