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. Namibia: Eos Capital backs kelp farm
Climate Fund Managers (CFM) and Eos Capital have announced a partnership between Climate Investor Two (managed by CFM), Kelp Blue and the Namibia Infrastructure Development and Investment Fund (NIDIF), managed by Eos Capital, for the commercial development of the world’s first large-scale kelp farm.
Investment of approximately $60 million (N$990 million) will be required over a five-year period. This will be funded by both international and local Namibian sources through Climate Investor Two and NIDIF, pending investment approvals.
2. Axian commits to African Development Partners III fund
Axian, a diversified group operating in multiple industries, has invested in the African Development Partners III fund, managed by Development Partners International (DPI).
Established in Madagascar 150 years ago, Axian is present in five industries, namely energy, real estate, telecoms, financial services and innovation.
With over $1.6 billion in assets under management, DPI invests in businesses, across the continent, positioned to benefit from the fast-growing emerging middle class.
3. CDC commits additional $40m to Liquid Telecom
CDC Group, the UK’s development finance institution and impact investor, has announced an additional $40 million equity investment into Liquid Telecom, Africa’s largest independent fibre, data centre and cloud technology provider. This marks CDC’s second investment in the company, following a $180 million equity investment in 2018.
CDC’s additional investment is made as part of Liquid Telecom’s wider fundraise where the company attracted $307 million through a rights issue to shareholders. This investment will support Liquid Telecom’s plan to further expand its pan-African data centre operation business, Africa Data Centres, and consolidate its position as the leading data centre operator on the continent.
4. ShEquity makes investment in Kenyan insect protein company
Investment firm ShEquity has announced an investment in Ecodudu Limited, a Kenyan waste-to-value company.
Ecodudu uses a proprietary innovation to recycle organic waste into high-protein animal feed and organic fertiliser using the black soldier fly. The business harnesses insects (nature’s recycling agents) to address global issues which include waste management, demand for protein and environmental conservation.
5. East Africa: Swedfund invests $1m in e-commerce platform
Swedfund, the Swedish development finance institution, has invested $1 million in Kasha Global, an e-commerce platform with subsidiaries in Rwanda and Kenya. Kasha’s platform enables access, education and confidential distribution of women’s contraceptives, menstrual and health products, primarily to underserved women. Kasha’s innovative multichannel platform supports both offline and online e-commerce, providing customers with the ability to purchase products digitally using any type of mobile phone, with or without internet access.
“Social stigma around sexual and reproductive health in Africa is very common leading to women not getting access to the right information and safe products to make empowered decisions about their health … Kasha is a women-founded and women-led tech company, that strives to make it easier for women, especially low-income women, to access genuine products and information for their health and personal care,” said Maria Håkansson, CEO of Swedfund.
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