The 5 most popular stories on Africa Private Equity News the past week
Here are summaries of the five most widely read stories last 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. African Development Bank invests in KawiSafi II Fund
The African Development Bank has approved a $10 million junior equity investment in the KawiSafi II Fund to help local businesses create and expand climate projects that aid vulnerable communities. The approved financing will be deployed from the Sustainable Energy Fund for Africa (SEFA), a catalytic financing facility.
KawiSafi II is a $200 million venture equity fund to address investment gaps in energy transition, productivity, mobility and logistics in sub-Saharan Africa. It includes a $10 million technical assistance facility to maximise climate impact and ensure better management of environmental, social, and governance risks. Read the full article
2. New Goodwell-managed fund invests in Kenyan potato company
Pepea, an impact investment fund from Oxfam Novib, managed by Goodwell Investments, has announced its first-ever investment: Gaea Foods, a potato-processing company targeting the B2B market, based in Nairobi, Kenya.
The fund is investing in Gaea in the form of venture debt, providing working capital to allow the company to better meet demand from new and existing customers. Read the full article
3. American PE firm acquires majority stake in South African-founded SYSPRO
American private equity firm Advent International has entered into a definitive agreement to acquire a majority ownership stake in SYSPRO, a global ERP software provider for the manufacturing and distribution industries.
South African-founded SYSPRO currently employs around 400 people globally and serves customers across six continents, with headquarters in the UK and South Africa. Read the full article
4. LP proposes $75m investment in Helios fund
The European Investment Bank (EIB) has disclosed a proposed equity participation of $75 million in the Helios Investors V fund, a pan-African private equity vehicle focusing on companies in sectors aligned with the Global Gateway's priorities.
The fund has a target of $750 million. Read the full article
5. Camco’s Spark closes initial senior debt round with $9m of investments
Symbiotics Investments and Triple Jump have become the latest investors to support Camco’s financing platform, Spark Energy Services, after signing a $9 million senior debt agreement.
Symbiotics Investments committed $5 million through a green bond, which the investment manager also arranged, whereas Triple Jump contributed $4 million through its Energy Entrepreneurs Growth Fund (EEGF). This completes a $9 million senior debt round for Spark, which was developed by Camco to support energy efficiency and captive renewable energy initiatives in sub-Saharan Africa’s commercial and industrial (C&I) sector. Read the full article
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