Here are summaries of the most widely read stories from the past week on Africa Private Equity News.
1. Mediterrania Capital Partners invests in AFG Assurances
Africa-focused private equity firm Mediterrania Capital Partners has completed an investment in AFG Assurances, the insurance arm of Atlantic Group, the pan-African group founded by Ivorian entrepreneur Koné Dossongui. The deal will support the insurer’s plan to double its network from seven to 14 insurance companies across Francophone Africa. Read the full article
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PwC advises SAS Group on its acquisition of a majority stake in Afrikelp
PwC advised Sustainable Agro Solutions (SAS Group) on its acquisition of a majority stake in Afrikelp Holdings. PwC provided buy-side financial and tax due diligence, tax structuring and the earn-out review. Read more
2. IFC proposes $30m investment in African Capital Alliance fund
The International Finance Corporation has disclosed a proposed investment of up to $30 million in the Capital Alliance Private Equity Fund V (CAPE V), alongside a $20 million co-investment envelope. The fund, sponsored by Lagos-based private equity firm African Capital Alliance, is targeting $500 million. Read the full article
3. Nigeria: Aruwa Capital leads investment in Polysmart Packaging
Lagos-based private equity firm Aruwa Capital Management has invested in Nigerian plastic recycling and packaging company Polysmart Packaging through its second fund. Polysmart, which produces food-grade recycled PET flakes and resin pellets for beverage and consumer goods manufacturers, recently commissioned the first phase of its expanded recycling facility in Ogun State. Read the full article
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Dealmaker’s Log: A database of African private capital transactions
The Dealmaker’s Log supports deal origination, market mapping, and tracking individual investors or funds over time. Filter to the country, sector, investor or transaction type you cover; compare activity across sectors, geographies and years; or follow the private capital cycle from fundraising through to exits. Access the Dealmaker’s Log here
4. Admaius Capital Partners backs Morocco’s ABA Life
Admaius Capital Partners has signed a $40 million investment agreement with ABA Life, the healthcare arm of Moroccan company ABA Technology. Founded five years ago, ABA Life combines artificial intelligence, medical technology, telemedicine and connected health infrastructure with healthcare operations. Read the full article
5. AgDevCo Ventures provides mezzanine loan to Ugandan agro-processor Newman’s
AgDevCo Ventures, the early-stage investment arm of African agriculture investor AgDevCo, has provided a $3 million mezzanine loan to Newman’s. The Ugandan company turns locally grown crops into value-added food products, packs fresh fruit and vegetables, and sources raw materials from over 3,000 smallholder farmers. Read the full article
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Building a private equity business in Nigeria
Femi Ogunjimi co-founded Nigerian financial firm CardinalStone in 2008 and now focuses on its private equity arm, CardinalStone Capital Advisers. He spoke to Africa Private Equity News editor-in-chief Jaco Maritz about his journey as an entrepreneur and investor. Watch the interview
