Private Equity |

AfricInvest exits Tunisia’s Cotugrain Hortimag

TUNIS (Capital Markets in Africa) – AfricInvest, a Pan-African midcap private equity firms, announced that its Maghreb Private Equity Fund II (MPEF II) has successfully sold its 20.06% stake in the Group Cotugrain Hortimag (Cotugrain Hortimag) to a consortium composed of BIAT Capital Risque (the private equity fund of BIAT, a leading private-sector bank in Tunisia) and the company’s owner, Mr. Adel Ghariani. Cotugrain Hortimag is a Tunisia-based leader in the production of seeds, fresh…

EGYPT: QALAA’S to sell 100% stake in DJELFA for $60million

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CAIRO (Capital Markets in Africa) – Qalaa Holdings, an African leader in energy and infrastructure, announced that its subsidiaries ASEC Cement and ASEC Cement Djelfa Offshore have signed a preliminary Share Purchase Framework Agreement (subject to certain terms and conditions) to sell 100% of ASEC Ciment Algérie “AACC” (Djelfa) for consideration of US$ 60 million in DZD equivalent. The acquiring party is a consortium of Algerian investors. AACC has a license to build a 3…

EAIF and Dutch development bank FMO in US$14.7 million loan

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KAMPALA (Capital Markets in Africa) – The Emerging Africa Infrastructure Fund (EAIF) has participated in a syndicate led by the Dutch development bank, FMO, to provide a US$14.7 million loan to enable the construction of a 10MW solar farm in the Tororo area of Eastern Uganda. EAIF has provided 50% of the loan. The Tororo Solar North PV project will serve an area heavily dependent on subsistence farming and with high unemployment. The development includes…

South Africa: Nisela Capital Purchases GENREC for $13million

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JOHANNESBURG (Capital Markets in Africa) – Nisela Capital, a private equity and advisory firm based in South Africa, has purchased GENREC Engineering from JSE-listed Murry and Roberts Holdings (an engineering and construction group) for R185 million, (approximately about $13.3 million). Murray & Roberts notes that the transaction with Nisela Capital, is still subject to certain conditions precedent and regulatory approvals. The transaction is not classified as a categorised transaction according to section 9 of the…

Ghanaian microfinance institution attracts investment from Goodwell Investment

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ACCRA (Capital Markets in Africa) – Goodwell Investments, through its fund Goodwell MDC III, has invested in Innovative Microfinance Ltd. (IML), a microfinance institution operating in Northern Ghana. The investment will help IML extend its reach with 5 additional branches in the Northern, the Upper East and the Upper West Regions. IML aims to become the leading microfinance organization supporting micro enterprises in these poor, rural areas, where financial inclusion rates are very low. IML…

Abraaj acquires stake in Sub-Saharan African urea fertiliser manufacturer

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LAGOS (Capital Markets in Africa) – The Abraaj Group (Abraaj or the Group), a leading investor operating in global growth markets, today announced that it has acquired a minority stake in Indorama Fertilizers B.V. (Indorama Fertilizers), the largest urea fertilizer manufacturer in Sub-Saharan Africa, through its Funds. The stake was purchased from Indorama Holdings B.V. Netherlands, a wholly owned subsidiary of Indorama Corporation (Indorama), one of the world’s fastest growing petrochemical companies with operations in…

Kenyan private equity firm Fanisi Capital launches second fund

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NAIROBI (Capital Markets in ) – Kenyan private equity house Fanisi Capital is looking to raise $75-100 million for its second fund to invest in firms in East Africa, it said on Wednesday. Fanisi, which has already invested its first fund worth $50 million in healthcare, food processing and education, said up to $40 million of the new fund will be raised locally. “Several leading pension funds have already committed to putting money into the…

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