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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Stanbic Bank Botswana supports Norsad Capital with sustainability-linked financing
Stanbic Bank Botswana played a key role in a ZAR680 million (about $37.5 million) 6-year sustainability-linked financing deal for Norsad Capital. Read more
Here are summaries of the five most widely read stories the past week on Africa Private Equity News.
1. Salt Capital acquires stake in Pirtek Africa
Salt Capital has acquired a stake in Pirtek Africa, an established African-focused supplier and distributor of premium fluid transfer solutions.
Pirtek Africa’s core business revolves around the supply and maintenance of hydraulic and industrial hoses, fittings and related products catering to a wide range of industries, including agriculture, construction, mining, manufacturing and transportation. Read the full article
2. European DFI commits $15m to Ninety One’s Africa Credit Opportunities Fund 3
SIFEM, the Swiss development finance institution, has committed $15 million as part of the first close of Ninety One’s Africa Credit Opportunities Fund 3, which aims to raise a total of $500 million.
The fund will make private credit investments into companies in Africa and other emerging markets. SIFEM, managed by responsAbility Investments, will therefore play a key role as an anchor investor in providing capital to high-growth companies across Africa. Read the full article
3. Renew Capital announces first investment in Tunisia
Renew Capital has made its inaugural investment in Tunisia by backing Konnect, a secure and scalable payment gateway that promotes financial inclusion and innovation.
Konnect is a payment gateway pioneering digital payment solutions in North Africa, authorised by the Central Bank of Tunisia. The platform offers seamless payment links, e-commerce plugins and an API designed to cater to businesses of all sizes. Read the full article
4. LP commits up to $80m to RMBV North Africa Fund III
The European Bank for Reconstruction and Development has committed up to $80 million to the North Africa Fund III (NAF III), the first fund to be raised by RMBV as an independent fund manager.
NAF III will seek to generate long-term capital gains from equity and equity-related investments in mid-cap companies in Egypt, Morocco and Tunisia. Read the full article
5. Enko Capital announces new partner
Enko Capital, a pan-African asset management firm, has appointed Alix Pinel as a partner in its private equity division.
Pinel has joined from BNP Paribas where she was the head of group strategy. She brings 17 years of private equity and corporate development experience, including a decade in emerging markets. Read the full article
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