news

AfricInvest, a pan-African private equity platform, has announced that its Maghreb Private Equity Fund III (MPEF III) has exited from its investment in Polymedic, a generics manufacturing company [...]

A new core investor has acquired 43.93 per cent equity stake in Omoluabi Mortgage Bank (OMB) Plc in a divestment deal valued at N1.2 billion. The transaction, which was done through a block [...]

State-owned Agricultural Development to commence private placement of shares to Ghana Amalgamated Trust on Jan. 10, the lender says in a statement emailed by the local bourse. * Lender to place [...]

The renewable energy holding managed by Swiss impact asset manager responsAbility has announced a new equity investment in Sub-Saharan Africa: One of Malawi’s first solar projects has reached [...]

West-Africa private equity firm Verod Capital Management has reached a $200m hard cap to close its third growth fund. Verod Capital Growth Fund III will follow the same investment strategy of its [...]

Nairobi-based financial services provider Octagon Africa has completed the purchase of a 49 per cent shareholding in Alexander Forbes Financial Services Zambia. This follows an announcement on [...]

ACWA Power signed a 20-year deal to supply 250 megawatts of solar power in Ethiopia, enough for about 750,000 homes. The power purchase agreement was struck with Ethiopia’s state-owned [...]

Olam International Ltd. has sold a 10% stake in Arise Industrial Zones to Africa Finance Corp. for $59 million in cash. The sale was part of the reorganization of Gabon’s Special Economic [...]

11 Plc finalized discussions with Asset Management Company of Nigeria to acquire hotel through a unit, it says in statement published on Nigerian Stock Exchange website. * Acquisition in line [...]

EFG Hermes and GB Auto, through units, will buy 37.5% stake each in life insurance firm Tokio Marine Egypt Family Takaful in deal worth 84.75m Egyptian pounds ($5.3m), the companies say in a [...]

Barclays Bank of Kenya single-stock futures to be offered for trading following review of NSE 25-Share Index, Nairobi Securities Exchange says in emailed statement. * NOTE: July 5, Kenya Ends [...]

U.K.’s development finance institution sells about 74.6m shares of Development Finance Co. of Uganda to Investment Fund for Developing Countries, DFCU says in a statement in New Vision newspaper. [...]

African cross-border fintech startup Chipper Cash has raised a $6 million seed round led by Deciens Capital. The San Francisco-based company offers mobile-based, no fee, P2P payment services in [...]

International Finance Corp. arranged a syndicated loan of $70 million for Umeme Ltd. to enable the Ugandan power distributor to expand its network and deliver electricity to more homes and [...]