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. Apis Partners, Crossfin exit South African fintech company as part of Nedbank deal
South African banking group Nedbank has entered into a binding agreement to acquire 100% of fintech company iKhokha in an all cash deal for approximately R1.65 billion (about $94 million).
The transaction is subject to customary regulatory approvals and is expected to conclude in the coming months. Founded in 2012, iKhokha offers a suite of SME cash advance, payment and business management tools. The acquisition will see iKhokha become a wholly owned subsidiary of Nedbank, while continuing to operate under its own brand and leadership team.
The transaction also marks an exit for iKhokha’s long-standing investors – Apis Partners, Crossfin Holdings, and the International Finance Corporation. Read the full article
2. Egypt: PE firm buys majority stake in food business
Private equity firm Ezdehar Management has acquired a majority stake in Egyptian food company Kemet through its Ezdehar Mid-Cap Fund II.
Kemet produces pretzels and other savoury snacks for the domestic market and is seeking to expand its presence in the healthy snacking segment internationally. Read the full article
3. Mauritania: Enko Capital in banking deal
The Enko Capital-Oronte consortium has finalised the 100% acquisition of Société Générale Mauritania (SGM). This follows the granting of regulatory approval by the Central Bank of Mauritania.
This now fully effective transaction marks the exit of the Société Générale Group, SGM’s reference shareholder since 2007. Read the full article
4. Electric motorbike firm Ampersand closes funding to scale operations
Electric motorbike company Ampersand has closed a funding round to expand across East Africa, securing fresh working capital from British International Investment, the UK’s development finance institution. The round also brought in new equity from Seedstars Africa Ventures, Gaia Impact, the Rwanda Green Fund and Raspberry Syndicate, alongside increased commitments from existing backers including Ecosystem Integrity Fund, AHL Ventures, Acumen, HEHF and TotalEnergies.
The combined capital will support Ampersand’s expansion of its electric motorcycle fleet, battery swap network, and battery charging infrastructure across East Africa. Read the full article
5. Sahel Capital in Cameroon agribusiness deal
Sahel Capital, through its Social Enterprise Fund for Agriculture in Africa, has provided a $1.5 million working capital loan to Nulla Group.
Nulla is a Cameroon-based maize aggregator and processor. At its core, Nulla produces maize grain on a farm located in the West Region of Cameroon, while building an agribusiness ecosystem. The company’s aggregation model is central to its business as it connects smallholder farmers to a stable and fair market, empowering them with enhanced productivity through advanced technology and efficient logistics. Read the full article
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