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. South Africa: Vantage Capital backs business process outsourcing company

Vantage Capital, Africa’s largest mezzanine debt fund manager, has made a R346 million (c. $18.7 million) investment into Procera Group, a South African business process outsourcing (BPO) services provider.

Vantage’s investment comprises the acquisition of a significant minority equity stake from the Procera founders as well as the provision of a mezzanine facility to support future strategic acquisitions by Procera. Read the full article

2. Enko Capital exits Zambian company to South Africa’s Mergence

Enko Capital Managers, managers of the Enko Africa Private Equity Fund (EAPEF), has exited its investment in Madison Financial Services, an insurance and microfinance services group in Zambia.

EAPEF’s exit of Madison is by way of the sale of its entire equity and debt investments in the company to subsidiaries of Mergence Investment Managers, a Cape Town-based asset manager. Read the full article

3. Verod-Kepple Africa Ventures closes first fund at $60m

Verod-Kepple Africa Ventures (VKAV) has closed its first fund at $60 million. Key institutional investors in the fund include SBI Holdings, Toyota Tsusho Corporation, Sumitomo Mitsui Trust Bank, Japan International Corporation Agency, and Japan ICT Fund. New investors joining the final close include SCM Capital from Nigeria and a few additional institutional investors from Japan, including Taiyo Holdings and C2C Global Education Japan.

VKAV is the first fund by Verod-Kepple Africa Partners, a joint venture between Verod Capital Management, a West African private equity firm investing in mid-sized enterprises across sectors, and Kepple Africa Ventures.

With a focus on growth stage companies, VKAV is tackling the growing gap of funding available, particularly from locally-based investors, for companies moving to Series A and B stages in Africa. Read the full article

4. The Rohatyn Group sells BevCo to India’s Varun Beverages

The Rohatyn Group has announced the sale of The Beverage Company (BevCo), a South African-based beverage manufacturer and distributor, to India-based Varun Beverages, a leading bottler for PepsiCo.

BevCo was established in 2018 through the acquisition and merger of Little Green Beverages and SoftBev. Read the full article

5. Ghana: Africa50, Oikocredit, Injaro, Verdant, I&P in Zeepay deal

Ghanaian fintech company Zeepay has announced the completion of an equity investment by pan-African investment firms Africa50, Oikocredit, Injaro, Verdant Capital Hybrid Fund, and Investisseurs & Partenaires (I&P). The funds will go towards expanding Zeepay’s operations in Africa and the Caribbean.

Zeepay is a payment infrastructure company with a footprint in more than 20 countries globally. Read the full article

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