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.

Africa Private Equity News’ Connect messaging service is now free. Directly message other private equity professionals in our community.

1. Download the free Africa Private Equity News app: Android | iOS (or search for it in the app store)

2. Tap on the top-right icon to log in or register a free account

3. Tap on bottom-right Connect icon to start chatting

---

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

1. Ghana: Injaro invests in out-of-home advertising company

Injaro Investment Advisors, a Ghanaian private capital fund manager, has announced the acquisition by the Injaro Ghana Venture Capital Fund (IGVCF) of Outdoor Holding Limited (OHL), which controls a majority stake in DDP Outdoor. Financial terms of the transaction were not disclosed.

DDP is an out-of-home (OOH) advertising company with 50 years of operational experience in Ghana. DDP operates about 1,400 advertising billboards across various OOH formats with nationwide coverage. The company serves a wide range of customers including multinationals and blue-chip companies with its services covering outdoor media rentals, airport advertising, printing and signage production as well as below-the-line advertising services. Read the full article

2. Inua Capital backs East African chocolate producer

Inua Capital has announced an investment in Uganda-based Equator Chocolate.

Equator Chocolate is a pioneer craft chocolate maker in Uganda and is known for its bean-to-bar chocolate, which has gained recognition as premium and quality chocolate on a global scale. Read the full article

3. EIB considers investment in AFC Capital Partners fund

The European Investment Bank has disclosed a proposed equity investment of $50 million in the Infrastructure Climate Resilient Fund, a private equity vehicle targeting investments primarily in climate resilient infrastructure in Africa.

The fund is managed by AFC Capital Partners, a 100% owned subsidiary of Africa Finance Corporation. Read the full article

4. Francophone Africa informal retail platform raises $3.2m

Maad, a tech and logistics platform for informal retailers in Francophone Africa, has announced the completion of its $3.2 million debt and equity seed funding round. The round was led by Ventures Platform, with participation from Seedstars International Ventures, Reflect Ventures, Oui Capital, Launch Africa, Voltron Capital and Alumni Ventures. Proparco and local banks participated in the debt financing.

Maad directly connects suppliers and small retailers of fast-moving consumer goods (FMCG). Its tech-driven solution allows retailers to order products at competitive prices with reliable delivery, while also benefiting from working capital loans. Maad leverages this distribution infrastructure to offer additional high-value services to brands, including data, software, and services for advertising, distribution, and market analysis. Read the full article

5. ARM-Harith announces new CIO

ARM-Harith Infrastructure Investment Limited has announced the appointment of Derek Chime as its chief investment officer, effective May 2024.

He joins ARM-Harith from Affirma Capital (formerly Standard Chartered’s private equity division), where he was primarily responsible for its operations in West Africa and managed a portfolio of about $400 million. Read the full article

* Subscribe to Africa Private Equity News’ monthly Dealmaker’s Log for a database of the reported investment deals, exits and fundraising closes. Click here for more information.