Here are summaries of the most widely read stories from the past week on Africa Private Equity News.
1. AIIM-backed consortium reaches financial close on Gautrain concession
African Infrastructure Investment Managers (AIIM), through its IDEAS Managed Fund, is participating in the consortium that has reached financial close on the new 15-year Gautrain concession in South Africa. AIIM is investing through the AIIM-Motseng joint venture, which forms part of Sihamba Sonke Mobility, the consortium awarded the Post-2026 Gautrain Concession. Read the full article
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PwC: Making deals work harder, faster and smarter
In today’s fast-paced business environment, organisations are under pressure to adapt, grow, and create value quickly. Jan Groenewald, Africa Deals Leader at PwC South Africa, explains why a deal is not a strategy, but a way to accelerate one. Read more
2. Metier reinvests in Frogfoot and Vox
Private equity firm Metier, alongside other investors, has reinvested in South African fibre and internet businesses Frogfoot and Vox through its Metier Capital Growth Fund III. Read the full article
3. Africa Go Green Fund provides $18m debt facility for Rwanda cold storage
Africa Go Green Fund, managed by Cygnum Capital, has completed financial close on an $18 million senior debt facility for Cold Solutions Rwanda. The funding will support construction and working capital for a new cold-storage facility in the Kigali Prime Economic Zone. Read the full article
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Dealmaker’s Log: A database of African private capital transactions
The Dealmaker’s Log supports deal origination, market mapping, and tracking individual investors or funds over time. Filter to the country, sector, investor or transaction type you cover; compare activity across sectors, geographies and years; or follow the private capital cycle from fundraising through to exits. Access the Dealmaker’s Log here
4. A.P. Moller Capital to exit Nigerian gas investment Powergas
A.P. Moller Capital has agreed to sell its investment in Nigerian compressed natural gas business Powergas to a consortium led by Ardova and including Diadem Energy. A.P. Moller Capital originally invested in Powergas through Impala Energy Holdings in April 2019 as the first investment from its Africa Infrastructure Fund I. Read the full article
5. Summit Private Equity Fund II takes 40% stake in Virtual Farmer
Summit Private Equity Fund II, managed by Summit Africa, has acquired a 40% interest in Virtual Farmer, an agricultural supply and finance marketplace operating across South Africa, Namibia, Zambia and Mauritius. Read the full article
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Building a private equity business in Nigeria
Femi Ogunjimi co-founded the Nigerian financial firm CardinalStone in 2008. He now focuses on its private equity arm, CardinalStone Capital Advisers, which invests in West African companies. He spoke to Africa Private Equity News editor-in-chief Jaco Maritz about his journey as an entrepreneur and investor. Read/watch the interview