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. British International Investment commits to Alterra Capital fund
Alterra Capital Partners, an Africa-focused private equity firm, announced a $20 million commitment from British International Investment to its Alterra Accelerator Africa Fund (AAA Fund).
Alterra was formed in 2020 when the Carlyle Africa team spun out; subsequently the Anglophone team of Emerging Capital Partners joined Alterra.
BII’s investment will support AAA Fund’s capital deployment into a diversified portfolio of businesses providing essential consumer goods, services and business solutions, primarily in East Africa and Southern Africa. Read the full article
2. AgDevCo exits Zambian agribusiness company
AgDevCo has announced its exit from Saise Farming Enterprises, through an equity sale to Buya Bamba, a Zambian potato company.
Saise was established in 2016 as a specialised potato seed farm between AgDevCo, Buya Bamba and its managing partners. Saise has played a crucial role in developing Zambia’s potato sector by producing high-quality, early-generation seed potatoes which are carefully chosen for Zambia’s climate and grown under licence from Buya Bamba. Read the full article
3. South Africa: Summit Africa announces healthcare investment
Private equity firm Summit Africa has acquired 55% shareholding in St Mary’s Hospital in Mthatha, located in South Africa’s Eastern Cape province, from Life Healthcare Group.
Summit also has a majority interest in a healthcare management company Crestcare Hospital Group, which will manage St Mary’s Hospital. Read the full article
4. Alitheia Capital and Goodwell exit Baobab Nigeria
Alitheia Capital and Goodwell Investments have announced the first exit of their joint uMunthu Fund: Baobab Nigeria, a financial institution that provides banking services to individuals and MSMEs in underserved areas.
More than 12 years after investing in Baobab Nigeria (first via their GWAMDC fund and later uMunthu), Alitheia and Goodwell have now exited the investment. Read the full article
5. AfricInvest fund receives commitment from European LP
Swedfund has committed €15 million to the AfricInvest Small Cap Fund, a private equity vehicle focused on supporting small and medium-sized enterprises across Africa.
"This investment will allow Swedfund to expand its support for underserved businesses across Africa. AfricInvest aligns its investments with measurable sustainability outcomes, allowing us to drive economic growth, create jobs and promote greater inclusion. At the same time we set new benchmarks for responsible investing," says Sofia Gedeon, investment director for sustainable enterprises at Swedfund. Read the full article
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