The 5 most popular stories on Africa Private Equity News the past week

Here are summaries of the five most widely read stories the past week on Africa Private Equity News.

1. Vantage Capital in Morocco agriculture deal

African fund manager Vantage Capital has closed a €14 million mezzanine investment in Société de Production Mara?chère Samir (SPMS) to part-fund the company’s investment programme.

Headquartered in Agadir, Morocco, it has specialised in cherry tomato production since 1992 and then expanded into red fruits (raspberries, blueberries and blackberries) in 2014 through a partnership with the US-based group Driscoll’s, a leading global seller of fresh berries. Read the full article

2. Helios leads $100m fintech investment

Africa-focused private investment firm Helios Investment Partners has led a $100 million Series D funding round for M2P Fintech (M2P). The company is a rapidly growing regional provider of full-stack banking-as-a-service (BaaS) and infrastructure APIs serving the banking, fintech, and non-financial services sectors. Helios' investment will support M2P’s continued international expansion, with a particular emphasis on Africa.

Founded in 2014 and headquartered in Chennai, India, M2P offers next generation financial services technology to 200+ banks, 300+ lenders, and 800+ fintech engagements serving over 50+ million end users. Read the full article

3. Pembani Remgro Infrastructure Fund II lands commitment from European LP

French development finance institution Proparco has committed $15 million to the Pembani Remgro Infrastructure Fund II (PRIF II).

Founded in 2012, South African-based investment manager Pembani Remgro Infrastructure Managers (PRIM) has established itself as a significant player in African infrastructure investment through its first fund, Pembani Remgro Infrastructure Fund I (PRIF I). Read the full article

4. BII’s Growth Investment Partners announces new Ghana investment

Growth Investment Partners (GIP) Ghana is investing in Fido to boost financial inclusion in the West African country.

GIP is an investment platform that British International Investment launched in 2023 to provide long-term and flexible local currency financing to SMEs in Ghana.

Fido is a digital lender to low-income workers, micro-entrepeneurs and businesses who have limited access to traditional financial services. Read the full article

5. AXIAN Investment in West African insurance deal

The pan-African Axian Group – through its subsidiary AXIAN Investment – has announced the acquisition of a stake in WiASSUR, an insurance start-up based in C?te d'Ivoire.

This acquisition, closed mid-July 2024, positions AXIAN as WiASSUR's second-largest shareholder. The group will henceforth have a governance role in the company to actively contribute to its development. Read the full article

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