The 5 most popular stories on Africa Private Equity News this week
Here are summaries of the five most widely read stories this week on Africa Private Equity News.
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Here are summaries of the five most widely read stories this week on Africa Private Equity News.
1. Uber leads Moove’s $100m Series B round
Moove – a provider of vehicle loans to ride-hailing, e-logistics and instant delivery drivers – has raised $100 million in a Series B funding round, valuing the company at $750 million. Uber invested in the round alongside existing investors Mubadala, The Latest Ventures, AfricInvest, Palm Drive Capital, Triatlum Advisors AG, and Future Africa.
The round will enable Moove to expand its revenue-based vehicle financing offering to 16 markets around the world by the end of 2025. A considerable portion of this expansion will focus on electric vehicles. Read the full article
2. Gaia Fund Managers in South African water deal
Gaia Fund Managers has entered South Africa’s rapidly growing R6 billion (c. $316 million) a year bottled water market with a supplier of clean drinking water, as local governments are failing to provide its citizens with safe drinking water across the country.
Through a transaction with Oasis Water’s CEO Johan Buys, Gaia is now a majority co-shareholder in the company with its Doornkloof mega bottling plant and national footprint spanning more than 80 franchisees, 364 franchise outlets, 250 retail shops, 94 express stores, six depots and 14 factories, which offer sustainable bottled water, empty bottle refills and water-as-a-service subscription options. Read the full article
3. Ghana: Injaro exits stake in animal feed producer
Injaro Agricultural Capital Holdings Limited, the impact investment fund managed by Injaro Investments, has sold its stake in Ghana’s oldest animal feed producer, Agricare, to Flour Mills of Ghana Limited. This strategic sale represents a full exit from Agricare after a holding period of close to eight years.
In 2015 Injaro invested in Agricare, a Kumasi-based company that manufactures and sells animal feed across Ghana. Read the full article
4. IFC invests in African VC fund
Africa-focused venture capital firm P1 Ventures has completed a second close of $35 million for its Fund II. The fund welcomed the International Finance Corporation (IFC) as its first public institutional investor.
P1 Ventures aims to support founders utilising emerging technologies, such as generative AI, to disrupt mainstream industries, from healthcare to retail and agriculture. Read the full article
5. Admaius Capital invests in medicated-cosmetics business Parkville
Admaius Capital Partners, an Africa-focused private equity investor, has made an investment in Parkville, a healthcare and wellness company in Egypt.
Admaius’ support will enable the company to expand regionally, leveraging its existing brands, strong pipeline, and Admaius’ extensive network. Read the full article
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