Daily Digest Wed, Apr. 22, 2020
Introducing Co – investment deals in Africa
Global consulting firm, McKinsey says the total value of co-investment deals has grown to US$104 billion since 2012. Typical venture funds secure commitments from external investors (LPs), find portfolio companies to invest in and hire investment bankers to manage the fund. This funding method is not very common in Africa, however Future Africa Fund, an investment arm of Future Africa founded by Iyin Aboyeji, Chuba Ezekwesili, Olabinjo Adeniran and Adenike Sheriff in 2019 is testing the co-investment model. Read more
Funding in Southern Africa
Alexander Forbes divests insurance activity in Namibia
(Ecofin Agency) – Alexander Forbes Namibia Holdings (AF Namibia Holdings), 75% owned by the South African financial services group Alexander Forbes, announced it is selling all the shares it holds in its subsidiary Alexander Forbes Insurance Company Namibia (AFI Namibia). Read more……
Funding in West Africa
Kuda launches fund to combat COVID 19
Kuda, a Nigerian fintech startup has launched a COVID-19 fund to help buy and distribute food and other essentials to people badly affected by the economic impacts of the pandemic in Lagos. Read more…..
Funding in East Africa
Nairobi to the headquarters of M-Pesa after acquisition from Vodafone.
Nairobi is set to host the African headquarters of M-Pesa, putting the Kenyan capital at a vantage position to oversee penetration of the money transfer and payments platform across the continent. Read more…….
Funding in North Africa
Dirsuptech, the Egyptian fintech fund founded by Fawry’s former MD invests in Khazna & Brimore
Disruptech, the recently established Egypt-focused $25 million fintech fund founded by Fawry’s co-founder and former managing director Mohamed Okasha, and ‘leading finance guru’ Malek Sultan, has made its first two investments, it told MENAbytes today. Read more…..
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