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 $4m in debt instruments.
Milost Global Inc, an American Private Equity firm headquartered in New York has announced that it is forming a subsidiary company in Africa, Milost Bank Africa Limited
Africa-focused private investment firm Helios Investment Partners, the leading, has acquired Fertilizers and Inputs Holding B.V. which holds Louis Dreyfus Company’s Africa-based fertilizers and inputs operations.
Baker McKenzie’s latest quarterly Cross-border M&A Index shows that there were 17 inbound M&A deals in Africa in the second quarter of 2017.
Section 12J Venture Capital company, Grotech has rebranded as Kalon Venture Partners. For the last 18 months, the business did extensive screening of hundreds of companies and three new deals are imminent
Siemens has announced the purchase of Crabtree Electrical Accessories in South Africa and its associated Lesotho business from Powertech Industries Limited.
VAIDS is a golden opportunity for Nigerian companies to regularise their tax affairs - Sage West Africa
Nigerian companies and entrepreneurs that don’t have their tax affairs in order should act now to take advantage of the government’s Voluntary Assets and Income Declaration Scheme (VAIDS).
Prudential plc, one of the oldest and most strongly capitalized life insurance companies in the world, has acquired a majority stake in Zenith Life of Nigeria and formed exclusive bancassurance partnerships with Zenith Bank in Nigeria and Ghana.
Fountain Technologies Ltd (FTL) has entered into a strategic business alliance with Ferri Group, a Luxembourg based company, which will see the two companies jointly bid and tender for industrial and electrical projects.
The Abraaj Group, a leading investor operating in growth markets, announced that it is set to acquire a 100 per cent stake in Java House Group East Africa’s leading coffee-led casual dining chain.
The Board of Directors of the African Development Bank (AfDB) has approved a US$ 15 million investment in Shore Capital Fund III, a multinational Private Equity Fund which promotes financial inclusion.
The East Africa region attracted more than Sh113.7 billion ($1.1 billion) funds from Private Equity (PE) between 2015 and 2016, a new study has revealed.
ACM Gold has announced the imminent upgrade to MetaTrader5 (MT5) in the company’s quest to deploy exceptional trading platforms in the ever changing forex trading world.
JSE-listed Hulisani Limited, an investment holding company focused on energy opportunities has appointed Marubini Raphulu, Hulisani’s chief investment officer as CEO with effect from 1 July 2017.
Ascendis Health recently declared the acquisitions of Sunwave Pharma SRL and NHP Natural Health Pharma unconditional, together with Cipla Agrimed Proprietary and Cipla Vet Proprietary.
Barclays PLC has announced its intention to sell 187 million ordinary shares in Barclays Africa Group, which represents approximately 22% of Barclays Africa’s issued share capital.
Actis, a leading growth markets investor, has announced that its portfolio company MédiS, a major pharmaceutical company based in Tunisia, has acquired Winthrop Pharma Senegal (WPS) from Sanofi.
AFRI-RES, a unique facility to support climate proofing of Africa’s long-lived infrastructure investments, was given significant impetus with the formal approval of funding of 5 million Euros by the Nordic Development Fund (NDF) for its programme activities.
Foreign investors have been snapping up South African banking stocks, enticed by the cheapest valuations relative to emerging-market peers since 2011, even as the country’s downgrade to junk deepened a broad equity selloff.
Casablanca and Nairobi rank leading destinations for Fortune 500 companies establishing international headquarters
The Middle East Africa (MEA) region has become increasingly important for the majority of global Fortune 500 companies, according to a new report released by Infomineo, a global business research company specialising in Africa and the Middle East.
UK based asset management company Enko Capital has announced the launch of Enko Africa Debt Fund (EADF), with $200m assets under management (AUM).
UNIC Insurance Plc was yesterday delisted and replaced by UNIC Diversified Holdings (UDH) Plc at the Nigerian Stock Exchange as the insurance company completed its transformation into a financial services holding group.
Africa Finance Corporation, a pan-African multilateral development finance institution and project developer, has issued a US$500 million 7 year Eurobond.
New research shows private equity activity in Africa will inject Billions of US dollars or sustainable investment over the next five years. Private equity deals in Africa are growing from a low base equivalent to 0.18% of Africa's GDP in 2016.
Lidya, a leading fintech platform based in Nigeria, has announced that it has closed a US$1.25 million seed funding round to further its mission of easing access to finance for small and medium enterprises (SMEs) across Africa.
Maria Auma is a Ugandan entrepreneur and investment specialist. Her company, Blue Luxury Investments, specializes in connecting investors with viable businesses.
The Tony Elumelu Foundation (TEF) is proud to announce the selection of 1,000 African entrepreneurs, creating the 3rd cohort of the 10-year $100 million TEF Entrepreneurship Program.
Biogaran, a French pharmaceutical company specialized in generic and biosimilar medicines, and a subsidiary of Servier, have announced the takeover of all the activities of Swipha, a Nigerian company that manufactures and distributes pharmaceutical products known for their quality.
Shareholders of Britam Holdings have approved the sale of 10.37 per cent stake to International Finance Corporation, the World Bank Group’s private investment and lending arm, for Sh3.55 billion.
Listed diversified Pan-African financial services group The Sanlam Group, through its subsidiary Sanlam Emerging Markets (SEM), has reached an agreement with PineBridge Investments (“PineBridge”), a global multi-asset class asset manager, to acquire PineBridge’s majority stake in PineBridge Investments East Africa Limited in Kenya (PIEAL).
Bowmans advises on one of the first significant financing by a private equity credit fund in sub Saharan Africa
Pan-African law firm Bowmans recently advised Helios Credit Partners on a landmark transaction representing one of the first significant financing by a private credit fund in sub-Saharan Africa. The transaction was one of the largest debt financing secured by a Namibian company in the private sector.
Dele Babade retained as advisor to Carlyle’s Sub-Saharan African Fund Global alternative asset manager
The Carlyle Group has announced that Dele Babade has been retained as an Advisor to Carlyle’s Sub-Saharan African Fund (CSSAF), effective immediately.
South African based payments service provider Zoona has raised US$1 million from the International Finance Corporation (IFC) and the MasterCard Foundation to strengthen the reach of its mobile banking services in Zambia.
Ascendis Health, the high growth health and care brands group, is to purchase the southern African veterinary operations of Cipla India for R375 million.
Innoventures has just opened applications for the fourth cycle of its accelerator program ‘Startup Reactor’ in partnership with VC4A after a successful third cycle and its grand finale last December.
Indigenous investment banking firm, Dusk Capital, has entered into an agreement with the International Investment Management Group (IIMG Africa Ltd) that will give the Ghanaian company access to over 300 international mutual funds across the world.
Private equity firms Amethis Finance and Metier have partnered to acquire a minority stake in Kenafric food industry. The three companies – Kenafric, Amethis and Metier have been working together on a promising acquisition.
Korede Ologun of Helix Securities Limited interviews with Africa Business Communities on past and present economic situation in Nigeria:
The African Export-Import Bank (Afreximbank) is committed to providing financial and advisory support to assist Sao Tomé and Principe achieve its structural transformation which focuses on expanding and diversifying its blue economy.