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

Posted on: 1 August, 2020 at 4:04 PM

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

1. Enko Capital exits logistics company to global shipping giant

Enko Capital Managers (ECM), managers of the Enko Africa Private Equity Fund (EAPEF), has completed the exit of its investment in AMI Worldwide (AMI), a pan African logistics business, with significant operations in East, Central and Southern Africa. The deal marks EAPEF’s first exit.

EAPEF, together with AMI’s founders Marc de Reymaeker and Vincent Hachez, are disposing this stake to CEVA Logistics (CEVA), a subsidiary of global shipping giant CMA CGM.

2. Fund managed by Finance-In-Motion secures $10m from FMO

Dutch development financier FMO has signed a $10 million investment in Eco.business II Sub-Fund (EBF II), an open ended debt fund that aims to promote ecologically sustainable businesses, with a special focus on fighting deforestation in sub-Saharan Africa, through the provision of dedicated financing and technical assistance.

The fund, managed by Finance-In-Motion, was initiated by Germany’s KfW Development Bank with financial support from the German Federal Ministry for Economic Cooperation and Development (BMZ).

FMO will invest in senior shares. The funds will be on-lent to local financial institutions that target sustainable businesses/projects (i.e. certified or identified as green). In addition, the fund looks to set up strategic partnerships with commodity buyers to finance smallholders and also to finance high impact projects directly. Priority sectors will be sustainable agriculture, fishery, forestry and tourism.

3. Edge Growth backs South African industrial supplier Massive Quantum

South African investment firm Edge Growth has announced a partnership with Massive Quantum, which procures and supplies raw chemical materials and engineering products to South Africa and its neighbouring states. The working capital injection from the Coca-Cola Beverages South Africa (CCBSA) SME Fund, managed by Edge Growth’s Edge Action Fund, an enterprise and supplier development fund, comes with support mechanisms including mentorship and access to markets through corporate supply chains.

Massive Quantum was established in November 2012 to fulfil the production requirements of various industries in South Africa and its neighbouring states. The company has quickly scaled and is able to source, procure and supply any chemical raw materials, minerals, and engineering products/instruments that comply with the stringent quality, consistency and timeous requirements of its clients.

4. Apis portfolio company DPO Group to be acquired by Network International

DPO Group, an online commerce platform in Africa operating across 19 countries, has entered into an agreement to be acquired by Network International, a leading enabler of digital commerce across the Middle East and Africa. In a landmark deal for the African payments space, Network International will be acquiring 100% of DPO Group, which will continue to operate under the same brand.

DPO Group is backed by Apis Partners LLP, a private equity asset manager focused on financial services in the growth markets of Africa and Asia.

5. BlueOrchard announces $80m final closing of IIF Private Equity Sub-Fund

Swiss impact investment manager BlueOrchard has announced the final close of the InsuResilience Investment Fund (IIF) Private Equity Sub-Fund, a first of its kind initiative to improve access to climate insurance across the developing world. The fund has already made six investments across emerging markets, helping to protect more than 20 million poor and vulnerable people from the effects of climate change.

DEAL LOG – JULY 2020

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