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.
** For the best experience, download the free Africa Private Equity News app Android | iOS **
A MESSAGE FROM OUR SUPPORTERS
[PwC] The power of strategic acquisitions
In a landscape defined by disruption, companies must evolve to remain competitive. Read more
Here are summaries of the five most widely read stories the past week on Africa Private Equity News.
1. AIIM exits three South African renewable energy investments
African Infrastructure Investment Managers (AIIM), through its IDEAS Fund, has exited stakes in three South African renewable energy assets, in a transaction valued at over R750 million (about $41.8 million). The assets include two solar photovoltaic (PV) projects and one wind project, all developed under South Africa’s Renewable Energy Independent Power Producers Procurement Programme.
The transaction involves the sale of AIIM's 21% stake in the Jeffreys Bay Wind Farm, a 138 MW facility located in the Eastern Cape, to existing shareholders in the project Enzani and Usizo. Additionally, AIIM has exited its 10% holdings in both the Kalkbult (73 MW) and Linde (38 MW) solar PV projects in the Northern Cape, with Gaia Renewables 1 portfolio, listed on the Cape Town Stock Exchange, acquiring these stakes. Read the full article
2. BII and partners launch SME fund in Zambia
British International Investment (BII), Zambia’s National Pension Scheme Authority (NAPSA) and Swedfund today announced the launch of Growth Investment Partners Zambia (GIP Zambia). This investment company is designed to provide long-term, flexible capital, primarily in local currency, to small and medium-sized enterprises (SMEs) in Zambia.
GIP Zambia has secured an initial fundraising close of $70 million. With $37.5 million from BII alongside anchor commitments of $17.5 million from NAPSA and $15 million from Swedfund, GIP Zambia aims to address the persistent financing gap that has long constrained the growth of Zambia’s SME sector. Read the full article
3. AfCFTA credit fund makes first investment
The Credit Fund of the AfCFTA Adjustment Fund has made its first investment, extending a $10 million senior secured amortising loan to Telecel Global Services.
The fund is one of three under the AfCFTA Adjustment Fund, set up by the AfCFTA Secretariat and the African Export-Import Bank to support governments and companies adjusting to the African Continental Free Trade Area.
Telecel Global Services, a subsidiary of the Mauritius-based Telecel Group, provides wholesale voice and SMS services and enterprise connectivity solutions to more than 250 telecom operators across Africa and globally. Read the full article
4. Kenya: Sahel Capital in aquaculture deal
Sahel Capital, a food and agriculture-focused investment manager in sub-Saharan Africa, has closed a $1 million loan facility in Camino Ruiz, a Kenyan-based fish processing and distribution company. The facility comprises $800,000 for capital expenditure and $200,000 for working capital, and was provided through Sahel’s Social Enterprise Fund for Agriculture in Africa.
Camino Ruiz provides affordable, value-added fish products to the local retail market. Founded in 2008 by Joseph Mureithi, the company aims to meet the rising demand for high-quality, ready-to-eat tilapia fish products. Its core operations – filleting, freezing, and pre-cooking – are carried out at a processing facility in Nairobi. Camino sources tilapia from over 4,000 smallholder fish farmers along the shores of Lake Victoria, as well as from its affiliated company, Global Tilapia Husbandry. Read the full article
5. Adenia Partners announces new CIO and partner
Private equity firm Adenia Partners has announced two promotions in its leadership team.
Florent de Boissieu has been appointed chief investment officer while Mack Schow has been promoted to partner.. Read the full article
Stay ahead in Africa’s private equity and venture capital sector with Africa Private Equity News’ monthly Dealmaker’s Log – a database of reported investment deals, exits, and fundraising closes. Subscribe here