Private Credit
FCMB Asset Management, the asset management subsidiary of FCMB, plans to launch a $63 million private credit fund targeting mid-sized Nigerian companies. Why it's important: In Nigeria, many mid-sized growth companies have well-structured operational models and clear paths to profitability. However, these companies struggle to access funds for
Insights
Infrastructure Finance
Africa Infrastructure Investment Managers, an infrastructure private equity firm with $2.8 billion in assets under management (AUM), has successfully completed the initial closing of its African Infrastructure Investment Fund 4 (AIIF4) at $230 million, with a target size of $500 million. Some Context : The fund, which has a 13-year
Economics
Ethiopia has implemented the flotation of its birr currency in the open market as a measure to stabilise the currency and address the increasing demand for foreign currency needed for exports and economic initiatives. Why is this important: The Ethiopian government has recently implemented significant measures aimed at enhancing its
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Bonds
Cameroon has recently made its debut in the international credit markets through the issuance of $500 million in bonds. Despite the heightened interest rates, these bonds have garnered significant demand from various African nations namely Kenya, Ivory Coast, Senegal since the outset of 2024, thereby bolstering fiscal capabilities and enabling
Ratings
The African Union (AU) a continental union of 55 member states is planning to launch its own credit rating agency according Bloomberg. Why is this important: This initiative is motivated by a growing concern among African governments about the objectivity of major credit agencies' assessment of African countries, which
Industries
Amsons Group, a Tanzania-based family-owned conglomerate, has proposed a significant $180 million acquisition bid for the entire stake of Kenya-based Bamburi Cement through its Kenyan subsidiary and investment vehicle, Amsons Industries Ltd. Why does it matter: This move lies in the fact that it is regarded as one of the
Briefings
This week's interesting GPs and LPs dealmaking events * Star Garments, a Sri Lanka-based apparel manufacturing company, has secured a $15 million loan from the International Finance Corporation (IFC) to build Togo's first large-scale, export-focused apparel manufacturing center. * Ghana-based Oasis Capital has announced the first close of
Merger and Acquisition
Moody's, the global rating agency, has completed the acquisition of GCR Ratings, a prominent credit rating agency in Africa, gaining full ownership. Why does it matter : GCR Ratings has a strong presence in several of Africa's most robust economies, including South Africa, Nigeria, Kenya, and Mauritius.
Briefings
A weekly round of GPs and LPs activities. * Global Social Impact Investments (GSI), an impact investment fund manager, has secured a €15 million commitment from the Spanish Agency for International Development Cooperation (AECID). This will increase GSI's investing capacity in high-impact African companies. * Renew Capital, an Africa-focused impact
Insights
A group of petrostates in Africa, represented by the Africa's Petroleum Producers Organisation (APPO) and Afreximbank, have collaborated to create the Africa Energy Bank with an initial capital of $5 billion. The bank funded by member states, with participation from other African investors as shareholders and national oil