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 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

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: Pan-African 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