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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A MESSAGE FROM OUR SUPPORTERS

PwC provides advisory services to TIH on Clientèle's acquisition of 1Life Insurance

The PwC Corporate Finance team is pleased to have provided transaction advisory services to Telesure Investment Holdings (TIH) on the exchange of shares agreement between TIH and Clientèle, whereby Clientèle acquired 100% of 1Life Insurance (a wholly owned subsidiary of TIH) through an issue of shares in Clientèle to TIH. Read more

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

1. RMB Corvest acquires stakes in Nampak businesses in SA, Zambia and Malawi

RMB Corvest, in partnership with Dlondlobala Capital, have concluded a successful management buyout of Nampak Liquid Cartons (a division of Nampak Products), Nampak Zambia and Nampak Malawi.

Nampak Liquid Cartons is a separate business division under Nampak Products which manufactures, sells and supplies paper products used to package beverages, including Pure-Pak and Conipak cartons in South Africa. The core operations of the group are in South Africa and Zambia, with Malawi considered a smaller business. The businesses will be acquired by and become part of the newly formed Diversified Liquid Packaging Group. Read the full article

2. AgDevCo Ventures secures £25m to back early-stage agri-SMEs

AgDevCo has announced £25 million of funding from the UK’s Foreign, Commonwealth, and Development Office (FCDO) to establish AgDevCo Ventures, a new investment strategy in the group.

AgDevCo Ventures will make smaller investments (£0.75 million – £2.5 million) than AgDevCo's main investment strategy with a focus on early-stage agri-SMEs and with the aim of building the next generation of African agribusinesses. Initially, AgDevCo Ventures will invest in East African countries where AgDevCo is already present (including Kenya, Uganda, Tanzania, Rwanda). Over time, AgDevCo Ventures will expand to other countries and regions. Read the full article

3. South Africa: Infinite Partners exits to Bidvest

Infinite Partners, a South Africa-based private equity fund manager, has announced the exit of Synerlytic, which housed WearCheck as its remaining operating entity.

WearCheck is one of the leading condition monitoring specialists on the African continent, processing more than 800,000 samples per annum. While the company’s core business is the scientific analysis of used oil, fuel and other fluids, WearCheck also serves as a hub for many other predictive maintenance techniques. With 16 laboratories, WearCheck serves the mining, earthmoving, industrial, transport, shipping, aviation, and electrical industries through the scientific analysis of used oil, fuels, coolants, and greases. Read the full article

4. Incofin backs three African agribusiness companies

Incofin Investment Management has announced the first three investments made through its new Nutritious Foods Financing Facility, launched earlier this year.

Each selected company has received debt financing in the range of $500,000 – $1 million to scale up their production, increasing their capacity to supply lower-income local households in sub-Saharan Africa with nutritious food. Further, they will each be supported with tailored technical assistance managed by the Global Alliance for Improved Nutrition. Read the full article

5. Egypt: Gulf Capital exits glass manufacturer

Private equity firm Gulf Capital has sold its stake in Egypt-listed Middle East Glass (MEG) to the majority shareholder of the business, MENA Glass Holdings.

Gulf Capital’s growth investment enabled MEG to become the largest glass packaging manufacturer in the Middle East and the second largest in Africa. MEG serves several industries, including food, beverage, and pharmaceuticals and is currently one of the top five exporters in Egypt. Read the full article

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