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. Adenia Partners makes its first investment in South Africa
Adenia Partners, a private equity firm investing in Africa, has acquired a majority stake in Herholdt’s, a distributor of low-voltage electrical products and solar products in South Africa. The financial terms of the transaction were not disclosed.
Established in 1964, Herholdt’s operates in Bloemfontein, Kimberley and George, and has recently opened branches in Johannesburg and Cape Town.
2. Egypt’s Trella raises $42m in debt and equity
Trella, a Cairo-based digital freight marketplace in the Middle East, North Africa and Pakistan (Menap), has closed a $42 million funding round, comprising $30 million new equity and $12 million debt facilities.
The equity element was led by Maersk Growth and Raed Ventures. Other participating investors include Algebra Ventures, Vision Ventures, Next Billion Ventures, Venture Souq, Foundation Ventures and Flexport. The debt facilities are being provided by Lendable – the next generation lending platform and other local financial institutions.
3. Acumen backs education sector in Kenya
Acumen, a global social impact investor, has made an investment in Ed Partners Africa, a financial institution that provides affordable private schools in Kenya with financing to enable the development of school infrastructure.
Approximately four million Kenyan students are educated in affordable private schools, which charge $300 or less per annum. However, more than 80% of these affordable private schools do not have access to bank loans. Ed Partners is filling this gap and providing schools critical access to credit that can help expand classrooms, purchase school buses, build sanitation facilities, and more.
Ed Partners is currently servicing 142 affordable private schools, which are educating 41,000 students. Ed Partners’ approach has proven successful: 71% of the schools receiving funding report an increased quality of their school.
4. FMO commits to AREF II
The Africa Renewable Energy Fund II (AREF II), a private equity fund investing in clean energy generating assets across sub-Saharan Africa (excluding South Africa), has raised €10 million from the Dutch entrepreneurial development bank, FMO. The fund is managed by Berkeley Energy. AREF II is the follow-on fund of the Africa Renewable Energy Fund (AREF), in which FMO invested in 2014.
5. Oasis Capital invests in Ghanaian design college
Oasis Capital Ghana, managers of the Oasis Africa VC Fund (OAF), has announced its investment in Joyce Ababio College of Creative Design (JACCD). JACCD is the leading design university college established by storied Ghanaian fashion designer Joyce Ababio. It offers tertiary and professional training in fashion and graphic design among other creative disciplines and operates in three locations in Accra and Kumasi. JACCD has trained many respected fashion designers and artists in Ghana and across Africa.
The investment will enable the school to expand its facilities with a modern campus as well as expand its degree and professional programs to include many creative disciplines targeted at the young African creative. With unemployment being a major bane of the economy, improving and expanding the training of African creatives with modern design approaches, critical thinking and entrepreneurial skills will unlock the potential of millions of youth to transform the economy. The expansion of the University College leverages the influential brand of Ababio to mark a major milestone in creative education in Ghana and the sub-region.
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