JV to invest US$38m in establishing Rwanda’s first milk powder processing plant

RWANDA – TRIOMF East Africa, a joint venture firm owned by South African and Rwandan investors in collaboration with dairy farmers in Gicumbi District, Northern Province of Rwanda are set to establish a U$38m (Rwf37 […]

Amethis Fund II to acquire minority stake in Kenyan retail chain Naivas

KENYA – Amethis Fund II, Paris-based private equity fund is set to acquire a minority equity stake in Kenyan retail chain Naivas Limited in a deal estimated to be worth billions of shilling. “We are […]

Ezdehar acquires stake in Egyptian convenience foods manufacturer Rich Food Industries

EGYPT – Ezdehar Management, a private equity fund manager through its first fund, the Ezdehar Egypt Mid-Cap Fund has acquired an undisclosed stake in Rich Food Industries, a fast-growing manufacturer of convenience foods focused on […]

Malawi Agricultural and Industrial Investment Corporation launched

MALAWI – The newly established Malawi Agricultural and Industrial Investment Corporation (MAIIC) is now in full force to drive private sector led economic development in the country. MAIIC chief executive officer, Taziona Chaponda said during […]

African Development Bank approves US$124.2 million loan for water sector reforms in Nigeria

NIGERIA – The Board of Directors of the African Development Bank have approved a US$124.2 million loan to finance the Urban Water Sector Reform and Akure Water Supply and Sanitation Project in Nigeria to address […]

Varun Beverages Zimbabwe commission US$20m manufacturing plant

ZIMBABWE – Varun Beverages Zimbabwe (Pvt) Limited, franchise bottler of PepsiCo in the country has officially commissioned the US$20 million second phase of its manufacturing plant in Harare. Varun Beverages produces brands that include Pepsi, […]

PE firm DOB Equity invests in Tanzanian vanilla flavour manufacturer NEI

TANZANIA – Dutch DOB Equity, a family-backed impact investment firm has invested in Natural Extracts Industries (NEI), a natural vanilla flavour manufacturer, based in Moshi, Tanzania. NEI sources green vanilla pods from small-holder farmers in […]

Kenyan agri-tech startup Farmshine secures funding from American investor

KENYA – Kenyan agri-tech startup, Farmshine, has raised US$250,000 investment from US-based impact investor Gray Matters Capital’s gender lens sector-agnostic portfolio coLABS (GMC coLABS) to expand its operations. Farmshine operates a global agriculture platform where […]