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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South Africa: PwC Deals team advises Woolworths in acquiring in2food Holdings
The PwC Deals team has successfully supported Woolworths Holdings Limited in its acquisition of in2food Holdings – a strategic supplier to Woolworths Foods for over 30 years – from the founders, Old Mutual Private Equity, and other existing shareholders. Read more
Here are summaries of the five most widely read stories the past week on Africa Private Equity News.
1. Enko Capital-managed Rwanda SME fund receives $30m anchor commitment
The Rwanda Social Security Board (RSSB) has anchored the first close of the $100 million Rwanda SME Growth Fund, a Rwanda-focused vehicle managed by Enko Capital. RSSB has made a commitment of $30 million.
The fund is designed to offer long-term, flexible growth capital in local currency to small and medium-sized enterprises. Read the full article
2. Dodai closes $13m Series A to scale e-mobility in Ethiopia
Ethiopia-based electric mobility company Dodai has closed a $13 million Series A financing round – comprising $8 million in equity and $5 million in debt – to accelerate the rollout of electric motorbikes and battery swapping infrastructure in Ethiopia.
The round includes participation from Value Chain Innovation Fund, UTokyo Innovation Platform, Nagase & Co., Persistent ACV Fund, For Seasons, CBC Co., and Inclusion Japan, alongside British International Investment (BII). Read the full article
3. Vantage Capital provides $45m mezzanine facility to Egypt’s MIDO
Vantage Capital has provided $45 million of mezzanine debt funding to the International Group for Modern Coatings (MIDO), an Egyptian manufacturer of specialty paints and coatings.
The proceeds will be used for debt refinancing and working capital funding, which will enable MIDO to unlock its production capacity. Read the full article
4. Norrsken22 leads investment in Cape Town-based Shiprazor
Shiprazor, the Cape Town-based e-commerce merchant technology and logistics platform, has raised $2.65 million in seed funding to help African online merchants reduce delivery costs, improve conversion, and simplify fulfilment.
The round was led by pan-African venture capital firm Norrsken22, with participation from AAIC, E4E and Tremis Capital, among others. Read the full article
5. Proparco commits $5m to Novastar fund
Proparco has invested $5 million in Novastar Ventures’ Africa People and Planet Fund III, which has reached a final close of $147 million.
The fund targets companies that improve access to essential goods and services for everyday consumers, producers, and employees, while generating significant environmental impact – notably by reducing and avoiding greenhouse gas emissions, improving soil health, and enhancing biodiversity. Read the full article
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