Verdant Capital turns 10 today. We would like to thank all our clients and partners for the great decade we have enjoyed. We look forward to the next decade of successful collaboration. #VerdantCapital #10thanniversary #VerdantCapital@10years
Read morePrivate Equity Africa (PEA) has announced that the Local Financial Advisor of the Decade award has been won by Verdant Capital. Verdant Capital also won the Local Financial Advisor Award of 2022 for the second year running. In their 11th year, the PEA awards are the ultimate accolade of success in the African Private Equity industry. The PEA 2022 Awards received highly competitive self-entries and were complemented by editorial recommendations from the PEA team and industry data. The final winners were selected by an independent panel of 20 judges which included representation from CDC, DEG, EBRD, IFC, Mbuyu Capital Partners, Wimmer Family […]
Read moreSenamile Mazubane has joined Verdant Capital as the Fund Accountant and Finance Manager, and is responsible for the Verdant Capital Hybrid Fund I and the Verdant Capital Group. Senamile is a qualified Chartered Accountant from Sanlam Group, with technical expertise in group consolidated reporting, fund accounting for local and international funds, and funds of funds, non-listed asset class investment reporting and regulatory reporting for financial services. While at Sanlam, Senamile also gained experience in investment management reporting, internal auditing for the investment business and corporate tax. Before joining Verdant Capital, Senamile had a diversified career and gained a variety of experience with over […]
Read moreTugende, the innovative fintech platform for MSME credit and asset-financing in East Africa, closed in Q2 pre-Series B equity funding from existing shareholders led by Partech and two new investors, including Women’s World Banking. The new investors add to the diversity of Tugende’s shareholding and complement the experience and skills that each contribute to Tugende’s growth. Along with a recent debt closing, the combined USD 10 million investment further strengthens Tugende’s balance sheet, allowing it to increase portfolio growth and address a significant credit demand amongst MSMEs, particularly after the strict lockdowns of 2020 and 2021. Tugende continues to deliver this MSME […]
Read moreJohannesburg, August 10, 2022: Verdant Capital has raised USD 10 million of debt funding for Zeepay. The medium-term debt raise, which forms part of its A.5 series, comes to support Zeepay in a bid to augment its fast-growing remittance to wallet business. The debt funding is intended to support the rapid growth of the business. In 2021, the company processed USD 1.8 billion of transactions volumes, cross-border and domestically. It is the vision of the Founder and Managing Director, of Zeepay, Andrew Takyi-Appiah I, to reach the milestone of USD 200 billion of annual transaction volumes in the long-term. […]
Read moreThe investment will help provide thousands of motorbike taxi (boda boda) drivers in Uganda with greater economic empowerment and asset ownership opportunities. Verdant Capital is pleased to announce that its Verdant Capital Hybrid Fund (the “Fund”) has made its first investment, in Watu Credit Uganda Limited (“Watu”). The investment of USD 7 million will help Watu expand its footprint of two-wheeler financing throughout the country. This represents an important milestone for Watu in Uganda, it’s second largest market after Kenya, where the business was first established in 2015. In addition, Watu is expected to benefit from initiatives supported by the Fund’s […]
Read moreIn an environment susceptible to external shocks, Trader Direct offers a way for informal retailers to grow their businesses with minimal risk. Even a small increase in monthly sales can have a huge impact on the lives of informal retailers and their families. Nomanini serves a high proportion of first-time digital finance users. 82% of these retailers are accessing a service like Trader Direct for the very first time and cannot easily find a good alternative. This indicates that Nomanini is providing a service that agents would struggle to find elsewhere as well as filling a pertinent gap in the […]
Read moreJohn joins Verdant Capital as Environmental & Social and Technical Assistance Facility Manager. He is an experienced environmental and social expert with technical expertise in environmental and social impact assessment and best international practices for project financing. His experience spans 7 years of managing environmental and social risks, conducting environmental impact assessments and management, and implementing land access and resettlement plans. He is experienced in the development of Environmental and Social Management Systems (“ESMS”) and Environmental and Social Management Plans (“ESMP”) for private sector clients. Before joining Verdant Capital, John worked in the oil and gas industry with Tullow Oil, […]
Read moreNomanini, a pioneering integrated digital fintech platform that connects merchants, distributors and service providers to overcome fragmentation, launches StockNow, a digital retailer solution, to bring affordable working capital to Africa’s informal retail markets. StockNow is an easy-to-use app that makes it possible for informal micro and small retailers to purchase stock digitally and conveniently. The app connects retailers to distributors of global FMCG brands relevant in the general trade market, enabling retailers to purchase goods using stock advances to keep their shelves stocked with essential goods, ensuring business continuity and support for last-mile consumers. Ten million informal retailers in Africa […]
Read moreVerdant Capital hosted its third annual Video Africa virtual investor conference on March 2022. Over the three days, more than 105 one-on-one meetings were held with thirty-one leading relevant investors from eleven countries and sixteen of our specially selected clients with operations in thirteen countries across Africa, ranging from fintechs to inclusive financial institutions. Represented were microfinance banks, credit-only institutions, innovative credit businesses, technology-driven leasing businesses, payment companies and insurtechs who are currently raising debt or equity through Verdant Capital’s investment banking businesses. The first Video Africa was held in 2020 within the first weeks of the disruption caused by the Covid-19 […]
Read moreVerdant Capital was ranked joint No 1 by M&A deal flow for 2021 in the prestigious DealMakers Africa leagues tables, for the pan-Africa (ex-South Africa) region overall. DealMakers is the pre-eminent league table agency for Africa and announced its results for 2021 on March 11, 2022 In the East Africa region league table (deal flow), Verdant Capital finished joint first. In West Africa, Verdant Capital finished second. Landmark transactions completed by Verdant Capital in 2021 include the USD 80 million capital raise for leading pan-African telecoms infrastructure company, WIOCC, the USD 25 million capital raise for leading East Africa tech-enabled […]
Read moreThe event will be 1-on-1 video conferences; the “Meetings” will be 50-55 mins each. The deadline for scheduling is Friday 11th of March, 2022. We are pleased to be hosting 15 of our prestigious clients. The countries represented will be Botswana, Democratic Republic of Congo, Eswatini, Ghana, Kenya, Lesotho, Malawi, Mozambique, Namibia, Nigeria, South Africa, Tanzania, Uganda and Zambia. The types of companies will include but are not limited to, Insurance, Innovative credit, Insuretech, Fintech, MSE Bank, Renewable Energy, MFI, SME Lender, Leasing, BNPL, Mobile Financial Services, Credit only businesses, Invoice Discounting, Deposit-taking businesses and Media. Please send an email to video.africa@verdant-cap.com to secure a spot. For a more […]
Read moreVolker has joined VC Germany Management GmbH as AIFM Managing Director. Volker has over 25 years of senior management and governance experience in development finance, SME-and microfinance, financial inclusion, project and change management. Volker currently acts as board director for several banks and non-bank financial institutions of the FINCA Impact Finance network, focusing on MSME business. Since 2019 he has also acted as Supervisory Board Member of FLOCERT GmbH in Germany, the global certifier for Fairtrade. Volker has worked as senior management in multiple positions including FINCA Impact Finance, Internationale Projekt Consult and ProCredit Bank Ukraine, he brings with him […]
Read moreVerdant Capital is pleased to announce its third annual Video Africa virtual investor conference this coming March. Last year, Verdant Capital held its 2nd Video Africa event over three days in March, arranging more than 140 one-on-one meetings with over 45 leading relevant investors from 22 countries, and 18 of our selected clients with operations in 13 countries across Africa, ranging from fintechs to inclusive financial institutions. Represented were microfinance banks, credit-only institutions, innovative credit businesses, technology-driven leasing businesses, payment companies, and insurtechs raising debt or equity through Verdant Capital. The event responds to changing patterns of doing business following […]
Read moreJohannesburg, Republic of South Africa January 14, 2022 Verdant Capital and KfW establish new fund to support MSME growth in Africa Verdant Capital Hybrid Fund initially has USD 36 million of committed capital Support for micro, small and medium-sized enterprises (MSME) through investment in financial institutions Better access to financing, creation of employment and income generation for MSME in Africa Verdant Capital Hybrid Fund (VCHF) has reached its first closing with committed capital of USD 36 million. The fund is targeting high developmental impact, including job creation and income generation through SMEs and micro-entrepreneurship. The fund will be investing hybrid […]
Read moreTugende, East Africa’s leading innovative MSME credit and asset-financing business, has closed an additional USD 16 million in debt financing. The overall funding round has been structured to include a subordinated debt tranche into the Ugandan subsidiary providing partial equity credit to be leveraged by senior lenders, as well as senior debt funding for its younger but rapidly growing Kenyan subsidiary. This latest round of debt funding was led by a leading European development finance institution (“DFI”), existing MSME-focused impact investors that increased their commitments to Tugende, and a decentralized credit platform backed by an iconic Silicon Valley-based venture capital […]
Read morePrivate Equity Africa (PEA) has announced that the 2021 Local Financial Advisor Award Winner is Verdant Capital! In their 10th year, the PEA awards are the ultimate accolade of success in the African Private Equity industry. The final winners were selected by an independent panel of 20 judges which included representation from CDC, DEG, EBRD, IFC, Mbuyu Capital Partners, Wimmer Family Office, 27four Investment Managers and Family Office Data Alliance. The 36 winners beat stiff competition and will be presented with their trophies at the landmark 10th Annual PEA Awards Gala Dinner to be hosted in London in 2022.
Read moreKibo Capital Partners (“Kibo“) has sold its stake in the Kenyan logistics company General Cargo Group (“GCG“) to Velogic, the logistics arm of the Mauritian-based Rogers Group. Verdant Capital is pleased to have advised Kibo on this transaction. Kibo, which is focused on small and medium-sized enterprises in Sub-Saharan Africa and the Indian Ocean countries, has around $100 million in assets under management. It has backed 17 companies across nine countries. Verdant Capital is active in East African advisory and was ranked 3rd by DealMakers Africa for East African M&A in 2020. 2021 is also a strong year with four […]
Read moreVerdant Capital has advised WIOCC Holding Company Limited (or “WIOCC”) on an USD 80 million equity capital raise. USD 75 million of equity was invested by CAPE IV, a fund managed by leading African private equity fund manager African Capital Alliance. The balance was invested by management and an existing shareholder. The equity raised has been supplemented by a debt capital raise. The total capital raise of USD 200 million will be used to expand its connectivity within Africa and internationally, and through Open Access Data Centres (or “OADC”) – a newly created WIOCC Group company – to launch a […]
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The sale of Baxi is Verdant Capital’s fifth successful fintech transaction of the year, having advised Retail Capital, a leading tech-enabled SME-financier in South Africa on a USD 10 million capital raise; Zeepay, a leading pan-African digital remittance and mobile payments business on its USD 8 million Series-A and on its acquisition of Mangwee in Zambia; and Tugende, a leading tech-enabled SME-financier in East Africa on its USD 10 million Series-A. Verdant Capital’s transactions in the sector include landmark transactions across West, East and South Africa. In part because of its successful track-record in transactions in the fintech […]
Read moreAlpha Direct has successfully commenced operations in Zambia, its first overseas expansion. Sales have been promising to date. Alpha Direct has become the fifth-largest short-term insurance underwriter in their home market, Botswana, in under five years. Over the next five years, Alpha Direct plans to expand its product offering to include long-term insurance products and expand its footprint to include South Africa, Kenya, Egypt and Nigeria. In addition, Alpha Direct plans to license its products and technology in 10 African countries outside those where it has a physical presence. Alpha Direct recently won The African Insurance Award for Innovation of […]
Read moreVerdant Capital – IMAP South Africa recently hosted its proprietary Video Africa virtual investor conference. Edmund Higenbottam, Managing Director at Verdant Capital shares details on the conference’s origins and explains why investor conferences such as theirs are so vital in terms of helping drive essential capital raising activities especially during the current economic crisis triggered by COVID-19. What led to you to decide to host your own investor conference? The first Video Africa was held last year during the first weeks of the disruption caused by the pandemic. We had been due to attend a large investor event in London, […]
Read moreVerdant Capital is pleased to announce a new investment advisory partnership with Invest in Visions GmbH (“IIV”) of Germany. Under the partnership Verdant Capital will, on a pan-African basis, originate, prepare for execution, and monitor investments for IIV’s funds investing in inclusive financial institutions (“IFIs”). These institutions include microfinance banks non-banking financial institutions, credit-only institutions, leasing businesses, innovative or technology-driven credit businesses, as well as commercial banks that credibly serve SMEs. The partnership with IIV is an important additional pool of capital for Verdant Capital’s Specialist Funds platform. Verdant Capital Specialist Fund’s principal aim is to alleviate the impediments to […]
Read moreVerdant Capital ranked ninth in the DealMakers Africa pan-African M&A league table in 2020 in the recently announced awards. Verdant Capital operates on a pan-African basis in 2020 completed transactions in East Africa, Southern Africa and West Africa. The highest regional ranking for Verdant Capital was in East Africa where the firm finished third. Overall deal volumes in pan-African rankings in the pandemic impacted year were approx. flat with 489 completed transactions compared to 464 completed transactions in 2019. Aggregate deal value fell by approx. half, reflecting weaker activity in certain “big ticket” sectors such as Oil & Gas and […]
Read moreVerdant Capital hosted its second Video Africa virtual investor conference on March 2-4. Over the three days, more than 140 one-on-one meetings were held with 45 leading relevant investors from 22 countries, and 18 of our selected clients with operations in 13 countries across Africa, ranging from fintechs to inclusive financial institutions. Represented were microfinance banks, credit-only institutions, innovative credit businesses, technology-driven leasing businesses, payment companies and insurtechs who are currently raising debt or equity through Verdant Capital. The first Video Africa was held last year in the first weeks of the disruption caused by the pandemic. Given the success of the […]
Read moreVerdant Capital won the award in a period of record deal volumes in Africa, with some USD 500 million of capital raising and M&A in the Fintech sector in 2020. Verdant Capital successfully completed transactions in the sector in 2020 with a total value of USD 40 million. The capital raises included businesses such as Tugende, a leading technology enabled MSME lender in East Africa, Retail Capital, South Africa’s Leading SME-credit tech player, and Planet42, the first mover in the South African socially-inclusive car-subscription market. The transactions were notable both for the commercial success of the businesses and their broad-based […]
Read moreVerdant Capital is pleased to announce that two new members have joined the Investment Committee of the Verdant Capital Hybrid Fund. Sari Nikka previously served as the CEO of Norsad Finance, the Development Finance Institution (“DFI”) for Southern Africa. Prior to working for Norsad, she held senior investment positions at Finnfund, the Finnish DFI. Ms Nikka has served on various Boards and Board Committees of companies and investment funds investing in Africa, Asia, Latin America, and Eastern Europe. She has a range of experience from project finance, senior debt instruments, mezzanine, and equity investments, as well as financing solutions for […]
Read moreVerdant Capital is pleased to announce its second annual Video Africa virtual investor conference this coming March. The event responds to continuing travel limitations globally due to the Covid-19 pandemic, and the resultant impact on cross-border investment flows. Responding to the same challenges last year, Verdant Capital held its inaugural Video Africa event over three days last May, arranging more than 150 one-on-one meetings with over 50 leading investors for eight of our selected clients with operations in seven countries across Africa. This year’s event will be held from March 2nd to the 4th, and like last year will connect […]
Read moreAfrica Global Funds, the leading industry journal covering private equity and other asset classes across Africa, awarded this accolade to Verdant Capital in recognition of the firm’s major transaction volumes in 2020 across M&A and private credit and across the Continent. Geographically, Verdant Capital completed transactions in South Africa, Uganda, Kenya, Ghana, Namibia with buyers and investors from the US, Switzerland, Germany, the UK, Japan, the Netherlands, Belgium, the Baltics, South Africa, and Nigeria. To read the full list of winners please see https://www.agfawards.com/
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Over the past months, the financial inclusion sector has embarked on a journey to face the Covid-19 crisis. On the field, microfinance institutions have taken measures to face the health risks, lock downs and the economic recession. In the meantime, lenders, investors, support organisations and technical assistance providers had to adapt their intervention principles and coordinate their actions (1). By signing the Pledge on Key principles to protect microfinance institutions and their clients in the COVID-19 crisis (the “Pledge”), 30 organisations committed to complying with some key principles. Six months after the signature of the Pledge, a working group of […]
Read more Verdant Capital was pleased to be awarded the “Best Independent Advisory Firm – Pan Africa”, by Africa Global Funds’ (“AGF”) 2020 Africa Service Provider Awards. The Awards were created to generate industry and public recognition of Fund Service Providers covering Africa as well as to honour the awardees for their outstanding efforts and accomplishments. The 5th edition of the AGF Service Providers Awards are a recognized symbol of excellence as the organization is the only such international award for African Fund Services. Africa Global Funds provides comprehensive coverage and analysis of the African investment space, coving traditional and alternative assets classes of […]
Read moreVerdant Capital has signed the Memorandum of Understanding (MOU) on “Coordinating among MIVs in response to COVID-19”. Verdant Capital has long collaborated with other market participants on such initiatives and recognizes the constructive outcomes for the viability inclusive financial institution (IFIs) that can result from coordination and transparency at this critical juncture for the sector. Specific measures among lender groups to ease the burden on such institutions – such as consolidated reporting and liquidity forecasting templates and coordinated reconsideration of financial covenant thresholds and repayment schedules – can immediately alleviate liquidity pressures that provide these institutions with the ability to replicate […]
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Verdant Capital successfully held its inaugural Video Africa virtual investor conference on May 5-7. Over the three days, more than 150 one-on-one meetings were held with over 50 leading relevant investors and eight of our selected clients with operations in seven countries across Africa, ranging from microfinance banks to credit-only institutions and “fintechs”. For the foreseeable future, logistical challenges, especially around travel, will impact how cross-border investment flows are negotiated and diligenced. Video Africa plays an important role in stimulating access to finance for these types of institutions working within the parameters of the “new normal”. Such funding is important now […]
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Verdant Capital is pleased to announce that it has become a Signatory of the Responsible Finance Forum’s Investor Guidelines for Responsible Investing in Digital Financial Services For more info click here
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Given the increasing restrictions on travel in most countries, due to the Covid-19 pandemic, some impact on cross-border flows of investment are inevitable. However, Verdant Capital is committed to maintaining its funding initiatives for its clients as pro-actively as possible. In fact, the work of specialist banks, microfinance banks, microfinance institutions, and fintechs in facilitating credit to the real economy in Africa is now more important than ever. Over the last five years, Verdant Capital has arranged for clients each year in early May one-one-one investors meetings in London. In 2020, May 5 to May 7, Verdant Capital is hosting […]
Read moreThe survey results support our assertion that growth in senior debt funding available for microfinance/inclusive finance institutions has positively contributed to their growth, but also to the rising leverage levels for the sector as a whole. The key takeaways from the survey: 70% of participants responded that the amount of MIV funding available is growing. This response was consistent for the last and next twelve months prospectively, as well as for funds available to invest globally and also those specifically allocated to Africa. 50% of respondents confirmed that capitalization ratios for their MFI investees are lower than 12-18 month ago […]
Read morePatrick has joined the Johannesburg team as a Director. Patrick has over 14 years’ experience in investment management in both global private equity and microfinance investing. Patrick has worked at leading global investors including Doughty Hanson & Co, Deutsche Bank, Developing World Markets (DWM) and Incofin Investment Management. Patrick brings a broad range of skills and experience to Verdant Capital, including investment banking at Bear Stearns in New York and London, and as CFO of FINCA’s microfinance bank in the DR Congo. Patrick will be dedicated full-time to the Verdant Capital Hybrid Fund upon its first close. Verdant Capital is […]
Read moreIkponmwosa (or Ik. for short) joined Verdant Capital in August, to open Verdant Capital’s Lagos office. Verdant Capital’s office in Lagos is the firm’s fifth office in the continent, the others being Johannesburg, Accra, Kinshasa and Ebene. The physical presence in Nigeria is expected to increase the amount of business the firm executes in Nigeria, a market where Verdant Capital has been active at different stages in the cycle. Ik has over 18 years investment banking experience in West Africa. Prior to Verdant Capital, Ik performed similar roles at firms including Citi, FBN Capital / FBN Quest Merchant Bank, and […]
Read moreBrett is an experienced M&A banker who has worked at bulge bracket investment banks in London and Johannesburg including Deutsche Bank and Bank of America Merrill Lynch. In a 21-year career, Brett has also worked in M&A at Rand Merchant Bank, as an M&A specialist at Vodacom, and earlier in his career as an equity research analyst and as a strategy consultant. Brett has experience transacting in a range of sectors, including telecoms, mining, financial services, media, technology, healthcare, and industrials. Brett started work last month and reports to Edmund Higenbottam, Managing Director of Verdant Capital.
Read moreVerdant Capital finished in the top three in DealMakers East Africa corporate finance rankings. Verdant Capital, a specialist financial advisory firm operating on a pan-African basis, in 2018 completed high profile transactions in Southern Africa, Central Africa and East Africa. In East Africa Verdant Capital achieved its highest ranking, finishing second by deal volumes and third by deal value. In a competitive market for mergers and acquisitions advisory in Africa, the firm is differentiated by its global reach. Verdant Capital is the IMAP partner firm for Africa and, along with its partner firms in Morocco and Egypt, have eight […]
Read moreVerdant Capital has joined IMAP, the leading global M&A partnership, becoming the second partner firm in Africa. The IMAP partnership was established in the early 1970s and has over 500 M&A professionals spanning five continents. IMAP was ranked 8th in the global mid-market M&A league table in 2017 (source: Thomson Reuters). The partnership offers clients buy and sell-side M&A advisory on a global basis as well as related debt advisory and corporate finance services. www.imap.com. Becoming a partner of IMAP provides Verdant Capital’s M&A business with a global reach which is perhaps unparalleled in the middle-market in Africa. Going forward, all […]
Read moreElsewhere in the financial services sector, Verdant Capital has won the prestigious award Best Capital Raise in Africa, 2016 from Acquisition International for its ZAR 450 million capital raise for Trustco Group. The award is in recognition for the complexity of the transaction combining senior and subordinated tranches, as well as its size versus market benchmarks, as one of the largest transactions in the Namibian history. Separately, Verdant Capital has also been shortlisted for the African Banker award for Financial Inclusion, 2017
Read moreVerdant Capital, head-quartered in Johannesburg, is opening its fourth office, in Kinshasa, Democratic Republic of Congo. DR Congo is the seventh largest economy in Sub Sahara Africa and has a population of over 77 million. Imran Patel, has joined Verdant Capital as a Vice president, to open to the firm’s office in the country. Imran Patel, based in Kinsasha, has 15-years experience in investment management and business strategy. Following many years working for a leading North American hedge fund, Imran returned to DR Congo, the country in which he was raised. In addition to financial services, Imran has extensive experience in sectors […]
Read moreVerdant Capital has been awarded the prestigious Africa M&A deal of the year (2016) by Acquisition International, for its USD 51 million sale of Greenbelt Fertilisers to Yara International. The transaction, which is one of the largest transactions in the fertiliser sector in Africa in recent times, completed in May 2016 following COMESA competition authority approval. The transaction is part of a broader global trend whereby the largest upstream producers are buying up regional fertiliser blending and marketing businesses. Over the last five years there have been 30 such transactions globally (about a quarter of which in Africa) for a […]
Read moreVerdant Capital’s Johannesburg office has moved. Our new address is: Ground Floor, Northview Building 57 Sixth Road Hyde Park 2196 Our new switchboard number is +27 10 140 3700.
Read moreVerdant Capital achieved a top 15 ranking in the M&A league tables for Africa in 2015 published by DealMakers following their annual awards dinner in Johannesburg last week.
Read moreVerdant Capital has completed four cross-boarder transactions in 2015. In recognition of the strength of its cross border franchise, Verdant Capital was awarded the accolade of Best Corporate Finance Firm in South Africa, 2015 by Acquisition International. Following its transaction in agri-chemicals in South Africa last quarter, the sale of Greenbelt Fertilisers is Verdant Capital’s second transaction in the agri / fertilisers sector this year alone. Over the last two years Verdant Capital is perhaps the most active firm in Africa in this sector.
Read moreVerdant Capital has opened an office in Accra, Ghana, and now has a total of three offices (Johannesburg, Ebene, Accra). The Accra office will be led by Kwabena Appenteng, Vice President. Kwabena has extensive corporate, entrepreneurial and corporate finance experience in Ghana and beyond, including as Senior Private Sector Officer at US AID. Save Save
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