Deals

Nairobi, Kenya. The East African country is attracting private equity interest. Credit: Alamy/Financial Times

Private equity looks to East Africa for investment opportunities

Buyout groups investing in Africa are turning east and shunning the oil-rich western part of the continent as they grapple with the effect of low commodity prices on private equity’s final frontier.

Bob Diamond, Chairman of Atlas Mara and former CEO of Barclays

Bob Diamond sells $200M Atlas Mara stake to boost holding in Union Bank of Nigeria

Atlas Mara raising $200 million to increase Union Bank stake. Fairfax Africa partners with firm by purchasing shares and bond.

EFG Hermes eyes acquisition in Nigeria, Kenya brokerage licence

EFG Hermes eyes acquisition in Nigeria, Kenya brokerage license

Egypt’s EFG Hermes wants to enter Nigeria through an acquisition and expects to get regulatory approval to start a brokerage business in Kenya this year as part of a big push into frontier markets, a senior executive told Reuters last week.

Kenya to convert $243M debt in Kenya Airways into equity

Kenya to convert $243M debt in Kenya Airways into equity

Kenya will convert its $243 million in loans to Kenya Airways into equity, the government has said, as part of a broader restructuring to nurse the ailing airline back to financial health.

Jes Staley, CEO, Barclays

Barclays to surrender control of Africa unit with £1.6bn sale

Barclays has been given regulatory approval for the sale of its remaining stake in its Barclays Africa Group, according to a unit of the business.

Andile Ngcaba, Chairman, Convergence Partners

Convergence Partners, Google and the IFC commit $100 million to pan-African wholesale broadband provider CSquared

Convergence Partners recently signed an agreement with Google, the International Finance Corporation (IFC) and Mitsui & Co., Ltd. (Mitsui) to invest in CSquared, a broadband infrastructure company headquartered in Nairobi, Kenya.

XSML Capital announces final close of African Rivers Fund at $50 million

XSML Capital announces final close of African Rivers Fund at $50 million

XSML Capital, the fund manager active in Central & East Africa, last week announced its final close of the African Rivers Fund at $50 million.

Multichoice City, Johannesburg, South Africa

MTN in talks to buy MultiChoice Africa, says report

MTN is in talks on a potential acquisition of pay-TV provider MultiChoice Africa, MyBroadband reports citing industry sources.

Shameel Joosub, CEO, Vodacom

South Africa's Vodacom to buy 35% Of Kenya's Safaricom from parent Vodafone

Southern African telecoms giant Vodacom Group will buy a 34.94% stake in Kenyan operator Safaricom – known for its ground-breaking M-Pesa mobile money system.

Lake Victoria

Britain's Equinox to invest $250 million in Kenya biogas power project

Britain’s Equinox Energy Capital is close to concluding a $250 million (£194 million) fundraising round to invest in a project in western Kenya to produce electricity from invasive lake weed water hyacinth.

African private equity exits hit record high in 2016

African private equity exits hit record high in 2016 (Report): EY & AVCA

The number of exits achieved by PE firms in Africa is trending upwards, evidenced by a record number of exits in 2016.

Nigeria's Cars45 closes $5M round to digitize Africa's used autos markets

Nigeria's Cars45 closes $5M round to digitize Africa's used autos markets

Africa’s startup boom is moving into the used-vehicle space. Nigeria based Cars45.com raised a $5 million Series A round from the Frontier Cars Group, a holding company whose backers include Balderton Capital, EchoVC, TPG Growth, and NEA.

Aliko Dangote, CEO, Dangote Group

Africa's richest man promises to list refinery on Nigerian Stock Exchange

Aliko Dangote, the founder of the Dangote Group, has promised to list his Dangote Refinery on the Nigerian Stock Exchange.

Kim Reid, Founder & Co-CEO, Takealot

Africa's most valuable company Naspers ups investment in South Africa's largest e-commerce company Takealot

Naspers, Africa’s biggest ecommerce and digital company, has just invested R960 million (about $69.4 million) in Takealot Online, South Africa’s largest ecommerce company.

Lidya

Leading Nigerian fintech startup Lidya closes $1.25M seed funding round

Lidya, a leading fintech platform based in Nigeria, announced in late March that it has closed a US$1.25 million seed funding round to further its mission of easing access to finance for small and medium enterprises (SMEs) across Africa.

Aigboje Aig-Imoukhuede,Nigeria, President of the Nigerian Stock Exchange (NSE) Council

The Nigerian Stock Exchange gets green light for public listing

The Nigerian Stock Exchange (NSE) has been given a green light by its members to become a publicly listed company, it said on Thursday.

Lamin Manjang, Chairman of the Kenya Bankers Association (KBA)

Kenya sets sights on green bonds after mobile phone issue

Kenya aims to issue its first ‘green’ bond this year, the initiative’s backers said on Friday, bolstering the nation’s reputation for financial innovation after the government launched the world’s first mobile phone bond earlier this month.

Waitresses place a series of orders at the Orbit Place Java House, a chain of Kenyan cafes

East African assets attract private equity interest

Family businesses seek sales amid growth in buyout groups in the region

A woman walks past the London Stock Exchange building in the City of London, Britain, January 16, 2017. Credit: Reuters/Toby Melville

South Africa's Brait suspends LSE listing plan on Brexit uncertainty

South Africa’s Brait SE has suspended plans to list on the London Stock Exchange.

Kenya to offer mobile-only bond to investors

Kenya to offer mobile-only bond to investors

Kenya will start selling a mobile-phone based government bond this week, the Treasury said on Tuesday, the culmination of a lengthy plan to tap a new pool of investors into government securities.

Ebenezer Asante, CEO, MTN Ghana. Credit: marcopolis.net

MTN Ghana prepares for IPO in 2017

MTN Ghana aims to complete preparations to list its shares on the Ghana Stock Exchange (GSE) in 2017.

Albert Alsina, Mediterrania's CEO and Managing Partner. Credit: peafricaevents.com

PE house Mediterrania reveals €250m target for third Africa fund

Spain-based buyout house Mediterrania Capital Partners plans to raise up to €250m capital for its third Africa vehicle.

Oscar Onyema, CEO, Nigerian Stock Exchange

Nigerian Stock Exchange to seek approval for public listing

The Nigerian Stock Exchange plans to seek approval from its members on March 30 to proceed with the process of becoming a publicly listed company.

Private equity in Africa steps up a gear in 2016

Private equity in Africa steps up a gear in 2016: African Private Equity and Venture Capital Association (AVCA)

Private equity investment in Africa continues to go from strength to strength, evidenced by a new report from the African Private Equity and Venture Capital Association (AVCA).

Krispy Kreme Doughnuts to Open in Nigeria

Krispy Kreme Doughnuts to Open in Nigeria

Krispy Kreme to open twenty shops in Nigeria over a period of five years.

Private equity firm TA Associates announces minority investment in Interswitch

Private equity firm TA Associates announces minority investment in Interswitch

TA Associates, a leading global growth private equity firm, announced on Monday it has acquired a minority equity interest in Interswitch, an Africa-focused integrated digital payments and commerce company.

Maria Ramos, CEO, Barclays Africa

Barclays Africa 'divorce settlement' is not a sale deal: Maria Ramos, CEO, Barclays Africa

The British bank’s sell-down of its majority stake in its African subsidiary is still some way off.

Cyril Collon, General Partner, Partech Ventures

African tech startups raise record-breaking $370M in 2016: Partech Ventures (Infographic)

At Partech Ventures, we have been tracking for the past 3 years the dynamics of African tech investment, to better understand the investment landscape on the continent.

Hyatt Regency Johannesburg

JLL predicts increased hotel investment activity in Sub-Saharan Africa

Recent high-profile transactions in the Sub-Saharan hotel sector have industry experts predicting increased liquidity, leading to more open-market transactions in the future.

AccorHotels headquarters in Issy-les-Moulineaux near Paris, France

AccorHotels signs deals to open three hotels in Ethiopia

Europe’s largest hotel group AccorHotels, will open three hotels in Ethiopia by 2021, becoming the latest international chain to tap into the growing business and tourism sectors in the country.

Maria Ramos, CEO, Barclays Africa Group

Barclays and Barclays Africa Group agree on separation terms

Barclays Africa Group today announced that it has agreed terms for operational separation with UK-based Barclays PLC, which is reducing its shareholding in Barclays Africa.

Carlyle Group And TPG Capital Make $100M Bid for Kenyan coffee chain Java House

Carlyle Group and TPG Capital make $100M bid for Kenyan coffee chain Java House

Two of America’s largest private equity firms, Carlyle Group and TPG Capital, are looking to acquire Kenyan coffee chain Java House is a deal that could be worth as much as $100 million.

Nigeria says telcos must list on stock exchange

Nigeria says telcos must list on stock exchange

The Nigerian government says telecommunication companies operating in Nigeria must quickly conclude plans to get listed on the Nigerian Stock Exchange (NSE) or face regulatory penalties from their compliance failures.

Cape Town was the most important destination in 2016 for startup investments in Africa

Investment in Africa's tech start-ups on the rise

From mobile money to cargo drones and rugged portable wifi hotspots, Africa’s innovators are generating new technology to tackle consumer needs and development challenges.

Steinhoff-Shoprite merger talks collapse as sides fail to agree on terms

Steinhoff-Shoprite merger talks collapse as sides fail to agree on terms (Infographic)

A successful deal would have created Africa’s biggest retailer. Shares of both companies jump as news ends antitrust concerns over deal.

Nic Rudnick, CEO, Liquid Telecom

Pan-African Liquid Telecom Group has completed the $500M purchase of South Africa's Neotel

South African communications network operator Neotel has officially become part of the pan-African telecoms group Liquid Telecom.

Frank Adu, CEO, CAL Bank

Arise BV acquires 28% stake in Ghana's CAL Bank as DPI successfully exits

CAL Bank has announced that its second largest shareholder, private equity firm DPI, has successfully sold its 27.7 percent stake in CAL Bank to Arise BV of the Netherlands.

Orange Seeks Africa Deals as Wireless Carrier Eyes Expansion

Orange Seeks Africa Deals as Wireless Carrier Eyes Expansion

Orange SA is seeking deals in Africa as France’s biggest wireless carrier targets the continent as a source of additional revenue growth, according to a company official.

EXEO Capital's Sub-Saharan Africa agribusiness Agri-Vie Fund II attracts over $100M in first close

EXEO Capital's agribusiness Agri-Vie Fund II attracts over $100M in first close

EXEO Capital, the pan-African private equity investment firm, has announced the first close of the second Agri-Vie Fund, focused on the food and agribusiness sector in Sub-Saharan Africa.

Prem Watsa, Founder, Chairman & CEO, Fairfax

Canadian insurer Fairfax said to raise about $500M for new Africa fund

Prem Watsa’s Fairfax Financial Holdings Ltd. is expected to raise about $500 million for its new African investment fund, according to people familiar with the matter.

Nando's considering IPO

Soon You Could Buy Shares in Nando's

Nando’s Group, the South African fast-food company known for its spicy chicken and fries, is considering a London Stock Exchange IPO, according to people familiar with the matter.

Nigeria asks Goldman and Stanbic to advise on diaspora bond debut

Nigeria asks Goldman and Stanbic to advise on diaspora bond debut

Nigeria has asked Goldman Sachs and the local unit of South Africa’s Standard Bank to advise it on the sale of a debut “diaspora bond” targeted at Nigerians living abroad, Stanbic IBTC Bank said on Monday.