Criterion Africa Partners's exit, Harith General Partners new fundraising

British International Investment (BII) new $200m investment,Fido's $30 million funding round

Dear Africa Finance Review Reader,

A weekly round-up of African M&As, Exists, Funding Raising, PE , and VC investments news.

Private Equity Updates  :

• British International Investment (BII) is joining Norfund, the Norwegian Investment Fund for developing countries, in a joint venture with Scatec ASA is investing up to $200m of capital committed over the next several years to provide capital for Africa’s hydropower sector.

Venture Capital Deals:

• Fido, a Ghanaian micro-lending startup has raised $30 million in equity and an undisclosed debt round from Fortissimo Capital, an Israeli private equity fund, that led the investment.

• mTek, a Kenyan insurtech has raised $3 million from Finclusion Group to expand the market for its service which allows users to buy insurance from insurers.

• Healthtracka, a Nigerian at-home lab testing platform raised $1.5 million from Ingressive Capital, Hustle Fund, Alumni Angel Alliance, and Flying Doctors.

• Thepeer, an African-focused API startup connecting businesses, has raised a $2.1 million seed round led by the Raba Partnership.

M & A Activities:

• MNT-Halan ,Egyptian-based microfinance and, digital payments solutions provider have acquired the leading shopping platform Talabeyah. The acquisition comes nine months after the company completed a $120 million funding round to strengthen its operations.

• Mirova a Paris-based impact investor has acquired SunFunder, a private debt management firm that finances renewable energy projects in Africa and Asia, to expand into emerging markets and real assets.

• French sovereign wealth fund Proparco in partnership with the Mauritian conglomerate IBL Group and DEG, a subsidiary of German KfW Group, to jointly acquire a $31.5 million for 40% interest in Naivas International, which owns 100% of the shares of Naivas Ltd, a leading modern retail chain in Kenya.

Exists

• Criterion Africa Partners an Africa-focused private equity firm has exited its investment in Compagnie des Bois du Gabon (CBG) through the sale of its 49% stake to TotalEnergies.

Fund Raising

• Harith General Partners a leading Infrastructure Investor and African power provider Anergi Group have partnered to establish the US$300 million Pan-African Renewable Energy Fund (PAREF)  to bridge the energy access gap across the continent while contributing to the transition of energy by accelerating Africa’s move to low-carbon economies in a socially responsible manner.

Private Debt

• FMO the Dutch entrepreneurial development bank has proposed to invest up to EUR 5.5m (consisting of EUR 2.5m (with an option for a EUR 500k top-up) through a convertible note and EUR 2.5m mezzanine. FMO investee Energy Access Ventures Fund (“EAVF” or the “Fund”), has invested EUR 4.5m in the Company’s previous round through EUR 1.5m in equity and EUR 3m in Mezzanine.

People Moves:

• The African Development Bank has announced the appointment of Mr. Jacques Edjangue as Acting Vice President, People, and Talent Management Complex.

If you were forwarded this newsletter and you like it, you can subscribe 

Thanks for reading the Africa Finance Review. Have an excellent week ahead. Please send us any feedback, news, or suggestions to info@africafinancereview.com. Please ask your friends and colleagues to sign up.