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. Mediterrania Capital Partners backs Morocco’s Cash Plus
Mediterrania Capital Partners has announced a €57 million investment in Moroccan financial services provider Cash Plus together with FMO and IFC.
Completion of the deal is pending regulatory approvals.
2. Adenia Partners acquires majority stake in South Africa’s Enfin
Adenia Partners has completed a majority investment in Enfin, a solar financing solutions provider serving commercial and industrial clients across South Africa, as the first investment from its fifth flagship fund Adenia V.
Enfin funds, maintains and insures solar solutions. It aims to own, build, and operate more than 100MW of solar assets over the next five years.
3. Sony launches Africa fund
Sony Group Corporation has announced the establishment of its Sony Innovation Fund: Africa, an initiative to back the growth of the entertainment industry in Africa.
The Sony Innovation Fund: Africa has been established to invest in seed to early-stage start-ups in the entertainment industry in Africa, including start-ups in the gaming, music, movie and content distribution sectors. Sony is initially allocating $10 million towards such investments.
4. Nigeria: ARM-Harith Infrastructure Fund in energy platform deal
The ARM-Harith Infrastructure Fund (ARMHIF) has made an investment of $18.75 million into Elektron Power Infracom (EPI), a Mauritius-incorporated decentralised energy platform company dedicated to the delivery of hybrid energy solutions across West Africa. EPI has existing assets in Nigeria.
EPI, sponsored by Elektron Energy Development Strategies Limited, comprises brownfield and greenfield power assets. It supplies power to commercial and industrial customers and directly to broad-based consumers under the embedded energy framework for power delivery in Nigeria.
5. IFC invests in new LeapFrog fund
The International Finance Corporation (IFC) has committed a $50 million equity investment to the LeapFrog Emerging Consumer Fund IV, managed by LeapFrog Investments.
The fund targets $1 billion in commitments and will represent the largest offering by LeapFrog to date. IFC’s investment in the fund will be made along with an additional $50 million, which will allow IFC to selectively invest alongside the fund in Leapfrog portfolio companies.
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