Browsing: Private Equity in Africa

• Kenya’s private equity deals size are expected to remain modest this year.
• However, despite the high optimism, deal sizes in East Africa are expected to remain modest.
• However, businesses are concerned that firms will be scouting for exits, too.

Kenya and its East Africa peers are confident that the fundraising environment for businesses will continue improving in the next 12 months even as the continent experiences mixed expectations.

New findings by Audit firm Deloitte show that while East and West Africans largely anticipate an improvement, opinions in North and Southern Africa are divided, with some expecting improvements, others predicting stagnation, and some foreseeing deterioration.

This outlook comes against the backdrop of persistent high interest rates, inflation, and geopolitical uncertainty, which led to a 9 per cent drop in finalized funds year-on-year in 2023.

The Deloitte Africa Private Equity Confidence Survey 2024, shows that in East Africa, optimism is on …

The shareholders of Equity Group Holdings Plc have passed resolutions that will reinforce the governance structures of the Group, continue to diversify the Board composition, and also assure investors of dividend pay-out every year as long as the Company posts profits.

In a statement, the Group says shareholders voted for the Amendment of Articles 1 and 79 of the Articles of Association of the Company thereby reinforcing its governance structure and signaling the growing significance of Equity Group Foundation as the social impact investment arm and custodian of the purpose of the Group.

Speaking after the AGM, the Group Board Chairman Equity Group Holdings Plc (EGH Plc), Professor Isaac Macharia said the move will further strengthen the structures to ensure the Board is reinforced through diversified representation for effective oversight.

“In so doing, the shareholders have passed a resolution enabling shareholders with more than 12.5 percent shareholding to participate directly …

On 1^st of April, as I was publishing my Uniconization of African Fintech piece[1], Mastercard was busy announcing their $100 million investment into Airtel Money (Airtel Africa’s mobile money subsidiary) to acquire a minority position – half what TPG Capital did[2]. Even though I had gotten wind of the transaction knowing that Mastercard was already in bed with Airtel Money[3] – some part of me thought of it as an April fools joke…. On the 12^th of April 2021, Mobile Telecom Network (MTN) announced the valuation of their mobile money business at $5 billion making it the 7^th African fintech unicorn with plans to bring in minority shareholders before going public[4]. Given that Visa is already in bed with MPESA (Vodacom and Safaricom’s mobile money business)[5], it is a matter of time before Visa also invests. The unicornization …

On the 10^th of July 2020, Helios Holdings Limited announced a merger with Fairfax Africa Holdings Corporation to form Helios Fairfax Partners Corporation – a pan Africa focused alternative investment manager.[1] On the same day, Eversend, an African fintech startup also announced over a $1M raise through crowdfunding.[2] Prior to that Helios announced a $100M investment from the Commonwealth Development Corporation (CDC) into their fund IV.[3] On the 1^st of July 2020, our portfolio company, www.hotelonline.co announced the acquisition of two travel tech companies.[4] On 30^th June 2020, www.msfafrica.com announced the acquisition of fellow fintech Beyonic based in Tanzania.[5] On 23^rd June, 2020 www.acumen.org announced their exit from KopaGas of Tanzania as part of the $25M acquisition by Circle Gas.[6] Then on 22^nd January 2020, www.mypaga.com announced the acquisition of Apposit an Ethiopian software company as the entry strategy …

The government of Chile was given the right to preside over the United Nations Framework on Climate Change  Convention (UNFCCC) COP25 but along the way, it struck a deal for the event to be held in Madrid, still under its presidency.

The annual event normally held on the first week of December provides the world with a time to reflect, negotiate and strike deals to provide a soft landing for a world suffering from harsh effects of climate change. Of course there are countries who don’t see the need for such a conference, what has come to be labeled as climate change denial, USA leading the pack.

While developing countries are far from getting a relief for a problem they have contributed less about, the developed countries have worked to develop fair means of reducing emissions, and compensation where applicable.

The World Bank argued in a 2016 report that sub-Saharan …

Bowmans Law firm, a leading pan African legal entity specializing in business deals, merger and acquisitions (M&A) is set to launch its base in Ethiopia and Mauritius at the beginning of October 2019. The move is seen as an expansion of the company to two countries where FDIs have remained high coupled with financial growth.

Bowmans is opening a fully-fledged office in Mauritius, having joined forces with FirmWise, a local firm that specialises in corporate law, mergers and acquisitions, banking and finance, investment funds, tax, compliance and private equity.

Robert Legh, chairman, and senior partner, says ‘This move, which is effective from 1 October 2019, is an investment in the ambitions and success of our clients across Africa. Mauritius and Ethiopia are key jurisdictions for many of our clients and our presence on the ground there will help us to better support them.’

The law firm already has a presence …