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Week commencing 22 July
International specialist banking and asset management group Investec, via its pan-African private equity fund, has bought a controlling stake in supermarket chain Spinneys Egypt. Spinneys has expanded to a footprint of 13 outlets – two hypermarkets and 11 supermarkets – including two new openings in the last eight months.
Liquid Africa 15 July
Pan African investment company EXEO Capital Fund, through its Agri-Vie Fund II, has concluded a transaction with PPHL for a minority shareholding. PPHL produces woven polymer-based extruded products.
CrossBoundary Energy Access (CBEA), Africa’s first project financing facility for mini power grids, has announcing its first transaction to finance $5.5m for 60 mini-grids in Tanzania in partnership with PowerGen Renewable Energy.
East African investment company AHL Venture Partners will be acting as lead investor in Crop Nutrition Laboratory Services (Cropnuts). Dutch investment group DOB Equity is another investor. Cropnuts provides centralised laboratory testing (soil, water, plant and food safety) and other services.
Liquid Africa 18 July
Luxembourg-based InsuResilience Investment Fund has agreed to acquire a 39.25% stake in Royal Exchange General Insurance Company, one of the largest non-life insurance companies in Nigeria. Through its activities, the company is expected to reach more than 1-million farmers by 2025.
Africa Global Funds 18 July