BioTherm Energy completes four of its projects in South Africa

SOUTH AFRICA – Pan-African renewable energy company BioTherm Energy, has announced the completion of all four of its renewable energy projects in South Africa, with the latest project having come on stream in the Eastern Cape. The company’s US$451 million investment connects 284MW into South Africa’s national grid and is partnered by Thebe Investment Corporation (TIC), which has a 37.5% stake in all four projects. The 123MW Golden Valley Wind Energy Facility reached commercial operations 1 May 2021 and is expected to generate over 477GWh of renewable power each year,…

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Industrial and logistics developer Improvon launches US$110m park in Nairobi

KENYA – Improvon, one of Africa’s largest industrial and logistics developers, is constructing a US$110 million industrial park in Embakasi, Nairobi as demand for out of town industrial, commercial, residential, and public amenities soars. Their target clients include factories and processing plants, cold storage facilities, pharmaceutical and fast-moving consumer goods (FMCG) distributors. The first phase of the park, which is located off Eastern Bypass in Nairobi, has already been completed amid the Covid-19’s challenges. Its construction began last year following the leasing of a two-acre parcel of land that housed…

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Kipeto Energy wind farm to supply 100MW to Kenya’s national grid

KENYA – The second-largest wind power farm in Kenya Kipeto Energy, has announced that it will start feeding electricity to the national grid beginning next week having connected the Kipeto wind farm to the national grid and would now gradually start testing and switching on the turbines. Kipeto Energy, in a statement, said it had connected a 17km (220KV) high-voltage transmission line, linking the wind plant to the national grid at the Isinya Sub-station, and that it was ready to go live. The wind plant has an installed capacity of…

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Investment firm Actis sells its stake in C&I Leasing to Peace Mass Transit

NIGERIA – Global emerging markets private equity investment firm, Actis LLP (Actis), has successfully exited its stake in C&I Leasing Plc (C&I Leasing), after completing a trade sale to Peace Mass Transit Limited (Peace Mass Transit), a leading transport company in Nigeria. Upon conversion of the loan stock into equity, Peace Mass Transit would become the single largest shareholder in C & I Leasing Plc. Speaking on the development, The Chairman and Managing Director/Chief Executive Officer, Peace Mass Transit Limited, Dr. Sam Maduka Onyishi said the decision to invest in…

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Rack Centers unveils US$100m data center expansion plan to cater for rising demand

NIGERIA – Rack Centre, West Africa’s leading carrier neutral data center operator, has announced an expansion programme that will increase capacity to a total net lettable white space of 6000 square metres. This according to Rack Center, will pave way for 13MW of IT power capacity in its Lagos campus. The expansion is expected to bring carrier neutral scale to West Africa, and this is in response to increasing demand for data centre space from cloud uptake, telecommunication investment and outsourcing of IT facilities by enterprises in the region. The…

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Actis to receive US$100m from Korea’s National Pension Service for green energy projects

GLOBAL– UK based private equity firm, Actis LLP has secured a funding commitment from The National Pension Service of Korea for investment in green energy projects across Africa, India and Latin America. A report by Africa Energy Portal indicated that the National Pension Service committed to investing between US$100 million and US$200 million in the private equity firm. Actis LLP said it will invest in renewable energy projects that include wind and solar power in emerging markets across Latin America, Africa, India, and others. The equity firm further noted that…

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Emerging markets investor Actis raises US$2.9bn capital commitment for its latest fund

AFRICA – Actis, an emerging markets investor, has raised nearly US$3 billion so far for its latest fund Actis Energy 5 LP dedicated to renewable-energy investments in emerging markets, according to Wall Street Journal. The London private-equity firm recently held a first close of Actis Energy 5 LP with US$2.9 billion in capital commitments from more than 20 institutional investors, a person familiar with the matter said, citing a letter the firm sent to investors. Actis is seeking US$4 billion for the fund. Actis plans to invest the new energy…

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Actis backed Honoris Education Group expands into Nigeria, acquires Abuja based Nile University

Nile University of Nigeria

NIGERIA – Honoris Education group, a pan-African education group backed by global investment firm Actis, has expanded its operations into Nigeria through the acquisition of Abuja based Nile University. Established in 2009, Nile University of Nigeria is a fully accredited university that offers a broad range of undergraduate and postgraduate programmes in the Arts and Social Sciences, Engineering, Law, Management Sciences, Natural and Applied Sciences, and Medical & Health Sciences. Being home to the largest population and economy in Africa, Nigeria is poised to lead a new generation of African…

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Proparco to support Actis with US$33m for the construction of Douala Grand Mall

CAMEROON – Proparco, a subsidiary of Agence Française de Développement (AFD) which focuses on private sector development and Société Générale Cameroun are providing US$33.65 million of support to Actis the construction of Douala Grand Mall (DGM).  DGM has been designed as a destination mall, meaning both a place of consumption and center of attraction. The mall will have a supermarket, 160 shops and boutiques, 22 restaurants and a cinema will open on 18,500 m2 of rental space.   It will open in September and will be the first major shopping center in…

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Actis exits its majority stake in GHL Bank to First National Bank

GHANA– Actis, a leading investor of private capital into global emerging markets, has announced that it has exited its majority stake in GHL Bank, a full-scale commercial bank in Ghana, to First National Bank Ghana, a 100% subsidiary of FirstRand Group. Actis took over the investment in 2019 when it took over the management of Abraaj Africa Fund III.  The transaction has received the required regulatory approvals from the Bank of Ghana and the South African Reserve Bank.  The fund invested in GHL Bank in 2016, and enabled the company…

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