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Here are summaries of the five most widely read stories the past week on Africa Private Equity News.
1. Growth Investment Partners Zambia makes first investment
Growth Investment Partners Zambia has announced its first investment in Boxpack Zambia.
This inaugural investment is a $5 million, seven-year royalty funding which will enable Boxpack, a family-owned manufacturer of corrugated carton boxes and paper-based packaging materials, to acquire a new production line and triple its monthly output from 600 to 1,800 tonnes. This expansion will help meet Zambia’s growing packaging needs while reducing reliance on imported materials. Read the full article
2. South Africa: Ata Capital exits Novare Holdings
South Africa’s Ata Capital has announced the sale of its 26% stake in Novare Holdings to the company’s management team. The transaction remains subject to regulatory approval.
Novare offers investment services to institutional investors and family offices, including real estate and impact funds, multi-managed portfolios and investment consulting. Read the full article
3. Japanese DFI commits to Helios fund
The Japan International Cooperation Agency (JICA) has made a $50 million commitment to the Helios Investors V fund, managed by Helios Investment Partners.
JICA is investing alongside other development finance institutions such as the International Finance Corporation and the European Investment Bank, as well as private financial and strategic investors. Read the full article
4. Novastar Ventures fund attracts Spanish LP
The Spanish Agency for Development Cooperation has approved an investment of up to $10 million in the Novastar Ventures Africa People and Planet Fund III.
Managed by Novastar Ventures, the fund has a focus on sectors like renewable energy, e-mobility, smart logistics, the circular economy, and regenerative agriculture. Read the full article
5. BFA Asset Management in Angola food deal
BFA Asset Management’s private credit vehicle – Kimbo Fund – has made an investment in FoodCare, an Angolan agri-food processor.
FoodCare, which processes 25 traditional foods from cassava to mufu and mopane worms, currently operates at a capacity of 84 tonnes per month. Some 95% of its products are exported to Europe, North America, and South Africa. Read the full article
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