Private Equity |

Fund Raising | ACA closes US$570mn private equity fund

LAGOS, Capital Markets in Africa: African Capital Alliance (ACA) today announced that it has raised a total of approximately US$570mn of committed capital for its fourth private equity fund, Capital Alliance Private Equity IV Limited (“CAPE IV” or the “Fund”). As a result, ACA has become the first West Africa-focused fund manager to raise over US$1bn in aggregate capital commitments, since its formation in 1997. Over its nineteen-year history, ACA has built a strong and…

Investment | Actis invests in leading Maghreb Pharmaceutical business Medis

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TUNISA, Capital Markets in Africa: Actis, a leading growth markets investor, today announced a significant investment in Medis Group (Medis), a prominent branded generic pharmaceuticals business in Tunisia and Algeria. Actis has acquired a meaningful stake in the business from Africinvest, one of the key PanAfrican Mid-cap PE players, and from the founding Boujbel family. Actis will also inject further funds into the business to finance a buy-and-build strategy to create a leading pan- African…

Investment | DOB Equity invests in Kenyan tech-enabled food wholesaler

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NAIROBI, Capital Markets in Africa: DOB Equity, a leading Dutch family office, announced that it had taken a minority stake in Twiga Foods, the Kenyan wholesaler, to expand its reach in the fast growing African micro-vendor food market. DOB Equity says Twiga Foods’ integrated and tech-enabled business model reduces costs and increases convenience for vendors in Nairobi by allowing them to buy fruit and vegetables through their mobile phone and delivering supplies directly to retailers’ stalls….

Private Equity: A Value Add Infrastructure Investor, the largest Asset Class in Africa

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LAGOS, Nigeria, Capital Markets in Africa: Sub-Saharan Africa’s economies have shown impressive growth since the global financial crisis, outperforming the global average by 200 basis points. A critical underpin to this growth has been the flow of foreign capital from private sources into the continent’s leading economies. In no other sector is this as prevalent as infrastructure. Infrastructure development in Africa has lagged behind population growth over the past fifty years, and governments have begun…

Investment | IFC, Omidyar, Quona and Others invest in Zoona

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Johannesburg, Capital Markets in Africa: African financial technology company Zoona has successfully raised US$15mn (ZAR200mn) in a second round of financing. This Series B round is led by the International Finance Corporation (IFC), a member of the World Bank Group, and will help Zoona scale up its operations as it aims to reach 10 markets and 30 million active consumers across Africa by 2020. First round investors Accion, whose investment is managed by Quona Capital, and Omidyar…

Investment | ACA invests in leading Nigerian biscuit company

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LAGOS, Capital Markets in Africa: An investment consortium made up of African Capital Alliance (ACA), 8 Miles and Deutsche Investitions und Entwicklungsgesellschaft mbH (DEG), has announced an investment in Beloxxi Industries Limited (‘Beloxxi’ or ‘the Company’), a market leading Nigerian biscuit manufacturing company. The consortium has invested US$80mn for a substantial minority stake to expand the capacity of Beloxxi, to address significant unmet demand and to grow its regional distribution presence. Additional details of the transaction…

Investment | DEG invests in Nigerian food producer

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LAGOS, Capital Markets in Africa: Deutsche Investitions- und Entwicklungsgesellschaft mbh (DEG) announced an investment in the Nigerian Beloxxi Industries Ltd. (Beloxxi) with around US$10mn, with which the biscuit manufacturer plans to expand its production. Further investors are the investment companies, 8 Miles and Africa Capital Alliance, which invested an additional amount of US$70mn. The family-run company, Beloxxi, produces cream crackers in its state of the art production facility. These thin, crispy wheat crackers are becoming…

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