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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Standard Bank Group announces strong returns and increased dividends
Standard Bank Group has reported ZAR45 billion (about $2.5 billion) of headline earnings and a return on equity of 18.5%. Read more
Here are summaries of the five most widely read stories the past week on Africa Private Equity News.
1. Alterra and Phatisa acquire Actis’ stake in Java House
Private equity firms Alterra and Phatisa have signed agreements to acquire 100% of Java House Africa from emerging-market investor Actis, for an undisclosed sum.
Founded in 1999, Java House has grown into a household name, offering coffee and a diverse menu to customers across Kenya, Uganda, and Rwanda. The company operates a network of almost 100 outlets through brands including Java House, Java Express, 360 Degrees Pizza, Planet Yoghurt, and Kukito. The company also operates a vertically integrated commercial kitchen, coffee roastery, food service and distribution platform, serving over 5.5 million meals per annum and employing over 2,300 people. Read the full article
2. Equator announces final $55m fund close
Equator, a climate-tech venture capital firm focused on sub-Saharan Africa, announced the final close of its first fund with approximately $55 million in commitments. The fund will back Seed and Series A-stage, tech-enabled ventures in the sectors of energy, agriculture and mobility.
Notable investors in the fund include British International Investment, the International Finance Corporation, Proparco, the Global Energy Alliance for People and Planet, Shell Foundation and DOEN Participates. Read the full article
3. IFC announces proposed investment in Helios Fund V
The International Finance Corporation (IFC) has disclosed a proposed commitment of up to $75 million to the Helios Investors V fund, with a co-investment envelope of $50 million.
Helios V is a pan-African growth equity fund, seeking to invest in market-leading companies that enable, are enabled by, or benefit from the confluence of technological innovation and Africa’s attractive demographic and urbanisation trends.
The fund is targeting to raise total commitments of $750 million. Read the full article
4. FinDev Canada proposes investment in DPI fund
Canada's development finance institution, FinDev Canada, has disclosed a proposed investment of up to $35 million in the African Development Partners IV fund (ADP IV), managed by Development Partners International.
ADP IV is a 10-year private equity fund supporting established and growing businesses across Africa. Read the full article
5. Former Kobo360 CEO joins DOB Equity
East African investment firm DOB Equity has announced the appointment of Cikü Mugambi as its new investment director.
Most recently, she served as CEO of Kobo360, a digital logistics platform. Read the full article
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