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. Competition commission blocks ECP’s Burger King South Africa deal
South Africa’s Competition Commission has prohibited a proposed transaction whereby ECP Africa, a private equity fund, intended to acquire Burger King South Africa and Grand Foods Meat Plant from Grand Parade Investments. The commission found that the merger would lead to a significant reduction in the shareholding of historically disadvantaged persons in the target firm, from more than 68% to 0% as a result of the merger.
2. Impact fund backs Ethiopian poultry company
OP Finnfund Global Impact Fund I, the first global emerging markets impact fund in Finland, has invested $5 million in EthioChicken, an Ethiopian poultry company.
Established in 2010, EthioChicken has become a forerunner and one of the largest poultry companies in East Africa. EthioChicken currently operates eight poultry farms and four hatcheries, which produce and supply young chicken for households in rural Ethiopia. EthioChicken is also a significant feed producer with its two feed mills. The company has been financed by Finnfund since 2017.
3. Kenya: Adenia Partners invests in Africa Biosystems
Adenia Partners, a private equity firm investing in Africa, announced it has completed the acquisition of Africa Biosystems Limited (ABL), a distributor of life sciences and clinical diagnostics equipment in East Africa. Financial terms of the deal were not disclosed.
Established in 1999, ABL is headquartered in Kenya with subsidiary offices in Uganda and Tanzania. The company’s instruments are used to conduct research and diagnosis across the animal, human and crop sectors with product applications that span molecular, cell and protein biology and DNA forensics. ABL’s customers fall into various end markets including government and non-governmental organisations, academic institutions, and the private sector.
4. Namibia: PE fund invests in tourism asset
Eos Capital, the Namibian private equity firm, will acquire The Mushara Collection through its Allegrow Fund, pending approvals from the Namibian Competition Commission and a land waiver application with the Ministry of Lands and Resettlement.
Mushara is a tourism asset located near Etosha National Park. Mushara comprises of three main lodges, namely Mushara Lodge, Mushara Bush Camp and Mushara Outpost. The Mushara Villa is part of the Mushara Lodge and is the most exclusive offering at Mushara with only two exclusive villas available.
5. Partech leads investment in e-learning platform
Almentor.net, a video e-learning platform in the MENA region, has announced raising $6.5 million in series B funding. Partech led this financing round, with the participation of Sawari Ventures, Egypt Ventures and Sango Capital, thus bringing the total financing that the company has garnered since its inception to $14.5 million.
Speaking about the company’s goals and endeavours, Ihab Fikry, CEO and co-founder of Almentor stated, “We are now leading the continuous video learning industry in the Arab region, and we have a responsibility that goes beyond our ambitions for Almentor Company. Our responsibility now is to work unceasingly to improve the industry as a whole in the Arab region, and this can only be achieved through gaining the confidence of the Arab learners in the value, professionalism and impartiality of the content provided by the platform, and working in line with the global learning trends.”
Are you seeking private equity or venture capital investment to grow your company? Africa Private Equity News now offers you the opportunity to connect with investors backing African businesses. Contact us at editor@africaprivateequitynews.com for our rate card and more information.