The 5 most popular stories on Africa Private Equity News this week

Posted on: 20 June, 2020 at 3:56 PM

Here are summaries of the five most widely read stories this week on Africa Private Equity News.

1. EIB mulls $17m investment in African fund

The European Investment Bank has disclosed it is considering a $17 million equity participation in the Women’s Development Business Equity Fund LP.

The fund has a target size of about $170 million and will focus on investing in women-owned or led companies in South Africa, Lesotho, Botswana, Namibia, Swaziland and to a lesser extent Ghana and Kenya.

2. AVCA CEO steps down

Michelle Kathryn Essomé has announced she is stepping down as the CEO of the African Private Equity and Venture Capital Association (AVCA).

She posted an announcement on the association’s website sharing the news of her intention to step aside after nearly 9 years at the helm of AVCA, while detailing her experience in the industry body and expressing her appreciation for those who played a role in building AVCA over the past 20 years.

3. Chicago-based impact investor backs Rwandan food distributor

Chicago-based impact investor VestedWorld has invested in Rwanda-based food distribution company GET IT, according to a report by ImpactAlpha.

VestedWorld is an early-stage investment fund manager that invests in emerging market companies that have the potential to generate competitive financial returns while contributing towards the growth and development of the markets in which they are located.

4. South Africa: Senatla Capital buys stake in advertising group Joe Public

Private equity firm Senatla Capital has acquired a 34% stake in South African advertising, brand and communications group, Joe Public United.

The transaction sees three senior agency executives Khuthala Gala Holten, Xolisa Dyeshana and Mpume Ngobese acquiring 26% through a newly created company, Ikamva Lakusasa, and Senatla Capital, buying 34%. In line with its mandate, Senatla Capital has funded a substantial portion of the acquisition by Ikamva Lakusasa.

The remaining 40% of shareholding is retained by the current shareholders, including group CEO, Gareth Leck, chief creative officer, Pepe Marais and group strategic officer, Laurent Marty.

5. Emerging Africa Infrastructure Fund anchors successful bond issue by Helios Towers

The Emerging Africa Infrastructure Fund (EAIF), which is part of the Private Infrastructure Development Group (PIDG), acted as an anchor investor in a bond issued by HTA Group Ltd (HTA), a whole owned subsidiary of Helios Towers plc. EAIF has invested $30 million in the UK listed bond, which has a 5.5 year term and a coupon of 7%.

Helios Towers operates over 7,000 telecommunications towers, mainly in Tanzania, the Democratic Republic of Congo, Congo Brazzaville and Ghana and has recently established a presence in South Africa.

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