PE firm Citadel Capital wins “African Business” title
Private equity firm Citadel Capital, with $8.3 billion in investments, has won the title of “African Business of the Year” at a gala awards ceremony organized by “African Business” magazine in London on 21 June. Other finalists included South Africa’s De Beers, Kenya’s Safaricom, pan-African bank Ecobank and Kenya’s Bidco Oil Refineries.
Consensus Business Group launches $92 million “clean tech” fund for Southern Africa
South Africa’s first, specialised, private equity clean technology fund, Evolution One Fund, has reached its final closing after raising R700 million (US$92 million) from local and foreign investors, including development finance institutions, a family office and sovereign wealth funds. This capital is to be invested into equity in clean technology projects and enterprises including new energy and environment focused technologies in South Africa and across the Southern African Development Community
Adlevo announced first closing on African technology fund
Adlevo Capital Managers (www.adlevocapital.com) announced on 10 June that it has completed the first closing of Adlevo Capital Africa LLC fund with capital commitments of US$52 million. The fund will make expansion capital investments into companies with technology-enabled business models across sub-Saharan Africa.
Africa Sustainable Investment Forum launched
A top line-up of speakers from the financial community launched the Africa Sustainable Investment Forum (AfricaSIF- http://www.africasif.org) on 9 June at the Johannesburg Stock Exchange. AfricaSIF describes itself on its website as “a network, knowledgebase and advocate for sustainable investment in Africa. We are currently developing an independent, pan-African not-for-profit network of investment practitioners promoting sustainable development on the continent by attracting investment in the public, private and philanthropy sectors across asset classes, countries and stakeholders from the platform at africasif.org.”
CDC steps up investments in African funds
The UK’s development finance organisation CDC Group PLC (www.cdcgroup.com) says that 2009 marked the start of CDC’s new, 5-year investment policy which will see it make at least 75% of new investments in low income countries (average Gross National Income per capital of less than $905) and 50% in sub-Saharan Africa.
China-Africa fund starts to raise further $2 billion
The China-Africa Development Fund has started to raise its second round of capital, aiming to raise $2 billion over three years, according to a report in China Daily
Progress of the $5bn equity China-Africa Development Fund
The flagship of Chinese equity investment into Africa, the $1 billion China-Africa Development Fund, opened a branch in Addis Ababa on 30 March. Initial financing came from the China Development Bank (CDB) and is set to grow to $5 billion.
Angola’s first private equity fund raises $28 mln
Angola’s first private equity fund has raised US$28 million in capital in its first closing, in an important step forward for the country’s capital markets. The Fundo de Investimento Privado Angola (FIPA) aims to link local capital markets with international sources of finance and to small and medium-sized privately owned businesses. The fund was initiated […]
Private equity firm joins responsible investing
Private equity fund manager Aureos Capital (www.aureos.com) has signed up for a UN-backed globally recognized initiative to promote responsible investment. Aureos specializes in investing into small to medium-sized businesses in emerging markets and it recently signed up to the United Nations Principles for Responsible Investment (UNPRI) initiative.
Angolan stock market within 12 months
Eduardo Vieira, President of Angolan stockbroker Novacao Corretora de Valores As the former minister has said, we strongly anticipate that there will be a stock exchange up and running in the next 12 months. The Government has set new goals and targets for the economy and the stock exchange is part of their strategy. Our […]
Aureos Africa makes another $10 mln investment in Nigeria
The Aureos Africa Fund, which closed its fundraising in January with US$381 million, has completed a $10 mln investment in a leading Nigerian leasing company, C&I Leasing Plc. The fund is believed to be the largest fund ever to focus on investing in small to mid-sized businesses across Africa.
StanChart steps up Nigeria equity investments
Standard Chartered Private Equity Limited recently announced $47.5million investment for a minority stake in Seven Energy, a leading Nigerian gas exploration and development company, according to a report in Nigeria’s Vanguard newspaper.
Aureos Africa gets busy investing $381 mln
The Aureos Africa Fund is busy with its mission – it says it is the largest fund ever to focus on investing in small to mid-sized businesses across Africa. Earlier this month it announced that it had closed its fund-raising after gathering US$381.1 million. The fund has already invested approximately $120 mln in 10 companies […]
New World Bank group investment funds for Africa
The World Bank continues to step up its investments into Africa, and in February expects first close on a $500 million sub-Saharan Africa, Latin America, and Caribbean private equity fund and a $200 million Africa Capitalization Fund to invest in banks that are key to stability in the banking system, according to Bank group president Robert Zoellick.
Boost for $55 mln E African start-up/SME fund
A new fund is making good progress in raising up to US$55 million to be invested in business start-ups and small and medium enterprises in Kenya, Rwanda, Uganda, and Tanzania. The Fanisi Venture Capital Fund was set up with help from Norwegian Investment Fund for Developing Countries (Norfund)
Citadel Capital private equity fund opens in East Africa
Egypt-based private equity fund Citadel Capital is to open an East African office in Nairobi during January. Citadel says it is independently ranked as Africa’s largest private equity firm
Africa Health Fund makes first investment
The Africa Health Fund, managed by private equity fund manager Aureos Capital has made its first investment, acquiring a stake in the Nairobi Women’s Hospital for US$2.66 million. This is the first investment by the fund which was launched in June 2009 and aims to raise $100 million, with a final close this year (2010).
$400 million fund for small and medium-size businesses
Aureos Capital at the start of November launched its $400m sub-Saharan private equity fund focusing on small- to mid-market companies. The Aureos Africa Fund was launched after feasibility and due diligence studies funded by the Commonwealth Secretariat.
Africa scores in new $750 million infrastructure fund
Africa will have a large role in US$750m Actis Infrastructure 2 fund, which closed on 6 October. The pan-emerging markets fund focuses on power generation and transport.
Kenyan private equity firm trades “Over The Counter”
A leading Kenyan stockbroker says local investment company TransCentury already trades “Over The Counter” and plans to list its shares for trading on a stock exchange.