Key Developments in African Private Equity
As the African private equity landscape evolves, major events and financial confirmations are shaping the future. Here are the notable stories making headlines this week.
Standard Bank Finalizes Sale of Soft Drinks Maker
In a significant transaction, Standard Bank has completed the sale of a soft drinks manufacturer to Varun Beverages, a prominent bottler for PepsiCo. This acquisition allows Varun to integrate the soft drinks manufacturer into one of the largest PepsiCo bottling networks globally. The full story can be found here.
Novastar Ventures Completes Fundraising
Novastar Ventures has successfully raised $147 million for its Africa People and Planet Fund III. This funding round marks a 40% increase over its previous fund, Fund II. The investment focus lies in businesses that align economic interests with sustainable technologies to support Africa’s growing population. More details are available here.
Amethis Expands Portfolio in Côte d’Ivoire
Amethis has acquired a majority stake in Ademat, a Cote d’Ivoire-based power security solutions provider. This acquisition strengthens Amethis’s portfolio as Ademat is renowned for comprehensive solutions in power generation and security. To read further, click here.
African Development Bank Backs Alterra Fund
The African Development Bank (AfDB) has approved an equity investment of up to $15 million in the Alterra Africa Accelerator Fund (AAA Fund). This fund targets high-growth, mid-sized enterprises across varied sectors in Africa, supporting regional growth and expansion. Find out more by following this link.
Proparco’s Commitment to Growth
Proparco has committed $15 million to the Adenia Entrepreneurial Fund, focusing on small to medium-sized enterprises and mid-market companies across Africa. This strategic investment aims to support multiple companies, predominantly in sectors with robust local foundations and proven potential for regional growth. To explore this further, read more here.
Solar Solutions Financing by Oikocredit and GCPF
Oikocredit, in collaboration with the Global Climate Partnership Fund (GCPF), has extended a $10 million debt facility to Sawa Energy. This financing will facilitate the expansion of solar and battery systems across commercial and industrial sectors in Eastern Africa. The objective is to provide cost-effective power solutions, which are projected to deploy 35 MW of solar energy for 250 projects over the next three years. Full details can be found here.
Continued Growth and Innovation in Africa
The current trends illuminated in these transactions reflect a broader commitment to sustainability and infrastructure development across the African continent. Investors are increasingly leaning towards funds that promise not just financial returns but also positive impacts on the environment and society.
Would you like to stay updated about who is raising, investing, and exiting in Africa? Check out Africa Private Equity News’ monthly Dealmaker’s Log for a comprehensive database of investment deals, exits, and fundraising closes. Subscribe here.
