Here are summaries of the most widely read stories from the past week on Africa Private Equity News.
1. Harith consortium gets Competition Tribunal approval for FlySafair acquisition
Harith Aviation Consortium, led by Johannesburg-based infrastructure investor Harith General Partners, has received Competition Tribunal approval for its acquisition of a 100% stake in South African low-cost airline FlySafair. The airline will continue to operate independently under its existing management team. Read the full article
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Standard Bank supports the next chapter of Gautrain through landmark concession financing
Standard Bank Corporate and Investment Banking provided an integrated financing solution for Sihamba Sonke Mobility, the new concessionaire appointed to operate, maintain, upgrade and modernise the Gautrain Rapid Rail Link System. Read more
2. IFC discloses proposed $15m investment in Verod fund
The International Finance Corporation has disclosed a proposed equity investment of up to $15 million in Verod Capital Growth Fund IV, alongside a $10 million co-investment envelope. The fund is targeting $250 million and will invest in small and mid-sized companies in West Africa, primarily in Nigeria, Ghana, Côte d’Ivoire, Senegal and Cameroon. Read the full article
3. EIB commits $37.5m to Egypt’s Tanmiya Capital Fund II
The European Investment Bank, through EIB Global, has invested $37.5 million in Tanmiya Capital Fund II, helping the fund reach a final close of $130 million, above its $120 million target. The fund, managed by independent Egyptian investment firm Tanmiya Capital, provides growth capital to small and medium-sized companies in Egypt. 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. Kenya: Kenafric Group launches $10m corporate venture fund
Kenyan consumer goods company Kenafric Group has launched Kenafric Ventures, a $10 million corporate venture fund that will invest between $100,000 and $2 million in early-stage African consumer businesses. The fund is managed by corporate venture studio S2E Africa and was designed with support from FSD Africa. Read the full article
5. Climate Fund Managers secures $140m from Green Climate Fund
Climate Fund Managers has secured approval for $140 million in catalytic financing from the Green Climate Fund for Climate Investor Three, its global blended finance facility focused on industrial decarbonisation, including green hydrogen infrastructure in Southern Africa. The capital will help the facility mobilise additional private investment towards its $1.2 billion fundraising target. Read the full article
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Adenia Partners is listing Kenyan retailer Quickmart: We find out more
Kenyan retailer Quickmart, a portfolio company of Adenia Partners, has received regulatory approval for its IPO and listing on the Nairobi Securities Exchange, in a deal that values the company at about $230 million. Africa Private Equity News editor-in-chief Jaco Maritz spoke to Martha Osier, a partner at Adenia and a board member of Quickmart, to find out more. Watch the interview