The 5 most popular stories on Africa Private Equity News the past week
Here are summaries of the five most widely read stories last week on Africa Private Equity News.
Here are summaries of the five most widely read stories last week on Africa Private Equity News.
1. EIB invests €25m in Amethis Fund III
The European Investment Bank has invested €25 million into Amethis Fund III, a pan-African fund providing private equity growth capital to medium sized companies.
Amethis Fund III will target companies supplying goods and services to low and middle-income populations in Africa. The target sectors include healthcare, business services such as logistics and IT, manufacturing and distribution including agribusiness and fast-moving consumer goods, non-banking financial services, and services related to infrastructure and energy. Read the full article
2. Adenia Partners exits Cresta Paints to Uhuru Investment Partners
Adenia Partners has exited its entire stake in Cresta Paints to Uhuru Investment Partners, a middle-market private equity firm focused on investing in West Africa. Cresta Paints, headquartered in Ghana, is a leading player in the automotive refinish and protective coatings sector.
Founded in 2002, Cresta Paints has developed a comprehensive product range that includes paints, clear coats, hardeners, thinners, and more. The company has established a leading market presence in Ghana, Nigeria and key francophone West African markets including Côte d’Ivoire, Benin, and Togo. Read the full article
3. SPE Capital plans to invest up to US$45m in Dislog Group
SPE Capital and Morocco-based consumer goods company Dislog Group have signed a memorandum of understanding allowing SPE Capital to acquire a minority share in Dislog for an amount which could reach 450 million dirhams (c. $45.2 million).
The transaction must be confirmed by additional due diligence and will be subject to authorisation from the competent authorities, states a press release from Dislog Group. Read the full article
4. Mediterrania announces new MD for West Africa
Mediterrania Capital Partners, a private equity firm focused on growth investments for SMEs and mid-cap companies in Africa, has announced the appointment of Maty Ndiaye as its new managing director for the West Africa region.
Ndiaye brings 18 years of investment experience, including 14 years in private equity across Africa. Her career began at Goldman Sachs in Global Investment Research. She then joined Kingdom Zephyr Africa Management in London, where she was involved in CNIA Saada's IPO in Morocco. Read the full article
5. OneOrder raises $16m from Delivery Hero Ventures, Norrsken22, others
OneOrder, the tech-enabled supply chain and logistics solution for the hotel, restaurant, and catering (HoReCa) industries in Egypt, has raised $16 million in equity and debt in a Series A round. The round is led by previous investor Delivery Hero Ventures, with participation from Norrsken22 as well as Egypt-based Nclude and A15. This follows a $1 pre-Seed and $3 million Seed round in February and December 2022, respectively.
Tamer Amer, CEO of OneOrder, said, “Like many supply chains across Africa and the MENA region, HoReCa is extremely fragmented and relies on manual processes involving multiple stakeholders. This results in businesses having limited price-transparency, a lack of access to quality stock-keeping units (SKUs), high waste and storage costs, and limited financing to grow their businesses.” Read the full article
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