Private equity firm AfricInvest acquires minority stake in Fidelity Bank Ghana

GHANA – AfricInvest, a pan-African investment and financial services firm, has acquired a minority stake in Fidelity Bank Ghana Limited, Ghana’s largest private bank. The acquisition was carried out through its two funds, AfricInvest Fund IV and FIVE (AfricInvest Financial Inclusion Vehicle), from Kagiso Tiso Holdings Proprietary (KTH), a South African private investment company, AfricInvest and Fidelity Bank Ghana said in a joint statement. Founded in 1998, initially as a discount house, Fidelity Bank obtained its universal banking license in 2006 and has since grown to be the largest privately-owned…

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Proparco invests US$30m in private equity fund AfricInvest

AFRICA – Proparco, a French Development Financial Institution has invested US$30 million in the first closing of the AfricInvest IV fund, alongside other development finance institutions, pension funds reputable Africans, and a reinsurance company. In the continuation of the previous funds, the AfricInvest IV fund aims to provide growth capital to medium and large capitalization companies in Africa, by focusing on consumer-oriented sectors, in particular financial services, manufacturing industry , retail and consumer goods, food, health care, education, telecommunications, logistics and distribution. The fund seeks to develop local businesses that…

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AfricInvest acquires minority shareholding in I&M Bank Rwanda

RWANDA – AfricInvest Financial Inclusion Vehicle (FIVE) has acquired a 24.78% stake in I&M Bank Rwanda through AfricInvest Evergreen Investments, a special purpose vehicle formed by the Tunisia-based private equity fund. The deal gives the lender a boost to expand its operations and grow its footprint. Julius Tichelaar, a Partner at Africinvest, hailed the bank’s management team and governance as some of the key elements that attracted AfricInvest to venture in the bank. “We are excited to partner with I&M Bank and contribute to its strategy to further solidify its…

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Egypt’s MDP partners with AfricInvest to reinforce presence in payment-processing sector

EGYPT – AfricInvest, a Pan-African private equity platform, has partnered with Masria Digital Payment (MDP) through its Maghreb Private Equity Fund IV. Skander Oueslati, CIO for AfricInvest, said: “We are pleased to partner with Masria Digital Payments in its transformative strategy to further solidify its role as the key player in the digital payments and payments processing industry in Egypt and Africa.” Established in 2003 as Masria Card S.A.E, MDP is the leading Egyptian and African smart and payment card solutions provider. It boasts the largest market share in its…

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NBK capital partners acquires AfricInvest’s stake in Morocco’s premier pharmaceutical company, Polymedic

MOROCCO – NBK Capital Partners, an alternative investments firm that provides flexible growth capital to mid-sized companies in the Middle East, North Africa and Turkey has acquired AfricInvest’s stake in Polymedic Laboratories. Polymedic is a pharmaceutical company specialized in the production and the marketing of medicines and owns a diverse portfolio of over 200 registered products across 12 therapeutic areas. Yaser Moustafa, Senior Managing Director of NBK Capital Partners, said: “This acquisition is very exciting for NBK Capital Partners, as it allows us to grow our presence in a sector…

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FMO to invest US$35m in AfricInvest Fund IV to spur economic growth in Africa

AFRICA – Dutch development financer FMO is evaluating a US$35 million investment in AfricInvest Fund IV, managed by private equity firm AfricInvest. The fund has a target size of US$500 million. AfricInvest was founded in 1994 and is one of the most experienced private equity investors on the African continent.  To date, AfricInvest has invested in more than 150 companies across 25 countries and has raised US$1.5bn across 18 funds. AfricInvest aims to make growth-capital investments in mid-cap African companies that are well positioned in their local markets and are…

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AfricInvest closes US$222 million northern Africa funding campaign

MOROCCO– AfricInvest, a leading pan-African mid-cap-focused private equity firm, has announced the final close of its North African Fund, Maghreb Private Equity IV (“MPEF IV”).  MPEF IV is a 10-year fund managed by AfricInvest that will invest in small and medium enterprises in North Africa including Algeria, Egypt, Morocco, and Tunisia, looking to take substantial minority stakes in those enterprises. The fund’s strategy will target companies that are well-established in their local markets and have the potential to scale up their activities at the regional level, in the Mediterranean basin,…

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