The 5 most popular stories on Africa Private Equity News this week
Here are summaries of the five most widely read stories this week on Africa Private Equity News.
1. Adenia Partners and Proparco to acquire corporate catering company
Adenia Partners, a private equity firm investing in Africa, has partnered with Proparco to buy Overseas Catering Services (OCS), a corporate catering and related services provider in Africa and the Middle East. Financial terms of the transaction were not disclosed.
OCS was established in 2009 by François Bonnot and René Lancien, founder of Ansamble Group, a leading caterer in France. OCS offers corporate catering services under the brand “Ansamble” to more than 180 clients across five countries: Morocco, Côte d’Ivoire, Senegal, Mauritania, and UAE. It has grown to become the second largest catering player in Morocco, employing 3,300 people across the organisation. Earlier this year, OCS acquired Proxirest, the fifth largest caterer in Morocco. In addition to its core catering services, the group offers cleaning services in Senegal under the Alizés brand, childcare services in Morocco under the A Deux Pas brand, and operates the Brioche Dorée and La Croissanterie franchises in Morocco.
2. TPG, Mastercard and QIA increase investment in Airtel Africa
Airtel Africa, a provider of telecommunications and mobile money services, with a presence in 14 countries across Africa, announced a second closing relating to the Airtel Money minority investment transactions with TPG’s The Rise Fund, Mastercard and Qatar Investment Authority (QIA) previously announced by the group.
With the conditions for second closing having now been met, TPG and QIA have each invested a further $50 million, and Mastercard a further $25 million, in the secondary purchase of shares in AMC BV from a subsidiary of Airtel Africa.
With these second closings, Airtel Africa will have received a total of $500 million cumulative proceeds from the minority stake sales in Airtel Money from the three investors. As previously reported, the proceeds from these secondary stake sale transactions will be used to reduce group debt and invest in network and sales infrastructure in the respective operating countries.
3. Super app Gozem raises $5m series A funding
Gozem, the multi-vertical super app platform in West and Central Africa, announced the closing of a $5 million series A round raised from corporate and institutional investors spread across four continents with specialties in healthtech, fintech, and mobility.
The main investors of the round include: AAIC, Thunes, Momentum Ventures, Innoport Ventures, CMC Ventures and Liil Ventures.
4. Brait, Old Mutual, Sanlam and Sphere to exit glass manufacturer
Consol Holdings has announced that its shareholders have entered into a sale and purchase agreement with the Ardagh Group, a global supplier of glass and metal packaging. Consol’s current shareholders are a private equity consortium including Brait, Old Mutual Private Equity, Sanlam Private Equity and Sphere, that acquired the business in 2007 and have continued to invest in Consol’s business growth over the past 14 years.
The Ardagh Group intends to acquire 100% of the ordinary shares of Consol Holdings for an equity value of R10.1 billion (about $634.9 million), which includes the company’s operations in South Africa, Nigeria, Kenya and Ethiopia.
Completion of the acquisition is subject to certain conditions, including regulatory approvals, which are expected to be obtained in the second quarter of 2022.
5. GreenTec Capital invests in Nigerian logistics company
GreenTec Capital Partners has invested in ShapShap, a Nigerian logistics platform.
ShapShap has developed an all-in-one platform connecting customers, drivers, and merchants and is currently facilitating last-mile deliveries in Abuja and Lagos.
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