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

Posted on: 27 June, 2020 at 11:22 AM

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

1. Inside Capital Partners invests in Zambian waste recycling company

Inside Capital Partners has announced the fifth investment of its first fund, Inside Equity Fund, into Alpha Polyplast Ltd, to drive the growth of the leading manufacturer of recycled PET strapping in Zambia.

Inside Equity Fund has committed to invest $2.75 million in Alpha to finance the doubling of its waste collection and processing capacity. 

2. Proparco takes a $30m stake in pan-African fund AfricInvest IV

Through a $30 million investment in the first close of AfricInvest’s new multisector private equity fund, French development finance institution Proparco will support the development of strong local and regional consumer-driven businesses across Africa.

AfricInvest is one of the pioneers of private equity in Africa, successfully investing on the continent through its North African and sub-Saharan Africa funds for over 25 years. As a longstanding partner of the group, Proparco has invested in 15 of the manager’s 19 funds since 1997, and has now invested $30 million in the first close of AfricInvest IV, alongside other DFIs, African pension funds and one reinsurance company.

3. Stonechair Capital announces operating partner for African energy fund

Stonechair Capital and CPCS are partnering to accelerate energy access in Africa via the former’s #EnergyAfrica Fund – a private equity fund targeting $300 million of sub-Saharan energy investments.

CPCS was chosen as the operating partner to manage the energy investments. Its combination of expertise in the energy industry, track record of managing investment portfolios and rich local experience make it a strong choice to partner with.

4. MoneyFellows raises $4m from Partech and Sawari Ventures

Egyptian fintech platform MoneyFellows has secured $4 million in series A investment from venture capital firms Partech and Sawari Ventures.

MoneyFellows is a financial enabler that digitises the money circles or ROSCA model (known as gam’eyas in the Arab world, chit funds in India, committee in Pakistan, tandas in Mexico, and tontine in West and Central Africa). This allows users to more effectively manage and fulfil their financial needs.

5. Ingressive Capital grows African fund to $10m

Ingressive Capital has doubled its investment vehicle to back high-growth, tech-enabled startups across Africa. It now operates a $10 million fund.

The investment fund aims to support the next generation of African innovators. The fund targets pre-seed and seed-stage tech-enabled businesses in the B2B space that provide tech solutions to Africa’s traditional billion-dollar industries, as well as B2C fintech and internet companies.

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