Local-currency PE funds could unlock Africa’s pension capital base

Domestic PFAs remain underexposed to PE. Fund structures are the missing link

Agriculture Transaction Brief: Ghanaian agri-tech firm, Complete Farmer, raises €2.2m ($2.5m) from EU-backed agricultural fund

Energy-efficient, AI-ready facilities are driving Africa’s next wave of digital infrastructure growth.

Data Centres in Africa: Business Model, Growth, Competition (June 2025)

We analyse the African data centre industry, focusing on key growth drivers, competitive dynamics, and investment opportunities.

Energy Transaction Brief: Globeleq finalises share purchase agreement with Norfund for buyout of Zambia’s Lunsemfwa hydro company

Globeleq signed an SPA to acquire 51% of Zambia’s Lunsemfwa Hydro Power Company, operating 56MW hydro and a 20MW solar project.

Stears Valuation Benchmarks (2024): African Private Markets by EBITDA margins

The Stears Valuation Benchmark by EBITDA margins analyses valuation multiples across different EBITDA margins in Africa's private capital markets

Consumer Goods & Services Transaction Brief: Peach Cars, Kenya’s used car marketplace, closes $11M Series A

Kenya’s Peach Cars raised $11M to build Africa’s most trusted used car marketplace with tech-driven solutions.

Stears Valuation Benchmarks (2024): African Private Markets by Revenue Band

The Stears Valuation Benchmark by Revenue Band analyses valuation multiples across different revenue band in Africa's private capital markets

Agriculture Transaction Brief: Wilmar acquires remaining 50% equity stake in PZ Wilmar from PZ Cussons for $70M

Wilmar acquires remaining 50% equity stake in PZ Wilmar from PZ Cussons for $70M

Stears Valuation Benchmarks (2024): African Private Markets by Region

The Stears Valuation Benchmark by Region analyses valuation multiples across different regions in Africa's private capital markets

Energy & Utilities Transaction Brief: South African solar provider, Wetility, secures R500M ($27.7M) in equity funding

Wetility, a solar fintech company, has raised $ 27.7 million from Jaltech (Pty) Ltd, a South African boutique alternative investment fund manager

Stears Valuation Benchmarks (2024): African Private Markets by Buyer Type

The Stears Valuation Benchmark by Buyer Type analyses valuation multiples across different buyer types in Africa's private capital markets

Financial Services Transaction Brief: LemFi acquires UK-based fintech, Pillar

Pillar acquisition grants LemFi FCA credit license, enabling new credit services for remittance users

Limited Partner Profile: Belgian Investment Company for Developing Countries (BIO)

We provide the key information on the Belgian Investment Company for Developing Countries (BIO)

Energy Transaction Brief: SA-H2 invests $20M in South African Hive Hydrogen Coega Green Ammonia Project

Energy Transaction Brief: SA-H2 invests $20M in South African Hive Hydrogen Coega Green Ammonia Project

Stears Valuation Benchmarks (2024): African Private Markets by Sector

The Stears Valuation Benchmark by Sector analyses valuation multiples across different sectors in Africa's private capital markets

Financial Services Transaction Brief: Mathesis Analytics partially exits Migo Nigeria to First Ally Capital

7yr outlook backs capital flows to Morocco, Senegal, Côte d’Ivoire; Migo exit signals pivot from non-core operations

Stears Methodology Note: Stears Valuation Benchmarks

Data methodology

Consumer Goods & Services Transaction Brief: South African vehicle leasing company My Next Car secures $10M debt funding

1,500 low-cost vehicles expand SA ride-hailing market

Agriculture Transaction Brief: South African Agri-tech Nile secures US$ 11m to fuel regional expansion

Nile’s $11m funding accelerates agri-tech growth; Stears’ expanded CPI data across 13 countries refines PE decision-making

Energy Transaction Brief: Solar Panda acquires Zambia’s first Paygo solar company

Zambia PAYGO offers scale in 69% off-grid market; new inflation model enhances pricing of risk and return

Stears Methodology Note: Pan-African Inflation Forecast

Stears Methodology Note: Pan-African Inflation Forecast

Limited Partner Profile: Egyptian-American Enterprise Fund (EAEF)

We provide the key information on the Egyptian-American Enterprise Fund (EAEF)

Healthcare Transaction Brief: IFC proposes $10M seed investment in Senegal’s AI-enabled healthtech company, KERA

IFC seed signals PE appetite for AI healthtech; stronger naira & infra inflows widen runway

Financial Services Transaction Brief: Moniepoint gains approval from Kenya’s competition authority for 78% buyout of Sumac Microfinance Bank

Moniepoint enters Kenya’s banking sector with Sumac acquisition

Energy & Utilities Transaction Brief: E Squared completes first venture philanthropy transaction into South Africa’s Regenize

Regenize receives patient, catalytic investment fueling job growth and diverting 30,000 tonnes of waste.

Limited Partner Profile: Deutsche Investitions- und Entwicklungsgesellschaft

We provide the key information on Deutsche Investitions- und Entwicklungsgesellschaft (DEG)

Technology Transaction Brief: Wingu Africa secures $60 million from Rand Merchant Bank to power East Africa’s digital infrastructure

RMB funds Wingu Africa's expansion, accelerating next-gen infrastructure across East Africa's rapidly growing digital market

Financial Services Transaction Brief: Dragonfly and Altos Ventures co-lead Conduit's $36M Series A to support stablecoin expansion in Africa

Conduit volumes up 16x to $10bn in 2024; regulatory gaps may temper investor returns

June 2025 Africa Macro Outlook: South Africa, Egypt, Nigeria, Ghana, Kenya, Cameroon, Morocco, Senegal, DRC & Cote D'Ivoire

We analyse economic developments across ten African countries, providing the implications and outlook.

Energy Transaction Brief: Cygnum Capital, Enabling Qapital back NewGas with $18.2M debt

NewGas plans to increase LPG bottling capacity, accelerating cleaner cooking for 3m+ households

Industrials Transaction Brief: South Africa’s Catapult Group procures R250 million mezzanine debt financing from Kholo Capital and Maia Capital

Khola and Maia provide mezzanine loan for Catapult's expansion in South Africa's construction market

Energy Transaction Brief: All On invests ₦2 billion in Salpha to expand clean energy access in Nigeria

N2 bn funding to scale Salpha’s local assembly, expanding energy access to 2m+ lives

Limited Partner Profile: Development Finance Institute Canada

We provide the key information on the Development Finance Institute Canada

Consumer Goods and Services Transaction Brief: BII invests $5M in ARC Ride for Kenya’s e-mobility push

Consumer Goods and Services Transaction Brief: BII invests $5M in ARC Ride for Kenya’s e-mobility push

Financial Services Transaction Brief: MaC Ventures leads $4.2M seed round for Carrot, Nigeria’s asset-backed consumer lender

Platform converts digital assets to credit and provides USD loans to underserved market

Financial Services Transaction Brief: Prosus leads $15.7M investment in Egypt’s Thndr

Thndr’s platform serves over 4M users, expanding financial inclusion beyond urban centres

Financial Services Transaction Brief: Catalyst Partners’ completes Egypt’s first SPAC deal with $23M Qardy acquisition

Egypt’s first fintech SPAC deal unlocks new private capital in digital lending

Consumer Goods & Services Transaction Brief: Egyptian automotive company Sylndr raises $15.7M in Series A round led by DPI VC

Egypt’s top mobility platform integrates sales, financing, and servicing amid rising demand

Limited Partner Profile: Finnish Fund for Industrial Cooperation Limited

We provide the key information on the Finnish Fund for Industrial Cooperation Limited

Technology Transaction Brief: MaxAB-Wasoko acquires Egypt’s e-Commerce Platform, Fatura, from EFG Finance

Deal boosts fintech scale, adds 25K retailers, and expands Africa's B2B e-commerce footprint

Energy Transaction Brief: IFC provides $5M debt facility to Husk’s Nigerian subsidiary

IFC and Canada fund 108 mini-grids for 115,000 people and businesses in Northern Nigeria

Energy Transaction Brief: EDFI MC backs BURN with $5M to support Kenyan clean cooking solution expansion

IoT-Enabled Electric Cookers to Help Over 100,000 Kenyan Households Cut Fuel Costs by 40–60%

Agriculture Transaction Brief: Sahel Capital Invests $560K Working Capital in Ghana’s Mariseth Farms

Loan empowers 8,000+ farmers and strengthens West African agribusiness.

Energy Transaction Brief: Climate Fund Managers, Norfund back Konexa C&I solar project with $3.6M follow-on

Partnerships to scale solar infrastructure, cutting CO2 and boosting access

Limited Partner Profile: Mastercard Foundation Africa Growth Fund

We provide the key information on the Mastercard Foundation Africa Growth Fund (MFAGF)

Real Estate Transaction Brief: Egyptian Proptech Nawy raises $75M in debt and equity for North African expansion

Nawy scales its innovative real estate platform with new funding for regional growth

Consumer Goods & Services Transaction Brief: Ghanaian Battery-as-a-Service company Kofa closes $8.1 million Pre-Series A

Consumer Goods & Services Transaction Brief: Ghanaian Battery-as-a-Service company Kofa closes $8.1 million Pre-Series A

Consumer Goods Transaction Brief: Zambeef secures $32m AfDB guarantee to cover $25m Stanbic loan

Investment in Zambeef signals strong growth, but risks in Zambia’s economy remain

Energy Transaction Brief: BioLite acquires majority stake in Baobab+

BioLite’s acquisition boosts its presence in Senegal, Nigeria, and Madagascar’s renewable energy markets

Energy Transaction Brief: Elsewedy Electric acquires 60% stake in Thomassen Service

Elsewedy’s acquisition boosts gas turbine services in fast-growing African & MEA markets

Limited Partner Profile: Emerging Market Climate Action Fund

We provide the key information on the Emerging Market Climate Action Fund (EMCAF)

Financial Services Transaction Brief: Al Mada Ventures and DPI invest $13M in Egypt’s MoneyFellows

The Egyptian fintech expands to capitalise on informal savings culture in Morocco

Weekly Africa Macro Update: April 28-May 2, 2025

We analyse the latest policy pronouncements and economic indicators, providing the implications and near-term outlook for key African economies.

Financial Services Transaction Brief: C-One Ventures acquires Bankly Microfinance Bank in Nigeria

Bankly brings 2M users and 50k agents into C-One’s financial services portfolio

Financial Services Transaction Brief: Zeepay Ghana secures $18 million in Senior Secured Debt from Verdant IMAP

Verdant’s structure hints at bigger plays in innovative debt financing to African fintechs

May 2025 Africa Macro Outlook: South Africa, Egypt, Nigeria, Ghana, Kenya, Cameroon, Morocco, Senegal, DRC & Cote D'Ivoire

We analyse economic developments across ten African countries, providing the implications and outlook.

Consumer Goods Transaction Brief: Norfund leads its first investment into an African tech startup, Nigeria’s OmniRetail

OmniRetail’s scalable credit-led model, highlights growth and default risks for investors

Limited Partner Profile: European Bank for Reconstruction and Development

We provide the key information on EBRD

Healthcare Transaction Brief: Mediterrania Capital Partners sells its remaining 10.5% stake in Morocco’s Akdital

MCP’s exit signals evolving opportunities for investors targeting health infrastructure in North Africa

Weekly Africa Macro Update: April 21-25, 2025

We analyse the latest policy pronouncements and economic indicators, providing the implications and near-term outlook for key African economies.

Agriculture Transaction Brief: Robust Nigeria secures $25M loan from Blue Earth Capital and others for Nigerian Agro-processing

Private credit backs Africa’s move to local value addition, with ESG rewards and risks

Consumer Goods Transaction Brief: Mediterrania Capital Partners Exits Morocco’s Dislog Group

Morocco’s FMCG growth offer lessons for strategic capital

Consumer Goods Transaction Brief: South African retail giant SPAR secures $240M syndicated Loan from Investec, others

Spar’s restructuring highlights new entry points for Private Capital in African retail

Financial Services Transaction Brief: Fintech PayTic closes $4.4M Seed Extension to accelerate Africa expansion

PayTic’s funding reflects investor appetite for digital payment solutions in Africa

Limited Partner Profile: Blue Earth Capital

We provide the key information on Blue Earth Capital

Financial Services Transaction Brief: South African payments and Open Banking startup Stitch completes $55M Series B raise

Private capital flows into payments infrastructure signal both scale and saturation risk

Q1 2025 Private Capital in Africa Activity: Regional Dynamics

The Q1 2025 Stears Private Capital in Africa Report has been produced in partnership with the East Africa Venture Capital Association (EAVCA).

Energy Transaction Brief: Arnergy Raises $18M in a Series B Round led by CardinalStone, with participation from BII

Arnergy secures $18M to expand solar lease-to-own adoption in Nigeria

Q1 2025 Private Capital in Africa Activity: Sectoral Insights

The Q1 2025 Stears Private Capital in Africa Report has been produced in partnership with the East Africa Venture Capital Association (EAVCA).

Financial Services Transaction Brief: Kenyan Digital Bank Umba secures $5M Loan from Star Strong Capital to accelerate lending

Umba’s funding accelerates its digital banking growth in Africa, offering investment potential

Q1 2025 Private Capital in Africa Activity: East Africa Insights

The Q1 2025 Stears Private Capital in Africa Report has been produced in partnership with the East Africa Venture Capital Association (EAVCA).

Limited Partner Profile: The Swiss Investment Fund for Emerging Markets (SIFEM)

We provide the key information on SIFEM

Agriculture Transaction Brief: IFC Invests $12M to Boost Sierra Leone’s Onion Farming and Food Security

Strategic partnership to drive food security, job creation, and sustainable farming growth

Q1 2025 Private Capital in Africa Activity: Ticket Sizes, League Tables, and Exits

The Q1 2025 Stears Private Capital in Africa Report analyses African private market transactions for Q1 2025.

Financial Services Transaction Brief: Verdant Capital provides $4.5 million follow-on debt to LOLC Africa

Download data-driven insights on sector activity, investor moves, and regional momentum

Weekly Africa Macro Update: April 7-11, 2025

We analyse the latest policy pronouncements and economic indicators, providing the implications and near-term outlook for key African economies.

Other - 14 APR 2025

Q1 2025 Private Capital in Africa Activity Full Report

Q1 2025 Private Capital in Africa Activity Report

Healthcare Transaction Brief: Iwosan Investments Limited Acquires Multi-Specialist Hospital, Euracare Nigeria

Iwosan acquires Euracarea Nigeria to scale premium specialist and diagnostic care

Technology Transaction Brief: Pan-African Data Centre company, Raxio Group, secures $100M loan from IFC

Raxio to grow its African data centre portfolio with $100 million loan

Financial Services Transaction Brief: Peach Payments expands to West Africa with acquisition of PayDunya

Peach Payments expands into 6 key West African markets with PayDunya's acquisition

Limited Partner Profile: U.S. International Development Finance Corporation

We provide the key information on the U.S. International Development Finance Corporation.

Technology Transaction Brief: Taiwanese Semiconductor Company, MediaTek, Leads $10M Seed Investment into Egypt’s InfiniLink

Daily IM: Taiwanese Semiconductor Company, MediaTek, Leads $10M Seed for Egyptian Semiconductor Startup

Financial Services Transaction Brief: Janngo Capital Leads Djamo’s $17M Fundraise in Largest Ivorian Venture Round

Y Combinator-backed Djamo scales digital banking with 1M users and SME tools

Consumer Goods Transaction Brief: IFU and Coop Danmark Sell African Coffee Roasters to Slow Forest

Slow’s acquisition of ACR strengthens sustainable coffee value chains, enhancing growth in Africa’s coffee sector.

April 2025 Africa Macro Outlook: South Africa, Egypt, Nigeria, Ghana, Kenya, Cameroon, Morocco, Senegal, DRC & Cote D'Ivoire

We analyse economic developments across ten African countries, providing the implications and outlook.

Telecommunications Transaction Brief: TowerCo Bidco, an Actis-led Consortium Completes Acquisition of Telkom’s Tower Business, Swiftnet

Swiftnet acquisition to drive 5G expansion and rural connectivity

Financial Services Transaction Brief: Rivy Secures $4M Pre-Series A from All On and EchoVC

Rivy accelerates Nigeria’s clean energy transition with $4M funding

Limited Partner Profile: FSD Africa

We provide the key information on FSD Africa

Financial Services Transaction Brief: Renew Capital Invests in South African Payment Service Provider, NjiaPay

NjiaPay Boosts Payment Efficiency for African Merchants

Financial Services Transaction Brief: Algebra Ventures and Quona Capital Co-Lead a $6.75M Seed Round in Pan-African Payments Platform, enza

enza partners with Algebra Ventures and Quona Capital to drive financial inclusion across Africa

Healthcare Transaction Brief: Beltone Venture and Raed Ventures Back Grinta’s Acquisition of City Clinic in Egypt

Grinta partners with Beltone and Raed Ventures to scale healthcare services across Egypt and East Africa

Limited Partner Profile: Norfund

We provide the key information on Norfund

Energy & Utility Transaction Brief: Norfund, Standard Bank Invests $75M in South African Electricity Trader, Etana Energy

Norfund and Standard Bank back South African energy trader’s first solar project as offtaker

Financial Services Transaction Brief: Alitheia Capital and Goodwell Investments Exit Baobab Nigeria to Parent Company

PE Investors Triple Naira Returns Backing Nigeria’s MFI Growth

Consumer Goods Transaction Brief: Nigerian Breweries Purchases 20% Stake to Secure Full Ownership of DWSN

Brewer Expands Portfolio as Consumer Alcohol Demand Evolves

Industrials Transaction Brief: Kenyan Logistics Platform Leta Receives $5m Seed Funding from Google, Speedinvest and Equator

$5M in seed funding boosts Leta’s logistics platform in East Africa

Energy Transaction Brief: FMO-backed CFM invests $3.1M in 30MW Waste-to-Energy Project in Sierra Leone

Energy Transaction Brief: FMO-backed CFM invests $3.1M in 30MW Waste-to-Energy Project in Sierra Leone

Limited Partner Profile: Swedfund

We provide the key information on Swedfund

Agriculture Transaction Brief: AgDevCo Sells Majority Stake in Zambia’s SFEL to Buya Bamba

Buya Bamba acquires Saise, boosting Zambia’s seed potato production

Technology Transaction Brief: Egyptian AI Startup WideBot Closes $3M Pre-Series A Round

Widebot to boost Arabic AI capabilities with fresh funding

Consumer Goods Transaction Brief: IFC Provides $30M Loan to DPI-backed North African Retail Giant, Kazyon Group

Retail giant Kazyon to create 3,000 jobs and boost food access in Morocco

Private Capital in Africa 2025: DRC’s Investment Trends & Outlook

The Stears Africa Private Capital Outlook 2025 analyses macroeconomic trends and investment dynamics.

Private Capital in Africa 2025: Côte d'Ivoire’s Investment Trends & Outlook

The Stears Africa Private Capital Outlook 2025 analyses macroeconomic trends and investment dynamics

Technology Transaction Brief: Vumatel Completes the Full Acquisition of South African Fibre Company, Herotel

Regulator greenlights conditional full takeover

Industrials Transaction Brief: Everlectric Secures Funding from Edge Growth through FNB-backed Vumela Fund

New venture debt supports fleet electrification for logistics

Fund Profile: Apis Growth Fund II

We provide the key information on the Apis Growth Fund II

Energy Transaction Brief: Nedbank and Norfund invest $31 million in South Africa’s Pele Energy Group

Investment blends Pele’s financing with equity after loan facility in 2023

Energy Transaction Brief: CrossBoundary Energy secures $45m Senior Debt from EAAIF

Private infra lender fuels energy security for African industries

Private Capital in Africa 2025: Cameroon’s Investment Trends & Outlook

The Stears Africa Private Capital Outlook 2025 analyses macroeconomic trends and investment dynamics, offering investors insights into Africa’s privat

Consumer Services Transaction Brief: Alterra Capital Partners acquires majority stake in one of East Africa’s largest travel firms

Carlyle-backed PE firm sees tech-driven growth in Africa’s tourism

Energy Transaction Brief: InfraCo and EDFI support Zambian clean cooking solution with €4 million investment

InfraCo’s funding expands biomass-based clean cooking and IoT stoves in Zambia

Technology Transaction Brief: Finnfund increases stake in South African Internet Provider

Finnfund doubles down as Fibertime scales pay-as-you-go fibre to underserved South African homes

Fund Profile: LeapFrog Emerging Consumer Fund III

We provide the key information on the LeapFrog Emerging Consumer Fund III

Private Capital in Africa 2025: Kenya’s Investment Trends & Outlook

The Stears Africa Private Capital Outlook 2025 analyses macroeconomic trends and investment dynamics, offering investors insights into Africa’s privat

Energy Transaction Brief: British International Investment Strengthens Backing for Kenya’s SunCulture with $4 Million Funding

British International Investment doubles down on SunCulture, scaling carbon-financed solar irrigation for 16,000+ Kenyan farmers.

Private Capital in Africa 2025: Nigeria’s Investment Trends & Outlook

The Stears Africa Private Capital Outlook 2025 analyses macroeconomic trends and investment dynamics, offering investors insights into Africa’s privat

Financial Services Transaction Brief: Ghanaian AI-lending Platform Oze Closes Funding from Visa, DEG, Others

Visa, DEG, and AfricInvest back Oze’s push to expand no-collateral SME loans via AI-powered credit tech

Private Capital in Africa 2025: Morocco’s Investment Trends & Outlook

The Stears Africa Private Capital Outlook 2025 analyses macroeconomic trends and investment dynamics, offering investors insights into Africa’s priva

Financial Services Transaction Brief: Francophone West Africa super app Gozem closes $30m Series B

Backed by MSC Group and Al Mada, Gozem scales fintech offerings and mobility asset financing

Private Capital in Africa 2025: Senegal's Investment Trends & Outlook

The Stears Africa Private Capital Outlook 2025 analyses macroeconomic trends and investment dynamics, offering investors insights into Africa’s privat

Agriculture Transaction Brief: Clearwater Capital purchases South Africa’s SnoLink Logistics in a distress sale

Etlin International sells SnoLink to South African private equity managers, Clearwater Capital

Private Capital in Africa 2025: South Africa’s Investment Trends & Outlook

The Stears Africa Private Capital Outlook 2025 analyses macroeconomic trends and investment dynamics, offering investors insights into Africa’s privat

Real Estate Transaction Brief: REdimension Capital invests in South Africa’s Rode Publications

REdimensions makes a strategic move towards a data-driven real estate intelligence platform.

Fund Profile: Helios CLEAR Fund

We provide the key information on the Helios Clear Fund

Private Capital in Africa 2025: Ghana’s Investment Trends & Outlook

The Stears Africa Private Capital Outlook 2025 analyses macroeconomic trends and investment dynamics, offering investors insights into Africa’s privat

Financial Services Transaction Brief: Old Mutual acquires 30% stake in Fairheads from Vunani for $3.8M

Vunani Announces Sale of 30% Stake to Old Mutual

Agriculture Transaction Brief: Acumen backs Ghanaian agri-tech platform Wami Agro with $2m

Acumen made a $2 million investment in Ghanaian agri-tech platform Wami Agro to expand its West African operations

Energy Transaction Brief: InfraCo Africa sells 25% stake in Malawi’s Golomoti Solar to Old Mutual Malawi

InfraCo Africa exits Golomoti Solar and sells 25% stake to Old Mutual Malawi

Agriculture Transaction Brief: BII invests $40.5M in Nigeria’s Johnvents Group

Johnvents secures $40.5M loan facility from BII to expand cocoa production

Industrials Transaction Brief: Mohinani Group secures a $37M loan from IFC

IFC backs Mohinani’s construction of two PET recycling plants with a $37M loan

Fund Profile: Amethis Fund III

We provide the key information on the Amethis Fund III

Technology Transaction Brief: Meridiam invests in South Africa’s Ilitha

Meridiam backs Ilitha to expand broadband to 500K homes

Energy Transaction Brief: UEG acquires 100% stake in Apex International Energy for $150M

Bluewater sells Apex International Energy to United Energy

Technology Transaction Brief: Futuregrowth invests $3M in South Africa’s CubeSpace

Futuregrowth leads a $3M funding round for CubeSpace's expansion

Financial Services Transaction Brief: Apis, Abler Nordic, AXA IM Alts exits Baobab Group to Beltone Capital

Beltone Capital acquires majority share in Baobab after signing Share Purchase Agreement with Apis, Abler Nordic, AXA IM Alts

Consumer Goods Transaction Brief: Adiwale Partners invests in Togo’s Jus Délice

Adiwale Partners invests in West African pineapple juice leader

Fund Profile: LeapFrog Emerging Consumer Fund IV

We provide the key information on the LeapFrog Emerging Consumer Fund IV

Consumer Goods Transaction Brief: Amethis exits Mozambique’s Merec Industries to Invictus

Amethis exits Merec Industries after 6 years and sells to Invictus

Consumer Goods Transaction Brief: Kenya’s Royal Garments Group secures $20M from IFC, Canadian Government

IFC invests $20M in Kenya’s Royal Garments Group

Consumer Goods Transaction Brief: Amethis acquires 56% stake in Egypt’s Kazareen Textile Group

Amethis acquires majority stake in Kazareen Textile Group

Technology Transaction Brief: Infinite Partners and PIC acquire South Africa’s Net Nine-Nine, Evotel, and LinkLayer

Infinite Partners and PIC consolidate three fibre network operators under Fibre Holdco

Agriculture Transaction Brief: Guan Chong acquires 25% stake in Côte d'Ivoire’s Transcao CI for $28.9M

Guan Chong acquires 25% stake in Ivorian cocoa manufacturer Transcao CI

Fund Profile: AfricInvest Transform Health Fund

We provide the key information on the AfricInvest Transform Health Fund

Financial Services Transaction Brief: South Africa’s UsPlus secures $2M mezzanine investment from Verdant Capital

Verdant Capital invests $2M in UsPlus to expand SME financing.

Healthcare Transaction Brief: Saviu Ventures sells its 22% stake in Lapaire Glasses to Creadev

Saviu Ventures Exits Lapaire with Strong Returns as Creadev Acquires Stake

Agriculture Transaction Brief: BII raises equity stake in Valency International with $15M

Agriculture Transaction Brief: BII raises equity stake in Valency International with $15M

Energy Transaction Brief: IFU invests $15 million in PowerGen

Energy Transaction Brief: IFU invests $15 million in PowerGen

Consumer Goods Transaction Brief: EBRD invests $25 million in Morroco’s Dislog Group

Consumer Goods Transaction Brief: EBRD invests $25 million in Morroco’s Dislog Group

Fund Profile: Sanari Capital 3S Growth Fund

Fund Factsheet: Sanari Capital 3S Growth Fund

Consumer Goods Transaction Brief: Alterra, Phatisa, acquire 100% stake in Kenya’s Java House from Actis

Alterra Capital signs agreement to purchase a majority stake in Kenya’s Java House

2024 Private Capital in Africa Activity Report

2024 Private Capital in Africa Activity Report

Consumer Services Transaction Brief: Africa Capitalworks, Adiwale invests $24M in Enko Education

Enko Education secures $24M to expand its African school network

Financial Transaction Brief: BlueOrchard leads $38M Series B extension for South Africa’s Naked Financial

Naked secures $38M Series B2 led by BlueOrchard to boost insurtech growth

Technology Transaction Brief: Helios leads $9M Series A extension for SeamlessHR

Helios Digital Ventures and the Gates Foundation invest $9 million in SeamlessHR's Series A extension

Healthcare Transaction Brief: Pharma Capital secures significant stake in Morocco’s Afric Phar

Pharma Capital acquires stake in Moroccan pharma group Afric Phar

Energy Transaction Brief: Suez Wind secures $30 million loan from OPEC Fund

OPEC Fund commits $30M to Africa’s largest onshore wind project

Financial Services Transaction Brief: Inua Capital invests in Flow Uganda

Inua Capital backs Flow Uganda to expand financial inclusion impact

Consumer Goods Transaction Brief: DOB Equity invests in Uganda’s SPOUTS International

DOB Equity invests in Spouts, scaling eco-friendly clean water solutions

Financial Services Transaction Brief: Highland Europe leads LemFi’s $53M Series B round

LemFi raises $53M Series B funding from Highland Europe, Left Lane Capital, Palm Drive Capital, Y Combinator, and Endeavor Catalyst

Healthcare Transaction Brief: Kenya’s Ilara Health secures $1M loan from DFC

DFC backs Ilara Health with $1M loan

Financial Services Transaction Brief: Access Bank Plc acquires 100% equity in South Africa’s Bidvest Bank

Acquisition of PIC-backed Bidvest Bank expands Access Bank’s South African operations

Financial Services Transaction Brief: Renew Capital invests in Kenya’s Power Financial Wellness, Inc.

Power secures investment from Renew Capital

Agriculture Transaction Brief: DPI-backed Solevo secures $20m bond investment from DFC

DFC invests $20m bond in Solevo Group

Other - 08 JAN 2025

Technology Transaction Brief: Cassava secures $90m equity funding from Google, DFC, Finnfund

Google LLC, DFC and Finnfund invest $90m in Cassava Technologies

Other - 07 JAN 2025

Energy Transaction Brief: EAAIF invests $29m in PFO Energies solar plant in Côte d’Ivoire

EAAIF, managed by Ninety One, invests €28M ($29M) in Côte d’Ivoire 52 MW solar plant

Energy Transaction Brief: ACA-backed Aradel acquires 5.14% stake in Chappal Energies

Aradel Holdings buys 5.14% stake in Chappal Energies Mauritius Limited

Energy Transaction Brief: MCB backs Nigeria’s Chappal Energies’ $1.2B Equinor acquisition with $120M

MCB backs Chappal Energies’ $1.2B Equinor acquisition with $120M

Other - 02 JAN 2025

Agriculture Transaction Brief: Nigeria’s Tantalizers Plc signs MOU to acquire DanBethel

Tantalizers Plc signs MoU to acquire fish trawling company DanBethel

Other - 31 DEC 2024

Financial Services Transaction Brief: IDH Fund, AgriFi, and Abler Nordic invest $6.3M in Zambia’s Agora Microfinance

AgriFI, Abler Nordic, and IDH Fund invest $6.26M in Zambia’s AMZ

Energy Transaction Brief: South Sudan’s CREI secures $20M loan from Finnfund, Cygnum Capital

Cygnum, Finnfund, CREI provide $20M loan to power sustainable telecom energy in South Sudan

Energy Transaction Brief: Namibia’s Hyphen Hydrogen Energy completes 24% equity sale to government-backed fund

CFM joint-venture acquires a 24% stake in Namibia’s largest green hydrogen project

Other - 24 DEC 2024

Industrials Transaction Brief: Pan-African e-logistics firm Bisedge secures mezzanine debt from GCPF

GCPF invests in Bisedge to drive electric logistics growth

Financial Services Transaction Brief: Futuregrowth backs South Africa’s Sourcefin with $8.4M investment

Futuregrowth invests R150M ($8.4M) in Sourcefin to boost SME funding

Agriculture Transaction Brief: DPI sells 13% stake in Morocco’s CMGP Group in $110 million IPO

CMGP Group raises $110m in IPO

Financial Services Transaction Brief: Nu Holdings leads South Africa’s Tyme Group $250m Series D at $1.5bn valuation

Nubank leads Tyme's $250m Series D, valuing it at $1.5 billion

Energy Transaction Brief: EAAIF provides $18m financing for AMEA Power 20MW Solar Project in Uganda

EAAIF invests $18m in West Nile’s first utility-scale solar

Other - 04 JAN 2024

Stears 2024 Outlook

Stears’ 2024 Outlook is an indispensable guide for investors, pinpointing trends and themes that will shape Africa’s economic landscape in 2024

Stears Methodology Note: Inflation Forecast

The Pan-African inflation forecast model employs a VAR framework, pivotal for understanding indicator interactions across African nations.

Adopting export-led growth as a game-changer for Nigeria's economy

How Nigeria can export its way to economic superpower status.

Another MPR hike 📈

Here's what you need to know about the economy in 150 seconds.

Governance - 26 FEB 2023

Nigeria 2023 Elections Live Results

Nigeria 2023 Elections Live Results

Update: Analysing the PDP, APC and LP manifestos

Atiku's manifesto for 2023 is compared with the All Progressive Congress (APC) and Labour parties' economic plans for Nigeria.

7 economic events that defined the year 2022

What's the economic story of Nigeria in 2022?

Other - 21 DEC 2022

The 10 must-read Stears articles of 2022

Some of Stears’ best work on Nigeria’s economy, the upcoming 2023 elections, and more.

Assessing Peter Obi's manifesto plans

We analyse the LP’s plans and score the manifestos based on relevance, implementation and novelty.

Buhari’s scorecard: Any hits or all misses?

Nigeria's president has struggled with implementing many of his creative and solution-oriented promises.

Four key themes about Nigeria’s economy

The Nigerian economy has gone through some significant transformations over the years, we look at a few highlights

Other - 19 OCT 2021

Q3 2021: Top most-read Stears Business stories

In the last three months, we've published over 60 stories. Here are ten of our most-read pieces.

Other - 04 SEP 2021

Top banking articles on Stears Business

What's going on in Nigeria's banking industry?

Other - 28 AUG 2021

Top e-commerce articles on Stears Business

Top e-commerce articles

Other - 20 AUG 2021

Top telecommunication articles on Stears Business

A compilation of our telecoms pieces.

Other - 13 AUG 2021

Get a Stears Premium Corporate Subscription

Unveiling Stears Business Premium team discounts!

Other - 13 AUG 2021

Top healthcare articles on Stears Business

A solid view of what's happening in Nigeria's healthcare industry.

Other - 06 AUG 2021

Top travel and tourism articles on Stears Business

Ten Stears Business stories that deeply analyses the tourism and air travel sector.

Other - 30 JUL 2021

Top investment articles on Stears Business

A curated list on everything "investment" at Stears Business

Other - 24 JUL 2021

Top education articles on Stears Business

Ten articles to brighten your perspective on Education in Nigeria.

Other - 17 JUL 2021

Top agriculture articles on Stears Business

A curation of our agriculture stories

Other - 09 JUL 2021

Q2 2021: Top most-read Stears Business stories

Top ten stories for Q2'2021.

Other - 03 JUL 2021

Top infrastructure articles on Stears Business

A look into infrastructural development in Nigeria

Other - 25 JUN 2021

Top creative industry articles on Stears Business

A selection of some of our stellar pieces from fashion, film, music and movies.

Other - 19 JUN 2021

Top trade articles on Stears Business

A selection of articles on international trade in Nigeria.

Other - 12 JUN 2021

Top State articles on Stears Business

Top State articles on Stears Business

Other - 28 MAY 2021

Top energy articles on Stears Business

A list of our favourite articles on the energy sector

Other - 21 MAY 2021

Top cryptocurrency articles on Stears Business

Editor's picks on all things #crypto

Other - 15 MAY 2021

Top startup articles on Stears Business

Editor's pick of startup articles

Other - 08 MAY 2021

Top logistics articles on Stears Business

Best stories on the logistics sector in Nigeria.

Other - 01 MAY 2021

Top labour articles on Stears Business

Best stories on employment and labour in Nigeria.

Other - 23 APR 2021

The best articles on the Central Bank of Nigeria

Stears Business' curated articles on the CBN.

Other - 16 APR 2021

Q1 2021: Top most-read Stears Business stories

Top ten stories for Q1'2021.

Economy - 20 FEB 2021

GDP 2020: Nigeria's shocking recession exit

An analysis on how Nigeria exited its short 2020 recession.

Finance - 06 FEB 2021

Cryptocurrency: How the CBN restriction cuts off exchanges

What the CBN circular on cryptocurrency means and why it was issued.

Other - 31 DEC 2020

Our top ten stories of 2020

Stears Business most popular 2020 articles.

Other - 28 DEC 2020

How Stears Business' journalists produced their top 2020 articles

Get to know the Stears Business Newsroom

Other - 04 JUL 2020

Stears Business' top ten in June

A selection of Stears' most read articles published in June 2020

Stears Business Newsletter: 60 facts about road and air transport in Nigeria

As the economy reopens, we commemorate the return of road and air travel with 60 statistics

Other - 06 JUN 2020

Tell us what you think

Stears Business reader survey

Stears Business Newsletter: When and what to reopen in Nigeria

A stears breakdown of how to reopen the economy

Economy - 26 MAY 2020

Top 10 trending Stears Business articles

Most-read Stears Business articles in the last month

Economy - 25 MAY 2020

NCDC stories from three Nigerian states

We travel to three states to tell different stories and insights related to COVID-19

6 numbers that explain this pandemic

A breakdown on what the coronavirus pandemic means for Nigeria's economy in 6 numbers

Economy - 26 MAR 2020

Nigeria's economic response to COVID-19

How is Nigeria responding to protect its economy during the coronavirus pandemic