Verdant Capital closes four private equity-related transactions in South Africa

SOUTH AFRICA – Verdant Capital, a specialist investment bank and investment manager, has closed four private equity-related transactions in South Africa with important fund raisings for Bridge Taxi Finance and Retail Capital, the sale of Nedan Oil and the sale of Baxi to MFS Africa. Verdant Capital has successfully raised US$20 million in debt financing for Bridge Taxi Finance from a small group of leading international impact investors. The funding will be used to grow the institution’s lease portfolio. In addition, Verdant Capital has raised US$10 million in debt funding…

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Private equity firm Castle One secures investment from HL Hall to help extend its offering

SOUTH AFRICA – Castle One, a prop-tech venture capital and private equity organisation, has reportedly secured an undisclosed notable investment from HL Hall and Sons Holdings (Halls). The investment will be used to help the prop-tech venture builder assist the real estate industry in optimising technology to benefit this sector. In addition, the investment will assist Castle One is accelerating its existing objectives and help extend its offering and presence to foreign markets. “Our investment into Castle One is tremendously exciting as our companies have strong shared values and a…

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PE firm 1K1V acquires minority stake in tech company Digital Ecosystems

SOUTH AFRICA – One Thousand & One Voices (1K1V), a private equity firm that invests in sub-Saharan Africa with an exclusive limited partners (LP) base of leading family offices, has announced a R200 million (US$13.5 million) investment in a minority stake in Digital Ecosystems (DigiCo), a market-leading investment holding company that provides integrated technology services to the telecommunications sector, as well as various SaaS platforms. This investment marks 1K1V’s second investment in the technology space this year and the third technology investment in its portfolio. DigiCo operates at the forefront…

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Fintech MNT-Halan secures US$120m circa investment from three private equity funds

EGYPT – MNT-Halan, a microfinance lending and payments company, has announced a circa US$120 million investment from three private equity funds and a group of venture capitalists. The investment was from Apis Growth Fund II, Development Partners International (DPI), and Lorax Capital Partners. In addition, the company has also attracted venture capital backing from Middle East Venture Partners, Endeavor Catalyst, and DisruptTech. This round of investment demonstrates confidence in the fintech opportunity in Egypt and further institutionalizes the capitalization table of MNT-Halan. Previous investors of MNT-Halan have included GB Capital,…

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Mergence Investment Managers Lesotho launches two unit trusts

LESOTHO – Mergence Investment Managers Lesotho has launched two unit trust investment products – the Mergence Lesotho Equity Unit Trust Fund and the Mergence Lesotho CPI + 4% Fund. Both unit trusts are available for retail and institutional investors. Semoli Mokhanoi, Managing Director of Mergence Lesotho, said that the unit trusts will go a long way to opening up investments for the Basotho people who wish to save for their future. “The main saving that most people make is into their company’s retirement fund, but if you have spare cash…

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PE Convergence Partners raises US$120m to drive Africa’s digital inclusion

SOUTH AFRICA – Convergence Partners, the private equity investment firm has announced the first close of its third fund after raising US$120 million. The Convergence Partners Digital Infrastructure Fund (CPDIF) is targeting a final size of US$250 million. The investment company now has more than US$400 million of capital under management. Investors in CPDIF include the CDC Group (the UK’s development finance institution), the US International Development Finance Corporation, the European Investment Bank, the International Finance Corporation and Proparco (the private sector arm of the Agence Française de Développement — AFD…

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Private equity fund Kibo Capital Partners sells its stake in I&M Bank Rwanda

RWANDA – Private equity fund Kibo Capital Partners, the Mauritius-based private equity fund, has sold its shares in I&M Rwanda to Egide Gatera, a business magnate, assisted by Enexus Finance. Established in 1963 as Banque Commerciale du Rwanda and bought by I&M Group in 2012, I&M Rwanda is considered the second largest bank in Rwanda. With this investment, Gatera indirectly becomes the third-largest shareholder of I&M Rwanda, after I&M Group and Africinvest. Gatera, a prominent business tycoon in Rwanda, owns a chain of companies with interests in agribusiness, finance and…

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Unaitas secures US$9.3m funding from Dutch PE firm Oikocredit for SME lending

KENYA – A leading progressive Sacco in Kenya Unaitas Sacco, has secured KShs1 billion (US$9.3 million) funding from Dutch private equity Oikocredit International for onward lending to small and medium enterprises. (SMEs) The Sacco said the funds will be repaid over six years allowing them to offer loans to over 5,000 farmers’ groups and cooperatives, individual farmers, farm input dealers and transporters. The funds are part of the Sacco and Dutch PE firm’s efforts to help firms recover from an economic fallout caused by the Covid-19 pandemic that has led…

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PE firm Tana Africa Capital takes minority stake in alcoholic beverages firm Kensington Distillers & Vintners

MAURITIUS – Tana Africa Capital, a leading Pan-African private equity firm has, announced its latest investment through its second fund Tana Africa Capital II into Kensington Distillers & Vintners, a fast-growing alcoholic beverage manufacturing and distribution business with operations in South Africa, Kenya and Nigeria. The investment was made directly into KDV Holding that owns majority stakes in Truman & Orange South Africa, Monument Distillers East Africa and Monument Distillers Nigeria. Since its founding in 2014 KDV, has established a fast-growing portfolio of wine and spirits brands including local manufacturing…

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PE firm Adenia acquires leading electrical and solar equipment distributor Herholdt’s

SOUTH AFRICA – Adenia Partners, a private equity firm investing in Africa, has acquired a majority stake in Herholdt’s, a leading distributor of low-voltage electrical products and solar products in South Africa. Financial terms of the transaction were not disclosed. Established in 1964, Herholdt’s operates in Bloemfontein, Kimberley and George, and has recently opened branches in Johannesburg and Cape Town.  Herholdt’s supplies a broad product portfolio of 10,000+ items to professionals such as installers, contractors and resellers as well as end-users. Herholdt’s originally focused on the sale of electrical equipment…

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