Investec Asset Management has completed its first private equity investment in Egypt by acquiring control of Spinneys Egypt, a rapidly growing supermarket chain. This article is published in association with Africa Private Equity News , a one-stop source for industry-related information. Stay up to date by downloading the free Africa Private Equity News app: Android | iOS | Scan QR code from desktop . Subscribe to the monthly newsletter here .
A selection of African private equity deal, fundraising and exit announcements that came across our desk in July 2019.
DEALS
Mediterrania Capital Partners has announced the acquisition, through its third fund, MC III , of a stake in Aziza , a private Tunisian company operating in the food retail sector. The transaction was achieved in partnership with Ekuity Capita l, a Tunisian-Kuwaiti investment company. Aziza is one of the top four supermarket chains in Tunisia with 250 shops located across the country.
XSML , the fund manager active in Central and East Africa, closed an investment, through its African Rivers Fund , in Ice Industries . Based in Uganda, Ice Industries is a producer of flake ice, which is used mainly to keep fresh produce cold and is an essential element for the fishing sector.
EXEO Capital’s Agri-Vie Fund II concluded the subscription for a significant minority shareholding in PPHL . PPHL’s fully-owned Tanzanian subsidiary, PPTL , is a regional leader in the production of woven polymer-based extruded products, including bags, sacks and tarpaulins for the agriculture and cement industries.
The InsuResilience Investment Fund , set up on behalf of the German government by KfW and managed by Swiss-based impact investment manager BlueOrchard Finance , will be acquiring a 39.25% stake in Lagos-based Royal Exchange General Insurance Company Limited , one of the largest non-life insurance companies in Nigeria.
Investec Asset Management has completed its first private equity investment in Egypt by acquiring control of Spinneys Egypt , a rapidly growing supermarket chain. The business is one of the leading grocery retail players in Egypt, having expanded to a current footprint of 13 outlets, comprising two hypermarkets and 11 supermarkets.
The Yield Uganda Investment Fund , managed by Pearl Capital Partners , has made its fifth investment in Uganda by committing UGX3.9bn ($1.1 million) to Raintree Farms Limited , a pioneer agri enterprise specialising in the production and processing of organic moringa. The products are sold to the nutritional, […]