The 5 most popular stories on Africa Private Equity News the past week
A MESSAGE FROM OUR SUPPORTERS
Standard Bank: The nuts and bolts of public-private partnerships
Reliable infrastructure isn’t just a convenience; it’s a prerequisite for a thriving business environment which in turn enables sustainable economic development. Read more
Here are summaries of the five most widely read stories the past week on Africa Private Equity News.
1. Mozambique: Amethis sells agribusiness investment
In 2018, a consortium led by Amethis and its partners Proparco and Kibo Capital Partners made a strategic investment in Merec, a dominant player in flour milling and secondary processing in Mozambique.
Amethis recently exited its investment in Merec, following a 100% sale of the company to Dubai-based Invictus Plc. The founder of Merec, along with co-investors Proparco and Kibo Capital, also sold their shareholding. Read the full article
2. Apis Partners exits financial services company
Apis Growth Fund I, a private equity fund managed by UK-based Apis Partners, has signed binding agreements to sell its full stake in Baobab, an African financial services provider specialising in supporting small and medium-sized enterprises.
The fund’s position in the company is being acquired by Beltone Capital, a fully owned subsidiary of Beltone Holding, a financial services provider listed on the Egyptian Stock Exchange. With the purchase of Apis’ stake, along with those of its co-investor and other selling shareholders, Beltone will secure a majority stake in Baobab. Read the full article
3. European Investment Bank commits €15m to African fund
The European Investment Bank has committed €15 million to the new I&P Afrique Entrepreneurs 3 fund, managed by Investisseurs & Partenaires.
The fund will back local businesses with high growth potential in sectors such as agriculture, nutrition, health, energy, water, industry and services. Read the full article
4. South Africa: Meridiam invests in township internet provider
Meridiam has acquired a majority stake in Ilitha, a telecommunications company providing affordable internet solutions to underserved areas in South Africa.
This investment, made through the Meridiam TURF B Fund, will enable Ilitha to accelerate its fibre rollout in South Africa’s township communities, with the ambition to connect more than half a million households. Read the full article
5. P1 Ventures fund reaches final close
P1 Ventures – the early-stage, pan-African VC – has completed the final close of its first $50 million institutional fund.
Hisham Halbouny, managing partner at P1 Ventures said: “From game-changing fintech to pioneering AI applications, we’re uniquely positioned to identify opportunities and support their growth. Great companies are often built in tough times and today’s founders are more frugal, focused, and realistic about valuations. We believe this may be the greatest vintage ever.” Read the full article
Stay ahead in Africa's private equity and venture capital sector with Africa Private Equity News’ monthly Dealmaker’s Log – a database of reported investment deals, exits, and fundraising closes. Subscribe here