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.
A MESSAGE FROM OUR SUPPORTERS
PwC: The current M&A landscape in the South African Insurance industry
The first half of 2024 saw a measured uptick in dealmaking, both globally and in South Africa. Insurance-specific activity saw lower deal volumes, offset by higher deal values – driven, in part, by conflicting macro trends. But activity and the search for attractive deals continue. Read more
Here are summaries of the five most widely read stories the past week on Africa Private Equity News.
1. Nedbank Private Equity in South African packaging deal
Nedbank Private Equity and the Mineworkers Investment Company (MIC) have partnered to acquire a majority stake in South Africa-based Tropic Plastic and Packaging Industry.
As part of the transaction, the existing executive management team of Tropic also acquired a minority interest in the business. Read the full article
2. AfricInvest and Proparco provide financing to African eyewear company
AfricInvest and Proparco together approved financing for Lapaire Glasses, an optical retail chain offering eyewear at a fair price in West and East Africa (Côte d'Ivoire, Benin, Togo, Mali, Burkina Faso and Uganda).
$2.5 million in financing will be made available from AfricInvest and €450,000 from Proparco, through its Bridge by Digital Africa facility.
AfricInvest and Proparco’s financing will enable Lapaire to improve its territorial coverage in the countries where it currently operates, while ensuring the expansion of its network in Senegal, the Democratic Republic of the Congo and Tanzania. Read the full article
3. Amethis Fund III lands new LP
The U.S. International Development Finance Corporation (DFC) has approved a $40 million equity investment in Amethis Fund III. Managed by private equity firm Amethis, the fund will back middle-market companies within the healthcare, financial services, energy, manufacturing and distribution sectors across Africa.
Amethis Fund III announced its first close at €140 million in July 2023. The fund has a €450 million target. Read the full article
4. Vantage Capital concludes a €66m deal with Camusat
Africa-focused mezzanine fund manager Vantage Capital has closed a €66 million mezzanine investment in Camusat Holding, the proceeds of which will be used to refinance debt and fund the capital expenditure required for expansion of the group’s AktivCo division. The deal forms part of a broader €81 million financing package, arranged in partnership with European investment group Eurazeo.
Camusat is a telecommunications player involved in the deployment and management of telecom infrastructure. The group operates across 20 countries (including 15 on the African continent) and through two synergistic divisions, AktivCo and OpCo. Read the full article
5. The EuroMena Funds announces two North African exits
The EuroMena Funds, a private equity firm, has announced the successful exit from two portfolio companies: a pharmaceutical player in North Africa and Retail Holding in Morocco.
According to EuroMena, the pharmaceutical company, a leader in North Africa’s healthcare sector, operated within a particularly challenging economic landscape marked by currency devaluation, social unrest, and complex conversion issues. During EuroMena's investment period, the company evolved from a distributor to a major producer. Identifying a buyer willing to acquire a minority stake in this difficult geography, amid economic challenges, and able to transact in USD, proved to be a significant challenge. Read the full article