The Sub-Saharan African opportunity represents one of the biggest growth stories
in emerging markets private equity. Once generally overlooked by investors,
fundraising activity in Sub-Saharan Africa has almost tripled from US$800
million in 2005 to over US$2.2 billion in 2008.
Having held up reasonably well until last autumn, the South African
economy is now feeling the pinch of the global slowdown. And, while the
medium-term outlook for deals is reasonably healthy, the short-term picture is
not looking rosy.
One of the prevailing themes at PEI’s inaugural Africa Forum over the last two
days has been fundraising. LPs and GPs from all over the continent gathered in
London to swap notes and learn from each others’ experiences and one very clear
message emerging from both coffee-cup chats and organised panel discussions, was that fundraising in this market can be a painful and frustrating process.
Linked unitholders of the company are referred to the funding structure, as
detailed in the pre-listing statement dated 7 July 2007, and are advised that,
given the current state of the international and local debt markets, a
consortium of investors, including funds managed by Actis LLP, funds affiliated
with Ethos Private Equity Limited ...
Clickatell is set for major expansion in Africa and the Middle East. The expansion will see Clickatell offering a range of value-added services including mobile messaging, mobile marketing and mobile banking enablement for several major banks, retailers and service providers across the region. Clickatell continues to focus on enabling large and small enterprises to reach and transact with their customers via the now nearly ubiquitous mobile phone platform.
Pieter de Villiers is convinced that the
telecommunications industry in emerging markets is going to help lead the world
economy out of its funk. The CEO of Clickatell, a cellphone messaging company
he co founded in Cape Town in 2000 at the peak of the last bubble, De Villiers
now lives in Silicon Valley on the US West Coast.
Ethos Private Equity has led a joint bid culminating in Ethos and Old Mutual
Private Equity investing in Idwala Industrial Holdings Ltd (Idwala). Tiso Group
(“Tiso”), and Idwala management will remain invested in Idwala alongside Ethos
and Old Mutual, while RMB Ventures is exiting their four year investment.
Ethos Private Equity and Old Mutual Private Equity have invested in the African
Northern Cape-based lime and calcium processing plant Idwala Industrial, for a
reported 44 % stake. The deal represented an exit for the Tisco Group and RMB
A PRIVATE equity fund formed to invest in tech
companies has taken a stake in financial software developer CQS Technology
Ethos Private Equity is pleased to
announce its investment in CQS Technology Holdings, a specialist
financial software company. Investment focuses on growth and facilitates black
empowerment transaction with Kapela Investments
Mark Lamberti, former CEO of Massmart (JSE:MSM),
resigned as a non-executive director of Altron (JSE:ATN) because it conflicted
with his new job as executive chair of Transaction Capital.
All dressed up, nowhere to go. With about R50bn of
committed, but unspent, capital and tighter conditions both here an
internationally, how are private equity funds keeping busy?
From the seventh position in 2007, Oceanic Bank
International Bank Plc has emerged the number one bank in Nigeria, according to
a recent financial report from the reputable and widely acclaimed global
financial intelligence, The Banker Magazine, a subsidiary of Financial Times of
London, in a fresh review of the top 1,000 banks in the World, released last
The secrets behind re-inventing another successful
South African restaurant chain, a step at a time... Since joining Maxi's MD
Christo Calitz has been tasked with re-inventing and updating the Maxi's brand,
a chain with 47 outlets around SA.
Ethos confirms that it has sold its interest in IST Dynamics to BAE Systems for an undisclosed sum.
Advertising agency Ince has scooped the Advertising
Agency of the Year award for the third time since 2005 in the annual Business
Day Investor Relations Award. In second place is Overend Outsource and Terranova
Ethos Private Equity today received overwhelming minority shareholder approval
to acquire JSE-listed, The House of Busby, in partnership with management and
black empowerment private equity firm, Sphere.
Ethos Private Equity has sold Tsebo Outsourcing Group
ETHOS Private Equity had sold its entire stake in
black-owned hospitality and facilities management firm Tsebo Outsourcing Group
to a consortium led by Absa Capital for an undisclosed amount, Tsebo CEO Clive
Smith said on Friday.
Shareholders in Tiger Automotive (TiAuto) yesterday
voted in favour of the sale of all the shares in the listed retail and wholesale
after-market wheel and tyre company to Ethos Private Equity for about R1.5
billion, and for the delisting of the firm.
Ethos Private Equity today secured overwhelming shareholder approval to acquire
and delist Tiger Automotive Ltd. (TiAuto) from the JSE.
An Ethos Private Equity-led consortium has today announced a pioneering
strategic investment into leading Nigerian Bank, Oceanic Bank International Plc. The consortium, comprising Ethos Private Equity and
Old Mutual Investment Group South Africa, invested US$130 million in
Oceanic’s recent public offering.
We are on our fifth buyout fund; our funds have increased exponentially over
time in terms of size. This is not uncommon in the global market but in our case
it is very much part of our strategy to keep at the large end of the South
African buyout market.
Fund raising in Sub-Saharan Africa is gathering
momentum as emerging market limited partners turn their attention to one of the
world's final investment frontiers...
Ethos Private Equity had a war chest of R5.5 billion in its Ethos Private Equity
Fund V to fund its investments, Bill Ashmore, a partner, said yesterday.