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. Amethis announces investment in Energy Transfo
Private equity firm Amethis has announced that it has acquired a minority stake in Energy Transfo, a player in the design and manufacturing of solutions for the electricity and renewable energy sectors in Morocco.
Founded in 1989 and taken over by the Taariji family in 1994, Energy Transfo is a Moroccan company specialising in the manufacturing and sale of transformers, electrical cabinets and compact urban substations, products that are at the heart of electricity distribution.
2. Mediterrania receives €20m commitment from Italian LP
Mediterrania Capital Partners has announced that Cassa Depositi e Prestiti S.p.A. (CDP Group) will be investing €20 million in its new MC IV fund to support midcap companies in North and sub-Saharan Africa.
CDP Group is the Italian National Promotional Institute. Its main goal is to accelerate the industrial and infrastructural development of Italy and boost its economic and social growth. CDP Group also actively participates in international cooperation initiatives to support sustainable development in emerging markets.
3. AgDevCo invests in East African flower producer
East African Magical Farms (EMF), a carnations producer with farms in Ethiopia and Kenya, has secured investment from AgDevCo to expand into two further farms in the Naivasha area of Kenya.
EMF currently produces on 60 hectares for export to Europe, the Middle East and the Far East. With the planned expansion in Kenya, EMF will substantially increase its production and assortment by opening at least two new production locations.
4. AIIM doubles equity commitment to renewable energy platform NOA
African Infrastructure Investment Managers (AIIM), an infrastructure private equity manager and a subsidiary of Old Mutual Alternative Investments, is doubling its equity commitment to NOA Group Holdings to a total of $180 million to fast-track renewable energy in South Africa.
This follows the company’s announcement in late 2022 that it was investing $90 million to establish a renewable energy platform to provide integrated net-zero energy solutions to commercial and industrial customers in Africa.
5. SA SME Fund, RMB Ventures, others back Secha Capital’s second fund
Secha Capital announced a first close of its second fund, with R300 million (c. $15.9 million) in investments from RMB Ventures, 27four Investment Managers, The SA SME Fund and Caleo Capital.
Secha Capital was founded by Nombuso Nkambule, Brendan Mullen and Rushil Vallabh in 2017. Its operator-investor model places highly skilled human capital resources into its portfolio companies.
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