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. AfricInvest fund receives €26m commitment
Swedfund has invested €26 million in AfricInvest’s Financial Inclusion Vehicle (FIVE), a platform designed to back financial institutions across Africa.
FIVE was established in 2017 by AfricInvest. Other investors include the Norwegian, Danish, Dutch, German and Belgian development finance institutions as well as African multilateral development institutions and pension funds. Read the full article
2. Cathay AfricInvest Innovation Fund leads $4m investment in Paytic
Paytic, a fintech company modernising payment operations for banks, fintechs, and processors, has secured $4 million in seed extension funding. The investment round was led by AfricInvest through its Cathay AfricInvest Innovation Fund, with participation from Build Ventures, Axian Group, Mistral, Island Capital Partners, and Concrete.
Founded in 2020 by Imad Boumahdi, Paytic's solution automates and modernises day-to-day operations for financial institutions, enabling scalability of payments and eliminating manual processes. It is supporting clients in Morocco, UK, Middle East, and North America. Read the full article
3. Côte d’Ivoire: Sahel Capital in agribusiness deal
Sahel Capital, an investment manager specialising in the food and agriculture sectors across sub-Saharan Africa, has provided a $500,000 working capital loan to Tafalo, through its Social Enterprise Fund for Agriculture in Africa (SEFAA).
Tafalo, a Côte d’Ivoire-based agribusiness company, aggregates soya bean, sesame, and rice, which are then distributed across local and regional markets. Read the full article
4. Verdant Capital closes additional investment in LOLC Africa
Verdant Capital has announced that its Verdant Capital Hybrid Fund has made an additional $4.5 million investment in LOLC Africa, bringing its total commitment to $13.5 million. The latest transaction follows an initial $9 million investment completed in June 2023.
Both investments are structured as holding company loans and are being channelled to LOLC Africa’s operating lending subsidiaries across Zambia, Rwanda, Egypt, Kenya, Tanzania, Nigeria, Malawi, Zimbabwe, Ghana and the Democratic Republic of Congo. Read the full article
5. South Africa’s Public Investment Corporation commits to Africa50
Africa50, the pan-African infrastructure investor and asset manager, has announced that the Public Investment Corporation (PIC), representing the Government Employees Pension Fund of South Africa, has made an investment of $40 million, becoming its 36th shareholder.
The PIC is South Africa’s state-owned asset management company with $141.5 billion of assets under management. Read the full article
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