Verdant IMAP has advised a leading UK private equity firm on the sale of Awash Wines SC, a leading Ethiopian wine producer, to a strategic investor consortium. The sale represented an 89% interest in Awash Wines SC. Founded in 1936, Awash Wines is one of the oldest and most established wine producers in Ethiopia, known for its range of quality wines, including the popular Axumit, Gouder, and Awash brands. The company has a rich history and has been instrumental in shaping the Ethiopian wine industry. The transaction reinforces Verdant IMAP’s position as a leading advisor to private equity clients in […]
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Category: Deals
Date: 29 August 2024
Verdant IMAP has advised Germany-based DEKRA SE on the sale of DEKRA Automotive (“DEKRA”), the largest independent vehicle testing group in South Africa. South Africa-based DEKRA specialises in legislated automotive roadworthy testing through its vehicle inspection and testing stations nationwide and also provides other non-regulated inspection services such as certification services, condition reports and technical inspection checks. DEKRA SE, headquartered in Stuttgart, Germany with operations in 60 countries, completed over 31 million vehicle tests in 2023. The transaction attracted strong interest from private equity and strategic buyers alike. The transaction reinforces Verdant IMAP’s position as a leading advisor in the […]
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Verdant has raised ZAR 40 million for Us Plus Limited (“UsPlus”) as a senior unsecured note through UsPlus’ JSE-listed social bond. The investment comes from an Africa-focused fund headquartered in Europe and was matched by an equal investment through local funding on the JSE making ZAR 80 million in total through the bond issuance. Furthermore, in parallel UsPlus drew down ZAR 60 million for a bilateral facility previously arranged by Verdant, making a total of ZAR 140 million of new funding this quarter (approx. USD 7 million). This substantial funding injection increases the total capital raised for the business by […]
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Polysmart, a leading Nigerian rPET manufacturer, is set for substantial growth through new offtake agreements and increased production capacity. Established in 2013, Polysmart excels in converting plastic waste into high-quality food-grade and non-food-grade rPET resins and pellets. The company has recently secured significant customer wins in Manuchar (Belgium), Rite Foods (Nigeria) and a leading global carbonated soft drink brand, affirming its capability to meet international quality standards. To address the rising demand for rPET, the company plans to expand its production capacity to 36,000 metric tons annually by FY 2025, seeking USD 35 million in debt and equity financing. Polysmart’s successful […]
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Amongst the various ecosystems Asante is active in is the Mass Transit ecosystem, where the business has been active in a unique opportunity of financing bus companies. Its partner in this ecosystem is a technology company that has been providing innovative solutions for bus companies in Rwanda and Cameroon since 2015. The partner provides cashless solutions for bus companies to collect revenue, alleviating risks associated with cash payments. Bus transport is the leading means of transport in Rwanda and the business is managed and operated by formalised bus companies that are regulated by the Rwanda Utilities Regulatory Authority. At the back […]
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Verdant Capital has advised a leading UK private equity firm on the sale of Biyinzika Poultry International Limited (“BPIL”), a vertically integrated poultry business in Uganda, to an investor consortium including a US single-family office and a regional industry executive. The sale represented a 100% interest in BPIL. BPIL was founded in 1990 as a poultry breeder farm and has grown steadily over the years to establish itself as a key player in the Ugandan poultry industry. It is a leading supplier of day-old chicks, poultry feeds, broilers, and branded and unbranded dressed chicken. It trades under brand names, including […]
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Pan-African investment bank and investment manager completed 18 transactions in 2023 and received accolades from the prestigious Africa Global Funds awards. The firm won Best Independent Advisory Firm – pan-Africa and Best Advisory Firm to Private Equity. In 2023, Verdant Capital further emphasised the strength of the pan-African franchise, completing five transactions in South Africa, two in other SADC countries, eight in East Africa and three in West Africa. Eleven of the transactions were for private equity investors or portfolio companies of private equity. Verdant Capital, a successful investment bank operating since 2013, in 2021 established an investment management division […]
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Unguka Investment Group, Incofin and Progression Eastern Africa Microfinance Equity Fund (together, the “Shareholders”) have sold a controlling stake in Unguka Bank Plc (“Unguka Bank”), a leading microfinance bank in Rwanda, to LOLC Mauritius Holdings Limited, a subsidiary of LOLC Holdings Plc (“LOLC”). Verdant Capital is pleased to have acted as the financial advisor to the Shareholders for this transaction. Unguka Bank was founded in 2005 and operates as a microfinance bank with 14 branches across Rwanda. The bank offers a broad range of products and services which include loans, savings, and other offerings such as money transfer services. Key […]
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Bridge Taxi Finance (“Bridge Taxi”), a Mokoro Holdings subsidiary, is a development company offering finance and support products to the minibus taxi industry in South Africa. This includes strategic investments and associations in various industries supporting the developmental finance chain, from taxi finance to logistics, credit solution services, supply of parts, and vehicle servicing. South Africa’s taxi industry plays a vital role in the country’s economy, accounting for over 70% of all public transport trips, and is the most widely used form of public transport in Africa. The EUR 10 million facility from Triodos Investment Managers is an introduction and […]
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The investment will help provide thousands of self-employed entrepreneurs operating as motorbike and tuk-tuk taxi riders or courier or delivery drivers in Kenya with greater economic empowerment and asset ownership opportunities. Verdant Capital is pleased to announce that its Verdant Capital Hybrid Fund (the “Fund”) has completed a USD 7 million dual-tranche investment comprising a subordinated loan and senior secured loan to Mogo Auto Limited (“Mogo Kenya”), a subsidiary of Eleving Group operating in Europe, Asia, and Africa. This investment is the third for the Fund. The investment will help Mogo Kenya expand its portfolio of motorbike (fuel and electric-powered […]
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Mobile money has been a leading technology in the digital transformation of the African financial economy and the move towards total financial inclusion. According to the GSMA, sub-Saharan Africa alone accounts for approximately 70% of the USD 1 trillion global mobile money market. At the heart of the mobile money, ecosystem is “cash in, cash out” agents or mobile money microenterprises who convert physical cash to digital money or vice versa for clients for the purposes of electronic bill payments, peer-to-peer payments, safekeeping, etc. Data from a recent assessment on the proliferation of mobile money financing by Microsave Consulting for The […]
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MFS Africa has completed the acquisition of Baxi taking its footprint into Nigeria, Africa’s largest economy and perhaps its most dynamic fintech market. The transaction was first announced in November 2021 pending approval of the Central Bank of Nigeria, which has now been achieved. As well as providing a market entry into Nigeria for MFS Africa, the combination provides exciting synergies: Baxi simplifies and integrates online and offline payments for SMEs and merchants in Nigeria through its omni-channel distribution network; MFS Africa simplifies cross-border payments, integrating payments via one hub. Baxi’s growth has accelerated over the last 24 months achieving […]
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Verdant Capital Advises on USD 124 Million Equity Raise for WIOCC Verdant Capital has successfully advised WIOCC Holding Company Limited (WIOCC) in raising USD 124 million in equity capital. Of this, USD 75 million was invested by CAPE IV, a fund managed by African Capital Alliance, a leading African private equity fund manager. Additionally, USD 30 million was invested by the International Finance Corporation (IFC) in a follow-up round. The remaining balance was contributed by management and existing shareholders. This equity raise has been complemented by a debt capital raise, bringing the total capital raised to USD 200 million. The […]
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MFS Africa is acquiring Baxi to expand its network into Nigeria, Africa’s largest economy and perhaps its most fintech dynamic market. Nigeria is also the largest remittance market in Africa representing one-third of intra-Africa remittance flows, and is home to the largest number of SMEs. Verdant Capital views the two businesses as highly complimentary: Baxi simplifies and integrates online and offline payments for SMEs and merchants in Nigeria through its omni-channel distribution network; MFS Africa simplifies cross-border payments, integrating payments via one hub. The transaction further extends Verdant Capital’s track-record of advising on transactions shaping the fintech sector in Africa. […]
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