Private Equity Funds managed by Blackstone has announced a partnership with an experienced management team, to create Zarou, a company fully owned by Blackstone.
In response to a range of corporate scandals, speculation and innuendo that have characterised South African financial markets over the past year, the Johannesburg Stock Exchange (JSE) is embarking on a public consultation process.
Habitat for Humanity’s Terwilliger Center for Innovation in Shelter, BDO EA and Pangea have launched the ShelterTech 2018 program in Kenya.
VC4A has announced the eight Africa ventures that have been selected for the 2018 VC4A Venture Showcase – Series A.
Citizen owned companies have been urged to spread the risk of ownership among a large group of shareholders through availing shares publicly.
October is already proving to be a great month for the South African business and economy, maybe even greater. With only a week into the month, three South Africans have been appointed for senior positions in the ICT, aviation and engineering sectors.
Egypt’s first mobile community platform for the real estate industry iCommunity has announced $600K in Series A funding from Algebra Ventures, Egypt’s largest venture capital fund.
South Africa-based fintech company, Yoco, today launches Yoco Capital. Yoco Capital provides small businesses with fast, efficient access to a cash advance.
Microsoft has teamed up with the Lions@frica initiative of the African Technology Foundation to empower the startups finalists that will be pitching at DEMO Africa 2018.
The Nairobi space will also host the new East African office of its parent brand, a global leader in media intelligence and AI-Driven Outside Insight, Meltwater, who is also expanding into the region.
Prodigy Finance announces that it has raised R14.39 billion in the last twelve months in available debt financing.
Naspers’ Classifieds business, OLX Group, has announced an investment of ZAR 1.4 billion in South Africa’s specialised car buying service, Webuycars.
Global alternative asset manager The Carlyle Group has completed the acquisition of a majority stake in AK Life Sciences, Abacus, a pharmaceutical company in East Africa.
As part of employee volunteer programme, Samsung has arranged the Global Start-up Acceleration Programme in South Africa, in partnership with (SEDA) and NGO Nangila to mentor start-ups in various fields to support the sustainable growth of entrepreneurs.
Renew, a private equity impact investing firm, has announced expansion into its second African country, Uganda.
Vantage Capital, Africa’s largest mezzanine debt fund manager, has announced that it has fully exited its investment in New GX Capital, a one hundred percent black family owned investment holding company in South Africa.
At first glance, it seems business as usual, but that could not be farther from reality. Business has never been more positive, rapid, nor disruptive.
Francis Vesta is Senior Investment Analyst at Itanna, an offshoot of the Honeywell Group in Nigeria.
Yoco, the South African-based Point of Sale payments provider, has raised a Series B round of US$16M led by Partech, a Venture Capital firm based in Silicon Valley, Europe and Africa.
Four businesses that are shaking up financial services have been named as finalists in AlphaCode’s recently launched accelerator programme, AlphaCode Accelerate.
The Capital Markets Authority (CMA) Act Cap 84 has been reprinted as a way of updating it to incorporate all amendments effected by the CMA Amendment Act, 2011 and the CMA Amendment Act, 2016.
The Chartered Institute for Securities & Investment (CISI) and the Chartered Institute of Bankers of Nigeria (CIBN) are delighted to announce the signing of a cooperation agreement in London.
The Forum will be held in Kigali, Rwanda on 5-8 September 2018
Efforts by the Nigerian Stock Exchange (NSE), to woo multinational companies in the telecoms, and oil and gas sectors to list on the nation’s bourse may continue to ‘hit a brick wall’.
AlphaCode, an initiative of Rand Merchant Investments, has set aside R16 million to identify a new generation of financial services entrepreneurs through its AlphaCode Incubate initiative.
Workforce Holdings Limited a diversified services group today released interim results for the six months ended 30 June 2018.
African Infrastructure Investment Managers (AIIM), one of Africa’s largest infrastructure-focused private equity fund managers, has acquired through its IDEAS Managed Fund - stakes in nine new solar and wind power plants in South Africa.
DEMO Africa has announced the thirty startup finalists for the 2018 edition of the annual conference. The startups were selected following a few months of innovation roadshows, city tours and virtual adjudication across different countries in the continent.
This has been perhaps one of the busiest weeks for African startups seeking funding to improve the operations or products.
Africa Green Revolution Forum pulling together stakeholders in the agricultural landscape, will host a Dealroom connecting investors with business owners
SunCulture, a Kenyan-based technology company and a leader in solar water pumps and irrigation solutions for small holder farmers, has closed an investment round with the EDF Group.
Mansur M. Nuruddin is a founding Partner of MNCapital Africa Advisors, a financial advisory firm focused on the African market.
President Uhuru Kenyatta of Kenya announced in Nairobi that his country would double its shareholding in pan-African infrastructure investment platform Africa50, increasing its current investment to US$100 million.
Growthpoint will retain its primary listing on the JSE and will not issue any new shares in connection with its secondary listing on A2X. There is no cost, risk, or additional regulatory compliance for Growthpoint as a result of its secondary listing on the A2X.
The Anchor Group, a South African financial services holding company, today became the ninth firm to have a secondary listing on A2X.
Vantage Capital announces today that it has provided $10 million of mezzanine funding to Cap Tamarin, a mixed-used, residentially-focused village located on the sought-after west coast of Mauritius in a seaside village called Tamarin.
Domestic and cross-border Initial Public Offering capital raising by African issuers in the first half of 2018 increased by 33% year-on-year to USD 396 million, while volume grew by 25% to 5 IPOs.
Orange has partnered with Google through Orange Digital Ventures (ODV), the Group's corporate venture fund, to join forces in financing the best startups.
Nigeria’s Piggybank.ng, an online and mobile app savings platform targeted at African Millennials, today announces that it has closed on Seed Funding of $1.1M.
Cell C has largely secured its capital expenditure funding for at least the next seven months, according to chief strategy officer Robert Pasley.
[Nigeria] Turner Wright Limited receives $150 million financing from Milost Global to grow African market
Turner Wright Limited a Nigerian company providing solutions in animal health, animal nutrition and hygiene has executed a Milost Equity Subscription Agreement financing facility with Milost Global Inc for $150 million financing.
Old Mutual Private Equity, one of the largest and most established private equity players in South Africa, has announced the acquisition of a 50% interest in Medhold Group, a prominent end-to-end supplier of world-class medical devices.
Private equity fund AfricInvest has officially become a shareholder in diversified financial services company Britam after acquiring a 14.3 per cent stake.
The Rise Fund, a global impact investing fund managed by growth equity platform TPG Growth, has signed an agreement to acquire a stake in Cellulant, a digital payments provider that reaches 40 million people across 11 African countries.
Orange Digital Ventures invests in Africa’s Talking, leading distributor of mobile communication and payment APIs to developers
Upon completion, Africa’s Talking plans to accelerate its internationalisation to support its clients’ expansion strategies
MFS Africa, a leading Pan-African FinTech company, today announced a $4.5m Series B funding round led by LUN Partners Group, a China-based global investment management group.
mSurvey, the mobile-first consumer feedback platform for businesses and consumers in Africa, today announces a Series A round of USD$3.5m.
Driving Trade, Unleashing Investment and Enhancing Economic Development
[South Africa] Former DiData CEO invests R10m into emerging social networking platform, Gather Online
Gather Online has today announced former Dimension Data chief executive, Brett Dawson, will be joining its board of Directors as Chairman, accompanying his investment of R10 million to support the company’s planned international expansion.
Westbrooke Alternative Asset Management, South Africa’s largest Section 12J manager, has confirmed that it has recently successfully closed its 2018 fiscal year fundraise, with over R565 million raised across four S12J investment strategies.
The Republic of Malawi has become the second Southern African member country of Africa Finance Corporation, Africa's leading infrastructure development finance institution.
Tecnicil Indústria, a beverage company in Cape Verde has announced that AFIG Funds, a leading African private equity fund manager, through AFIG Fund II, completed an investment in the Company in April 2017.
US-based private equity investor Milost Global has signed a deal to invest $250 million in Resort Savings & Loans, a financial services company.
Challenges and opportunities abound in Africa’s energy sector, with increase in mergers and acquisitions, Baker McKenzie forecast
Baker McKenzie’s Global Transaction Forecast for the Energy Sector shows that total M&A value in the energy sector in Africa and the Middle East was US$ 4.4 billion in 2017.
Sendy, an on-demand delivery services platform operating across Kenya, has completed a Series A investment round, led by DOB Equity. DOB Equity will invest alongside CFAO, member of the Toyota Group, and other private investors.
The Board of the African Development Bank has approved a loan ZAR 140 million to the African Local Currency Bond Fund to further enhance the Fund’s portfolio and promote the development of domestic capital markets across the continent.
African Reinsurance Corporation announces its membership of Africa Finance Corporation (AFC), and becomes the first multi-lateral financial institution to invest in AFC.
At a time when African startups are struggling with access to information on funding and transforming ideas to successful businesses, even as investors express growing appetite for the African startup market, BaobabFund is bridging this information gap.
nChain Group, the leading blockchain research and development firm, has taken an equity stake in Centbee, a Bitcoin wallet provider that makes it easy for global consumers to acquire, hold and spend Bitcoin with retailers and other merchants.
African startups have been on a meteoric rise, positioning themselves as key players in the African economies, boosting innovation, and businesses while creating employment
International Finance Corporation becomes anchor investor in Partech Africa, largest venture capital fund focused on Africa
IFC, a member of the World Bank Group, has helped Partech Ventures launch a €100 million fund that is expected to become the largest venture-capital fund focused on digital-technology start-ups in sub-Saharan Africa.
Partech Ventures has launched Partech Africa fund, which has secured above $70 million commitments toward its target size of $120 million, making it the first technology fund of such size from a top tier international venture capitalist.
TPG Growth, the middle market and growth equity investment platform of global alternative asset firm TPG, has signed a definitive agreement to acquire a majority stake in TRACE, the afro-urban music and entertainment media.
American private equity firm Milost Global Inc. has announced that, together with its African subsidiary, Isilo Capital Partners it has closed the acquisition of a 100 percent interest in Primewaterview Holdings Nigeria Limited.
Private equity-backed Viathan Group has issued Nigeria’s debut 10-year corporate infrastructure bond in local currency to raise 10 billion naira ($32 million) at a yield of 16 percent to fund power assets.
AfDB, Nordic Development Fund, Global Environment Facility and Calvert Impact Capital partner in $55m investment into Off-Grid Energy Access Fund
On December 15, the African Development Bank’s Board approved a US $30-million investment in the Facility for Energy Inclusion Off-Grid Energy Access Fund.
MTN Group, Africa's biggest mobile phone operator, has said that it assigned a $231 million shareholder loan to phone tower group, IHS Holding Ltd, impacting its 2017 profits.
The real estate firm, Land LayBy was founded by Dr. Peter Tole, a Kenyan medical doctor resident in Australia, in 2014. Land LayBy is a unique combination of assistance to Africans in diaspora and accelerating economic growth on the continent.
Capital raised in domestic listings by African issuers increased for the second year in a row, according to research in the latest Global Cross-Border Index from Baker McKenzie.
Farmcrowdy, a Nigerian digital agriculture platform which allows Nigerians to venture in and sponsor agriculture, has announced that it had closed on seed funding of $1 million from international and local investors.
[Nigeria] NNPC assures local investors of support as multi-million naira tank farm opens in Ogun State
The Nigerian National Petroleum Corporation (NNPC) will continue to offer unflinching support to indigenous private investors in the nation’s Oil & Gas Industry.
Africa Finance Corporation (AFC) and Harith General Partners, acting on behalf of its portfolio company Aldwych Holdings Limited, are pleased to announce final close of the merger of their respective electricity generation assets into a new operating company, Anergi Holdings Limited.
Westbrooke Alternative Asset Management is now South Africa's largest Section 12J manager, looking after almost half of the capital invested in S12J funds in the country.
Tullow Oil is pleased to announce that it has completed the refinancing of US$2.5 billion of Reserves Based Lending credit facilities.
The Board of Directors of the African Development Bank (AfDB) has approved a US$ 15m equity participation in Africa Capital Works Fund.
The Nigerian National Petroleum Corporation has secured a total of $3.7bn in Alternative Financing Agreement in the last three years.
Vantage Capital, Africa’s largest mezzanine fund manager, announced today that it has provided $12.5 million of funding to Purple Capital, a prominent Nigerian real estate company and financial service provider.
Innovate Ventures, the Somali tech and business startup accelerator launched in partnership with VC4A, Telesom and the Work in Progress! Alliance, had their second cohort of 10 startups from Somaliland and Somalia graduate from their programme.
Four black-owned South African financial services startups each won R1-million last night at a pitching event hosted by AlphaCode.
Zambia has become the first Southern African member country of Africa Finance Corporation (AFC), a leading development finance institution for infrastructure in Africa.
“We have to give more attention and support to emerging African entrepreneurs, if the continent’s poverty, inequality and unemployment challenges are to be addressed.”
Depositary Receipts of the African Export-Import Bank started trading on the Stock Exchange of Mauritius yesterday, with the Bank topping the list of issuers in terms of capital raised prior to a listing.
Rx Healthcare Fund, an Africa-focused healthcare private equity fund currently under establishment, today announced that GE Healthcare is set to become an anchor limited partner in Rx.
The African Development Bank Group approves €15m equity investment in the Mediterrania Capital Fund III
The AfDB has approved a EUR 15 million equity investment in the Mediterrania Capital Fund III under the management of an experienced team of Mediterrania Capital Partners with strong transactional and operational experience in private equity.
FSDH Merchant Bank has announced that AFIG Funds, a leading African private equity fund manager has, through the Atlantic Coast Regional Fund (ACRF), completed an investment in the Bank.
TheAfrican Export-Import Bank (Afreximbank) has entered into a memorandum of understanding (MOU) to provide a $600-million line of credit to the Reserve Bank of Zimbabwe (RBZ).
Africa is a place of real business opportunity that the world should be alive to. I know, having built businesses that now operate in 20 African countries and through creating a program over 10 years that is funding and mentoring 10,000 African entrepreneurs.
[South Africa] Rand Merchant Investment’s AlphaCode makes fourth investment: Luno, international bitcoin platform
Luno today announced its expansion into 35 new markets across Europe, and R120 million Series B funding round, led by London-based Balderton Capital, one of Europe’s leading venture capital firms.
Once the last loose ends have been tied up, Kenya will be celebrating its largest debt and equity restructuring transaction yet: USD 2.2 billion restructuring of Kenya Airways PLC.
[South Africa] Arise acquires 12% stake in Equity Group Holdings and becomes single largest shareholder
Arise is pleased to announce the acquisition of a 12% stake in Equity Group Holdings Limited, the parent company of Equity Bank.
Improvon Group, one of South Africa’s most established logistics and warehouse property specialists, is poised to disrupt the sector in key sub-Saharan distribution markets, following a recent joint venture with Actis.
Kalon Venture Partners, formerly Grotech, and Smollan Group SA both acquired a minority stake in South Africa’s fastest growing shopping community, SnapnSave.
The African Export-Import Bank’s (Afreximbank) in today Lagos met with leading Nigerian investors to push for strong participation in the Bank’s $300 million equity offering, for which it is using depositary receipts backed by its Class “D” shares.
The 12 banks involved in the $1.2 billion 9Mobile loan are setting aside a large part of the debt from their books ahead of the December 31 end-date for the fiscal year.
WDB Investment Holdings has increased its stake in Seed Engine (incorporating Seed Academy and the WDB Seed Fund) from 35% to 51%, officially confirming Seed Engine as a proudly 51% black women owned company.
The African Export-Import Bank, an investment grade rated multilateral financial institution, is opening its shareholding to the investing public through the issuance of Depositary Receipts.
Nigerian owned and San Francisco based payment startup Flutterwave has announced it secured over USD10 million from Greycroft Partners and Green Visor.
Twiga Foods, the Kenyan business-to-business food supply platform announced today that it has successfully raised a Series A funding round including $6.3m in equity and $4m in debt instruments.
Milost Global Inc, an American Private Equity firm headquartered in New York has announced that it is forming a subsidiary company in Africa, Milost Bank Africa Limited
Africa-focused private investment firm Helios Investment Partners, the leading, has acquired Fertilizers and Inputs Holding B.V. which holds Louis Dreyfus Company’s Africa-based fertilizers and inputs operations.