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. South Africa: Metier invests in Mertech Marine
Metier, through its Sustainable Capital International Fund II (SCII), has invested significant growth and replacement capital in Mertech Marine, a South African company involved in the recovery and recycling of out of service submarine telecommunications cables.
Mertech has been pioneering the commercial recovery and recycling of out-of-service telecommunication cables since the early 2000s. As the only turnkey provider of recovery and recycling capabilities in the world, Mertech has processed more than 105,000 km of undersea cable and cleared tens of thousands of tonnes of cable from cable depots around the globe. Read the full article
2. Goodwell makes first investment in Uganda
Goodwell Investments recently acquired a stake in the Agent Banking Company of Uganda (ABC), a technology-focused financial services firm with a mission to “improve lives by facilitating access to quality and affordable financial services”.
Goodwell invested in ABC through uMunthu II, its €150 million fund providing venture capital to impact-driven companies throughout Africa. The funding will enable ABC to pursue ambitious goals for growth, including expanding its client base, increasing agent coverage, and deploying new services. Read the full article
3. Uncap launches €30m Africa fund
Investment firm Uncap has launched Unconventional Capital, a €30 million fund dedicated to providing non-dilutive, revenue-based financing to early-stage small and medium-sized enterprises (SMEs) across Africa.
Unconventional Capital will collaborate with key partners, including SAIS, an ag-tech initiative funded by the German Federal Ministry for Economic Cooperation & Development (BMZ), as well as O-Farms, a circular agriculture programme run by Bopinc and funded by the Ikea Foundation. Read the full article
4. BluePeak Private Capital in $25m African agribusiness deal
BluePeak Private Capital – an alternative asset management firm supporting the growth of scalable businesses in Africa – has announced a $25 million investment in Robust International, a pan-African processor and exporter of agro-commodities with a focus on cashew nuts and sesame seeds.
The investment will contribute to expanding Robust’s processing capacity in main operating markets, including Nigeria, Côte d’Ivoire, Burkina Faso, and Mozambique. Read the full article
5. Fund for Export Development in Africa in electric boat racing deal
The Fund for Export Development in Africa (FEDA), the development impact investment arm of African Export-Import Bank (Afreximbank), has announced a strategic investment in Team Drogba, competing in the inaugural E1 Series, the world’s first-ever all-electric boat racing championship.
Co-owned by African football icon Didier Drogba and Lilium Capital Group, Team Drogba’s participation in the E1 series is expected to not only raise Africa’s profile on the global sporting stage but also support the growth of Africa's blue economy. According to FEDA, the team’s participation in the competition will help highlight sustainability and marine ecosystem restoration and general environmental awareness. Read the full article
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