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. Gaia Fund Managers acquires AIIM’s stake in South African toll road operator

Gaia Fund Managers has acquired a 12.67% shareholding in Bakwena Platinum Corridor Concession (BPCC), toll operator of the N4 and part of the N1 highways in South Africa’s northern provinces.

Gaia bought the stake following African Infrastructure Investment Managers’ exit of the investment held through its African Infrastructure Investment Fund 2. The acquisition was backed by Sanlam Specialised Finance. Read the full article

2. Old Mutual Private Equity to acquire stake in South Africa’s Much Asphalt

Old Mutual Private Equity and Sphere Investments have concluded an agreement with Johannesburg Stock Exchange listed AECI to acquire 100% of Much Asphalt alongside the company’s management team.

The deal is valued at ZAR1.1 billion (c. $62.7 million) and will be financed through a combination of debt and equity.

Much Asphalt is South Africa’s largest commercial manufacturer of asphalt and bituminous binders and emulsions, with its products principally being used in the road surfacing industry. Read the full article

3. Kenya’s Agventure raises $9.5m from AgDevCo

Specialist agricultural investor AgDevCo has announced its latest investment in Kenya, into Agventure, a farmer-owned business that is leading the way in regenerative agricultural practices for non-irrigated cereal-based systems.

AgDevCo’s mezzanine loan of $9.5 million will enable the company to continue to develop its canola oil production capabilities – it sells oil under the Pure Mountain brand in Kenya – allowing the company to increase its volumes purchased from outgrower farmers. It will also help to build Agventure Seed’s platform to supply high quality certified seed to farmers. Read the full article

4. Uganda: Sahel Capital provides funding of $1m to Sukuma Commodities

Sahel Capital has approved a $1 million term and working capital loan to Sukuma Commodities, a Ugandan-based enterprise specialising in the supply and processing of exportable green coffee for European traders and roasters. The financing was provided through Sahel’s Social Enterprise Fund for Agriculture in Africa (SEFAA) facility.

Sukuma sources Robusta and Arabica coffee from a network of 2,300 smallholder farmers, providing support through input financing and training on best production practices. Sukuma exports 100% of its coffee to a diverse portfolio of European off-takers, including Italy, the Netherlands, and Germany. This investment will enable Sukuma to scale its operations, increase coffee aggregation for processing, and expand its export capacity. Read the full article

5. Tunisia: Wattnow raises investment from Lateral Frontiers, E3 Capital, others

Wattnow, a Tunisian startup specialising in energy management systems, has raised an investment round led by Lateral Frontiers. Other investors that participated include E3 Capital, 216 Capital, Outlierz Ventures, Satgana, Octerra Capital, and strategic angel investors, including Karim Beguir and Guillaume Amblard.

Founded in 2018 by Issam Smaali in Tunisia, Wattnow leverages AI and real-time data analytics to optimise energy consumption for businesses. The company's IoT-driven solution provides real-time energy insights and predictive recommendations. Read the full article

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