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 portfolio company makes healthcare acquisition
Best Health, a portfolio company of Amethis Maghreb Fund I, has finalised the acquisition of Mabiotech, a distributor of in-vitro diagnostic devices and reagents for public and private medical laboratories.
Best Health is involved in the distribution and instalment of medical equipment for hospitals and clinics in Morocco and Tunisia.
2. XSML announces first close of African Rivers Fund III at $54m
XSML, a fund manager active in Central and East Africa, announced the first close of the African Rivers Fund III (ARF III) at $54 million. ARF III is XSML’s third fund under management, after its maiden fund, the Central Africa SME Fund (CASF) and its second fund, African Rivers Fund (ARF), bringing total assets under management to $120 million.
ARF III targets growing, well-managed small and medium-sized enterprises (SMEs) in the Central and East African region covering Angola, the Democratic Republic of Congo (DRC), Uganda, the Republic of Congo and surrounding countries.
3. Nigerian healthcare investor plans to raise $1bn fund
Nigeria’s Flying Doctors Healthcare Investment Company plans to establish a $1 billion fund to back healthcare and wellness companies across Africa, according to a Bloomberg report.
The investment firm has so far invested in retail pharmacy chain Lifestores, healthtech company Helium Health and medical diagnostics platform MDaaS, among others.
4. Swedfund commits $12m to fund managed by Nairobi-based SunFunder
Swedfund, the Swedish Development Finance Institution, has committed $12 million to the Solar Energy Transformation Fund managed by SunFunder.
The investment gives Swedfund the opportunity to support the off-grid sector in sub-Saharan Africa and in Asia, by a debt commitment to the Solar Energy Transformation Fund, managed by Nairobi-based sector specialist SunFunder Inc. Swedfund’s capital will be used to provide loans to corporate borrowers active in the off-grid solar space – primarily in sub-Saharan Africa. The investment will support increased access to electricity as well as increased generation of renewable energy.
5. Metier invests in South African renewable energy business
Private equity firm Metier, through its most recent Sustainable Capital Fund, has made a substantial investment into South Africa based Broadreach Energy in a landmark renewable energy sector transaction.
The transaction is centred around Broadreach Energy’s existing commercial, industrial and small-utility scale renewable energy portfolio and operations, and provides a pipeline to invest around $25 million in renewable energy, energy efficiency and related projects across sub-Saharan Africa.
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