Funds

Capital raising

Tunis Stock Exchange IPO is largest listing

The listing of Société d’Articles Hygiéniques (SAH), on the Tunis Stock Exchange on 9 Jan after a private placement and an oversubscribed initial public offer (IPO) is the largest listing on the Tunis bourse, valuing the company at $163.5 million.

Capital raising

Africa private equity – $2bn raised in 9 months to Sept

Africa’s private equity funds have reported closing funds with $2bn in investments, according to the industry news source Private Equity Africa, citing data from Preqin …

Exchange news

Safeguarding investments – custody banks spur growth of African capital markets

Giant inflows of investment capital to the African markets is spurring an increase in the banks offering custody services, but global players are held back by differences in infrastructure and legal structures and practice.

Egypt

Citadel Capital to issue $528m shares

Shareholders of leading investment company Citadel Capital have voted recently to allow the company, which says it has US$ 9.5 billion in investments under control, to boost capital by EGP 3.64 billion capital increase as part of major restructuring.

Funds

DPI private equity fund raises $400m

A leading African private equity house Development Partners International (DPI) has reached the first close of its second pan-African African Development Partners II (ADP II) fund at over $400 million.

Funds

Innovative structure for $94m fund for health innovations

Merchant bank Lion’s Head is moving fast forward with the Global Health Investment Fund to invest in and advance late-stage drugs, vaccines and other global health technologies, aiming to impact poorest countries while winning financial returns in developed markets. It has attracted $94m in commitments and top global backing.

Funds

How to win big returns in African private equity

Africa’s private equity firms have been finding great ways to realize value, fuelling and profiting from the continent’s soaring growth, but also helping Africa’s markets become more pan-regional and scoring successes by working closely with management teams to create value at investee companies.

Funds

Africa is top investment destination for private equity

Global institutional investors (“Limited Partners”/LP) have selected Sub-Saharan Africa (SSA) as the most attractive investment region for private equity, according to research from the Emerging Markets Private Equity Association (EMPEA).

Egypt

Egyptian Exchange holds workshops with mutual funds to boost liquidity

The Egyptian Exchange (EGX) is busy with workshops for mutual funds and investment banks, aiming to boost trading volumes through better communications between market participants and listed companies.

Funds

Harsh climate for African private equity calls for experienced local guides

Private equity are getting harder in Africa, particularly for mega funds looking for $75m deals, and 57 funds are currently trying to raise $13.1bn causing a “traffic jam”m, say private equity experts.

Exchange news

New global rules for collective schemes from IOSCO

The International Organization of Securities Commissions (IOSCO) published on 4 March a report on liquidity risk management for collective investment schemes (CIS)

Cote d’Ivoire

Cauris private equity books into West Africa hotel growth

A West Africa private equity fund, Fonds Cauris Croissance II, says it will invest 4 billion FCFA (XOF, equivalent to $8 million) in Azalaï Hotels to fund an ambitious expansion programme in the region.

Capital raising

Rise of pension giants set to transform investment in Africa

New giants are arising in African investments – the domestic pension funds. Several countries have funds worth billions of US dollars and in many they are growing at 25% a year or more. Handled well, they could transform local equity markets, exits for private equity and infrastructure investment.

Capital raising

Zimbabwe Stock Exchange set to pay off its suspended CEO

According to news reports, the Board of the Zimbabwe Stock Exchange is close to negotiating an exit package with CEO Emmanuel Munyukwi, who was suspended in May.

Funds

Africa’s best real estate developer is private equity group Actis

Leading African private equity group Actis has won the title for “Best Developer in Africa” in the 8th annual global Euromoney Real Estate Survey run by finance magazine Euromoney

Exchange news

Are capital markets taking a wrong turn? Soul-searching on short-termism after UK’s Kay Review

Lots of useful commentary is published this week about what’s going wrong with the world’s leading capital markets and finance and it has lots of useful insights for those involved in developing Africa’s capital markets. The latest bout of soul-searching follows the publication of Prof John Kay’s “The Kay Review of UK Equity Markets and Long-Term Decision Making” on 23 July.

Funds

Voxtra impact fund backs growing seed potatoes in Tanzania

Voxtra East Africa Agribusiness Fund, a Norwegian social investor, has completed its inaugural investment of US$1.5 million in Mtanga Farms Limited in Tanzania, which grows seeds, crops and livestock.

Ethiopia

Silk African Food Fund munches into Ethiopian biscuits

The Silk African Food private equity fund, run by UK regulated specialist asset manager Silk Invest Ltd, has acquired a significant minority equity stake in NAS Foods Ltd., a biscuit maker in Ethiopia.

Funds

Winners announced for Private Equity Africa Awards in London

It was great to be part of the inaugural Private Equity Africa Awards, organized by the excellent team. According to them, the accolades are the first to focus only on Africa’s private equity industry. Helios and Citadel won the most awards. The evening concluded a day-long LP (limited partners) summit on 14 June 2012.

Funds

African Development Bank invests $100m to Agvance Africa PE fund of funds

The African Development Bank has approved an equity investment of US$100 million to Agvance Africa, which the bank claims is the first fund of funds focused on African agribusiness.