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. A.P. Moller Capital announces new investors in second fund
A.P. Moller Capital has welcomed new investors to its Emerging Markets Infrastructure Fund II, including the German development financier DEG, the International Finance Corporation (IFC), and the Asian Infrastructure Investment Bank (AIIB). This group joins other institutional investors from Europe, the UAE and Asia.
The fund is expected to be split evenly between South/South East Asia and Africa and will predominately focus on onshore transport infrastructure (ports and storage, roads and rail, warehouses and distribution). Investments have already been made in three assets. Read the full article
2. Ghana: British International Investment backs outsourcing company
Growth Investment Partners (GIP) Ghana, an investment platform created by British International Investment (BII), announced its first investment in Ghanaian business processing outsourcing (BPO) company E-Services Africa Limited (eSAL). GIP will invest the Ghana cedi equivalent of $3.2 million in eSAL, to support the company’s growth and global delivery of cost-effective and high-quality outsourcing solutions for businesses.
GIP Ghana is a platform launched by BII in 2023, with an anchor capital commitment of up to $50 million, to provide long-term, flexible capital, primarily in local currency, to small and medium-sized enterprises (SMEs) across the country. GIP aims to address a critical gap in accessing finance for SMEs who occupy a key role in the Ghanaian economy. Read the full article
3. Botswana: ARCH Sustainable Resources Fund invests in manganese project
Giyani Metals Corp., developer of the K.Hill battery-grade manganese project in Botswana, has finalised a $26 million funding package to progress K.Hill to final investment decision.
Giyani has secured $10 million of funding from the ARCH Sustainable Resources Fund, a private equity fund focused on strategic, long-term investments in natural resources and renewable energy.
The $10 million ARCH investment fulfils a key condition to drawdown of the $16 million convertible loan facility secured by Giyani from the Industrial Development Corporation of South Africa Limited’s (IDC). Read the full article
4. Rwanda-based medical procurement platform raises investment
Viebeg Medical has announced a new investment from J&J Impact Ventures, an impact fund within the Johnson & Johnson Foundation, and Sanofi Global Health Unit Impact Fund.
Serving more than 1,000 hospitals, clinics, pharmacies and healthcare providers in Rwanda, Kenya and the Democratic Republic of the Congo, Viebeg is a healthtech company that provides medical supplies and equipment as well as pharmaceuticals through VieProcure, an innovative data-driven procurement solution. Read the full article
5. Gulf Capital exits sports nutrition distributor
Gulf Capital has completed the sale of 100% of AmCan – the exclusive distributor of many global sports nutrition brands across the Middle East and North Africa (MENA) region – to a regional FMCG distributor operating across the Middle East and Africa.
Gulf Capital invested in AmCan in 2016 from its third buyout fund, GC Equity Partners III, to gain exposure to the fast-growing wellness and sports and nutrition supplements market in the Gulf Cooperation Council (GCC) region. Read the full article
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