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

Posted on: 11 July, 2020 at 11:30 AM

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

1. Helios fund lands $100m commitment from LP

CDC Group, the UK’s development finance institution, has committed $100 million to Helios Investors IV, the fourth private equity fund raised by Helios Investment Partners.

The pan-African generalist fund will invest in and build market-leading companies across the continent. With a well-established local presence in Lagos and Nairobi, offices in Europe and strong networks across the continent, Helios has grown significantly since its establishment in 2004 and has invested in businesses that operate in over 30 African countries.

2. Acumen exits Tanzania’s KopaGas

Acumen has exited Tanzanian pay-as-you-go technology company KopaGas through Circle Gas’s $25-million acquisition of the company’s technology – the largest-ever pure private equity investment in the clean cooking sector.

Acumen is a not-for-profit firm in the venture capital and private equity space that invests in companies, leaders and ideas whose products and services are enabling the poor to transform their lives.

Acumen invested early-stage equity in the company in 2018, following its product pilot. The investment helped KopaGas bring its product to market and connect 1,300 Tanzanian households to LPG-fueled clean cooking.

3. Fund-of-funds seeks to back African PE firms; announces first close

The SDG Frontier Fund reached its first close at €25.3 million thanks to the participation of nine Belgian private investors together with BIO, the Belgian Investment Company for Developing Countries. The SDG Frontier Fund (referring to the Sustainable Development Goals of the United Nations), targets to reach €50 million in subsequent closings. Its goal is to generate an attractive financial return combined with a high development impact.

The SDG Frontier Fund is a self-managed co-investment vehicle which seeks to invest together with BIO in private equity funds active in Africa and Asia. The fund will capitalise on BIO’s extensive expertise in the field since 2001, while benefiting from its services at middle and back office level.

4. GreenTec Capital Partners invests in Nigerian wholesale e-commerce platform

GreenTec Capital Partners has announced an investment in Pricepally, an innovative digital Nigerian wholesale platform that allows users to purchase food and other products either individually or as a part of a group.

Building on principles of the shared economy, Pricepally brings consumers together directly with farmers, manufacturers, and wholesalers to mutual benefit. A novel feature of the Pricepally platform is a social component which allows users to make purchases as groups for even deeper savings. To date the platform has grown substantially driven, in part, by increased demand created by the global pandemic. Pricepally’s ambitious plans are to re-imagine the food system in Africa, by connecting relevant stakeholders through its platform and building out the infrastructure to reach more Nigerians. Currently, Pricepally is available in the Lagos area and offers 1-2 day delivery on orders

5. Senegal: EAIF, managed by Ninety One, anchors $170m telecoms bond issue

The Emerging Africa Infrastructure Fund (EAIF), managed by Ninety One, is to invest up to XOF29.5 billion ($50 million equivalent) in a bond issue that aims to raise XOF100 billion ($170 million) for investment in the Senegal business of Sonatel SA, a West African telecommunications company.

Sonatel’s bond, which was launched on the 15th of June, will have a seven year term with a coupon rate (interest paid to investors) of 6.50%, payable twice a year. Sonatel will use the bond proceeds to extend and enlarge its 4G+ network in urban and rural areas and renew and upgrade service platforms. Sonatel is investing in new activities such as energy, banking and multimedia content, which will benefit from the bond fundraising.

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