Actis invests $49m in Egyptian food business Mo’men

Emerging markets private equity investor Actis has invested $48.5m in Egyptian food business Mo’men Group for Foods. Actis’s investment will help the group pursue its planned expansion throughout Northern Africa and the Arabian Gulf region, the firm said in a statement.

Coast to coast with private equity

In April 2003, Gary Shayne listed his telecommunications company Celsys on the Zimbabwe stock exchange with a market capitalisation of 22million (about R167million) and became the youngest chief executive on that country’s stock exchange. He was only 32 years old.
When inflation rose to over 60000percent per year in 2005, Shayne decided to sell and head [...]

InVenFin launched to fund and develop early stage entreprenuers

Jannie Durand InVenFin Chairman and VenFin CEO commented: “We have established InVenFin to provide specialist funding and support to inventors at an early stage, to develop their IP and eventually succeed in corporatising it, which sets the platform to realise the long-term growth potential of the IP. As a venture capital fund, we will typically [...]

Saudi group buys stake in Egypt’s Oriental Weavers

CAIRO (Reuters) – Egypt-based rug and carpet maker Oriental Weavers sold 941,291 of its own shares on Wednesday to a strategic consortium led by the Saudi-based private equity group Amwal AlKhaleej, the company said.
In a statement received on Thursday, the company did not state the price but the shares traded on Wednesday at between 58.80 [...]

MTN continues talks with India’s Reliance Communications

JOHANNESBURG (Reuters) – South African mobile phone operator MTN Group said on Wednesday it had agreed to extend its exclusive talks with India’s Reliance Communications until July 21, 2008.
“There is no certainty that these discussions will result in a transaction. Accordingly, shareholders are advised to continue to exercise caution when dealing in MTN securities,” MTN [...]

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SA Private Equity gains confidence

South African private equity firms are increasingly looking at the rest of the continent, spurred by the success of local telecoms and retail companies in Africa’s frontier markets, according to KPMG.
Africa’s biggest economy accounted for more than 70 percent of the sub-Saharan region’s $2.9 billion of private equity deals in 2008, but this share is [...]

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