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Executive summary for the week of 07-Mar-17 to 14-Mar-17 (week 11)
The African Private Equity and Venture Capital Association is set to host its 14th annual conference for private equity operators, according to a statement released recently. About 500 private equity leaders are expected to attend the conference – which will hold on April 4th to 5th – in Abidjan, Cote d’Ivoire, making it the first time in ten years the conference will be held in Francophone Africa.
Some of the confirmed keynote speakers are: Daniel Kablan Duncan, Vice-President of Côte d’Ivoire; Michel Abrogoua, Founder, Chairman and Managing Partner, PCM Capital Partners; Christian Adovelande, President, Banque Ouest Africaine de Développement; Dr. Daniel Matjila, Chief Executive Officer, Public Investment Corporation; and Dr. Frannie Léautier, Senior Vice-President, African Development Bank Group.
Likely worth a look.
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Fact: Alexander the Great once held a drinking contest among his soldiers. When it was over, 42 people had died from alcohol poisoning.
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African Private Equity News (PE)
African focused private equity funds
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TA Associates invests in Interswitch
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TA Associates said it acquired a minority stake in Interswitch - financial terms were not announced
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Interswitch, based in Lagos, is an Africa-focused digital payments company
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Helios Investment Partners will remain the majority shareholder of Interswitch
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As part of the deal, Ajit Nedungadi and Naveen Wadhera will join the company’s Board of Directors
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Actis to hit the US$2.75 billion hardcap for its fourth energy fund
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Actis Energy 4, acording to the London based PE firm, has raised its 4th fund entirely by an in-house team - exceeding the US$2billion target size in just over seven months and hitting US$2.75billion hardcap four months after initial close
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The fund will invest in select countries in Latin America, Africa and Asia targeting control investments in electricity generation and distribution businesses
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Actis’ previous global energy fund closed at US$1.15 billion in 2013
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Neil Brown, partner and head of the Investor Development Group at Actis, said the fund raise was a testament to the strength of the relationships built between Actis and their investor base
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Apis Partners announced the final close for their first fund
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Apis Partners, a London based private equity firm beat their US$250 million target with US$287 million in commitments
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Apis Growth Fund I will target investments seeking growth capital between US$20 million and US$40 million - with a particular focus on financial services investments
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The fund has already deployed circa US$130 million in capital in 5 deals since it held its first close in August 2015
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East African economic news (EAC)
BI, KE, RW, TZ, UG
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CDC, IFC, Maris and Mbuyu to back Africa Logistic Properties
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CDC, the IFC, Maris Capital and Mbuyu Capital Partners are jointly investing US$48 million in Africa Logistic Properties, a newly-established developer and manager of Grade A warehousing
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The capital will be used to support the company’s warehousing developments in Nairobi
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Southern African economic news (SADC)
AO, BW, LS, MW, MZ, SZ, ZM, ZW, [-TZ]
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Sea Harvest is looking to raise up to US$100 million by floating 38.7% of its share capital on the Johannesburg Stock Exchang
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Sea Harvest, the South African fishing company majority-owned by Brimstone Investments, is looking to raise up to US$100 million by floating 38.7% of its share capital
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Earlier in the year, Brimstone had expanded its holding in Sea Harvest to 85% by acquiring Kagiso Strategic Investment’s stake
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Following the listing, Brimstone still plans to retain a majority stake in the company
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AFC announcing the successful US$350 million financial close for an 80MW peat-to-power plant
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Africa Finance Corporation featured, announcing the successful US$350 million financial close for an 80MW peat-to-power project in Rwanda’s Gisagara district
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AFC is the Mandated Lead Arranger for the project’s debt, which was also supported by Finnfund, Afreximbank and others
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