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
Standard Bank finalises sale of soft drinks maker to India’s Varun
The soft drinks maker will join one of the world’s largest PepsiCo bottling networks. Read more
Here are summaries of the five most widely read stories the past week on Africa Private Equity News.
1. Novastar fund reaches final close at $147m
Novastar Ventures announced the final close of its third fund, Novastar Ventures Africa People and Planet Fund III, at $147 million.
The fund, which invests in businesses that align the economic interests of Africa’s growing population with planet-positive technologies, represents a 40% increase on Novastar’s previous Fund II. Read the full article
2. Amethis buys majority stake in Côte d’Ivoire’s Ademat
Amethis has acquired a majority stake in Ademat, a Côte d’Ivoire-based provider of power security solutions, buying out SPE Capital’s controlling position.
Founded in 1983, Ademat covers the entire value chain of power security solutions – from power generation, stabilisation and transformation, to procurement, installation, maintenance, technical assistance, consulting, training and rentals. Read the full article
3. AfDB backs Alterra fund with up to $15m
The African Development Bank has approved an equity investment of up to $15 million in the Alterra Africa Accelerator Fund (AAA Fund).
The AAA Fund targets high-growth, mid-sized enterprises across multiple sectors in Africa. Read the full article
4. Proparco commits $15m to PE fund
Proparco has committed $15 million to the Adenia Entrepreneurial Fund, a pan-African private equity fund dedicated to small and medium-sized enterprises and mid-market companies.
The fund will invest in eight to 10 companies, with ticket sizes ranging from $10 million to $20 million, across a diversified range of sectors throughout Africa. It will primarily focus on acquiring majority stakes in businesses with strong local foundations and proven potential for regional expansion. Read the full article
5. Oikocredit and GCPF provide $10m facility to Sawa Energy
Oikocredit has partnered with the Global Climate Partnership Fund to provide a $10 million debt facility to Sawa Energy, a developer and operator of commercial and industrial (C&I) solar and battery systems in East Africa.
The facility will enable Sawa Energy to scale the rollout of distributed solar and battery systems for commercial and industrial clients, supporting businesses seeking reliable and cost-effective alternatives to grid electricity and diesel generation. The financing is expected to support the deployment of 35MW of solar capacity across 250 projects for C&I businesses over the next 36 months. Read the full article
Want to know who is raising, investing, and exiting in Africa? Get Africa Private Equity News’ monthly Dealmaker’s Log – a database of reported investment deals, exits, and fundraising closes. Subscribe now