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Week commencing 15 April
UK-based private equity firm Helios Investment Partners has acquired a 25% residual interest in Axxela from energy group Oando for $41.5m. Axxela is a designated natural gas shipper on the West African Gas Pipeline and is the pioneering private sector-led developer of natural gas distribution in Nigeria.
Africa Global Funds 6 April
Irish-based agriculture tech firm Devenish Nutrition has bought a 42% stake in Sidai Africa, a Kenyan-based animal feeds producer, for $2.2m. Devenish has expanded its export markets to the Middle East, sub-Saharan Africa, Turkey, Mexico and Denmark.
Business Daily 10 April
Kenyan beverage firm Kevian has received an additional €10m from German sovereign wealth fund DEG for expansion purposes. This is the second round of funding that the Kevian has secured from DEG following an earlier loan of €7m.
Liquid Africa 8 April
Tunisia-based private equity firm Africinvest has teamed up with Cathay Capital — a global private equity firm based in Paris — to launch a new Africa tech fund with a target raise of $168m. The Cathay Africinvest Innovation Fund will focus on investments in African technology companies.
Liquid Africa 10 April
The European Investment Bank has signed a commitment of $15m with the SPE Africa Industrialisation Fund which seeks to contribute to the development of the private sector in North Africa. The facility blends the EIB’s resources with European Commission resources under the Neighbourhood Investment Facility.
Africa Global Funds 9 April
US-based hospitality company Marriott International expects to add 19 new properties and more than 3,000 rooms to its Middle East and Africa portfolio in 2019. The new additions are in line with the company’s expansion plans to add more than 100 new properties and nearly 26,000 rooms across the region by the end of 2023.
The New Times 9 April
Chinese music start-up Boomplay has raised $20m to expand its music streaming business in Africa. The company has 5-million music tracks and videos on its platform — with an emphasis on African artists — with 85% of users primarily in Nigeria, Ghana, Kenya and Tanzania.
Liquid Africa 8 April