Infrastructure investment firm TransCentury in US$48m cash call from shareholders

KENYA – Infrastructure investment firm TransCentury Plc, is looking at its shareholders to inject an additional US$40.74 million of new capital through a cash call in less than two months and an additional US$7.8 million through the sale of non-core assets to avert a potential liquidity crisis that could adversely impact its operations as a “going concern,” reports The East African. The Nairobi Securities Exchange (NSE)-listed loss-making firm with operations across East, Central and Southern Africa, revealed through its delayed annual report for 2019 that it has embarked on a…

Read More

VC firm Flourish Ventures opens office in Kenya to better serve startups in Africa

KENYA – Flourish Ventures, a global fintech venture capital firm and a subsidiary of the Omidyar Network of the United States of America, has opened a new office in Nairobi to support fintech entrepreneurs in Africa. The aim of opening the new office is to support its investment team to better serve entrepreneurs across Africa who are building innovations that help advance financial health and economic resilience for people and small businesses.   Flourish Ventures recently hired Efayomi Carr as Principal who will manage the company’s operations in Nairobi. Carr is an experienced entrepreneur who previously served…

Read More

Investment bank SouthBridge in innovative joint venture deal with NACP, picks Charles Kié as a CEO

MAURITIUS – Investment bank SouthBridge Investments (SBI) and New African Capital Partners (NACP) have announced the launch of their joint venture named SBNA that will act as a “permanent capital fund” aiming to attract investors who take a long-term view on Africa. The joint venture intends to directly invest in Africa’s future with long-term capital, focusing on FinTech, the financial sector integration, and micro and meso finance. Charles Kié, CEO and co-founder of New African Capital Partners, will head SBNA. Mr. Kié’s professional career includes top jobs at Citibank, Banque…

Read More

Small Foundation invests in investment firm Capria Ventures to foster technological innovation

AFRICA – Small Foundation, a philanthropic foundation focused on catalysing income-generating opportunities in Sub-Saharan Africa (SSA), has invested in a hybrid debt facility with global investment firm Capria Ventures to advance enterprise-led economic development and foster technological innovation in the region. The partnership with Small Foundation will fund more such investors, while the collaboration will also focus on developing pragmatic ways to measure the impact of local partners’ investments in Africa. “Supporting highly leveraged opportunities to drive sustained impact in Sub-Saharan Africa is at the core of Small Foundation’s work.…

Read More

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…

Read More

Investment firm Mubasha launches US$22m financial service platform

EGYPT – Mubasher Financial Services, an investment business firm, has launched its new “Du” brand for financial services that will be available through several electronic platforms, with investments of EGP360 million (US$22.96m). Among the new platforms, Du Invest is the first of its kind in the Middle East. Other platforms include: Du Trade, Du Play, Du Learn, among others. Du Invest is the first savings and investment platform in Egypt that allows investors and individuals of all income classes to invest their savings efficiently. It also allows them to diversify…

Read More