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. Inspired Evolution announces final close of Evolution III Fund
Inspired Evolution, a pan-African private equity firm specialising in clean energy investments, has announced the final close of its Evolution III Fund, securing total commitments of $238 million.
The final close saw additional commitments from Austrian development bank Oesterreichische Entwicklungsbank and the International Finance Corporation, further diversifying and strengthening the fund’s investor base. Read the full article
2. Actis-led consortium completes South African acquisition
A consortium led by Actis, a global investor in sustainable infrastructure, has completed the acquisition of a 100% stake in Swiftnet, a telecom tower portfolio in South Africa.
The Actis-led consortium, which includes international and local investors including South Africa’s Mineworkers Investment Company (MIC), now owns 70% of Swiftnet, partnering with Royal Bafokeng Holdings as the 30% shareholder. Read the full article
3. Côte d’Ivoire: KeysFinance Partners in IT deal
Abidjan-based KeysFinance Partners, through its investment vehicle Nouvelle Société Impact (NSI), has acquired a 100% shareholding in Label, a company involved in the integration of Sage solutions in Côte d'Ivoire.
Label will be merged with Impact, another NSI portfolio company. Impact is a major player in IT engineering and consulting in Côte d'Ivoire and the broader region. This merger with Impact doubles the size of the consolidated group. Read the full article
4. South Africa: Renew Capital invests in NjiaPay
Renew Capital has invested in NjiaPay, a South African payment service provider.
NjiaPay offers a single integration for merchants, eliminating the need to manage multiple integrations. Read the full article
5. Nigeria: Renewable energy lender raises $4m
Rivy, an AI-powered lender for Africa’s renewable energy sector, announced its rebrand from Payhippo and the closing of a $4 million pre-Series A funding round. This round comprises $2 million in debt and $2 million in equity, with backing from Africa climate-focused investors including All On and EchoVC Eco.
This new funding is expected to accelerate Rivy’s mission to enable widespread access to clean energy in Nigeria and beyond. Read the full article
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