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. AfricInvest backs The British University in Egypt
The British University in Egypt has sealed a strategic agreement with AfricInvest, a pan-African private equity firm.
This collaboration represents one of Egypt’s most substantial foreign direct investments in education, with AfricInvest committing around US$40 million.
2. IFC proposes investment in A.P. Moller Capital fund
The IFC has disclosed a proposed equity investment of up to $50 million in the Emerging Markets Infrastructure Fund II (EMIF II), established by A.P. Moller Capital to invest in critical transport infrastructure and renewable energy assets.
The fund’s strategy is aimed at tackling food security, supply chain disruptions, and global warming in select Asian and African countries.
The fund has a total committed capital target cap of $1 billion and a hard cap of $1.5 billion.
3. South Africa: Ascension Private Equity Fund I in food deal
Ascension Private Equity Fund I has acquired a 45% interest in Paul’s Muesli, a South African manufacturer of muesli, granola and cereal bars. Paul’s Muesli also sources, imports, and supplies a wide range of oats and dried fruit, seeds and nuts to the retail and wholesale breakfast cereal market.
Ascension will hold its interest alongside the founder and CEO, Paul Ruiter and the long serving management team. The transaction also enhances Paul’s Muesli’s empowerment credentials which will support its customers’ procurement strategies and aid in unlocking new opportunities for the business.
4. Tana Africa Capital exits education group
Tana Africa Capital has exited its investment in Morocco’s International Education Group (IEG). In its place, Globeducate, with its portfolio of over 60 bilingual and international schools across 12 countries, has secured shares in IEG, following regulatory approval from Morocco.
IEG, established in 2015, is a network of schools with more than 4,500 students across three schools in Morocco (Lycée Français Guy de Maupassant in Casablanca, Lycée Français Sophie Germain in Rabat, and École Trilingue Internationale in Casablanca) and one school in the Netherlands (International French School in Amsterdam).
5. Kasada acquires Cape Town hotel; to rebrand as Pullman
Kasada, an independent real estate private equity platform dedicated to the hospitality industry in Africa, has acquired the former Radisson Blu Hotel & Residence, the 214-room hotel in the centre of Cape Town, from a local real estate investment company.
The hotel will be the first one operated under the Pullman brand in South Africa and will offer extensive event and conference facilities that are flexible for large and smaller events, along with modern co-working spaces under the Wojo brand that will meet the increasing demand for flexible workspaces.
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