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A MESSAGE FROM OUR SUPPORTERS
PwC Deals supports Norfund on its investment into Nafasi Water Technologies
Norfund has completed a R160 million (about $10 million) investment in Nafasi Water Technologies, alongside E Squared Investments, to strengthen water security across South Africa and accelerate growth in critical water infrastructure and reuse solutions. PwC provided financial and tax due diligence on the transaction. Read more
Here are summaries of the five most widely read stories the past week on Africa Private Equity News.
1. Sango Capital closes $120m secondary transaction
Sango Capital has acquired more than $120 million in NAV in four African funds from an institutional investor rebalancing its global portfolio. Sango funded the deal with its own capital and raised additional capital from a diverse group of commercial investors, including first-time Africa allocators.
The acquired portfolio spans financial services, consumer/FMCG, infrastructure, and light manufacturing, with physical presence in over 14 African markets. Read the full article
2. IFC discloses proposed $25m investment in Admaius’ Virunga Africa Fund II
The International Finance Corporation (IFC) has disclosed a proposed investment of up to $25 million in Virunga Africa Fund II, a growth equity fund managed by Admaius Capital Partners. IFC has also proposed a co-investment envelope of up to $10 million.
Virunga Africa Fund II is targeting $500 million to invest in mid- to large-cap African companies. The fund is expected to build a portfolio of 10 to 12 companies, with target ticket sizes of $15 million-$50 million. It will have a preference for majority ownership, while also considering significant minority stakes where there is strong alignment. Read the full article
3. AfricInvest leads growth round in BFREE
AfricInvest, through its Financial Inclusion Vehicle (FIVE), has led an investment round in BFREE, a pan-African investor in distressed retail and SME loans. Algebra Ventures joined as a new institutional investor, alongside existing investors Capria Ventures, VestedWorld, Axian CVC, Angaza Capital, 4Di Capital, DotExe Ventures, and other strategic individual investors.
BFREE started as a technology-led and data-driven collection servicer and has developed over time into an institutional-grade portfolio purchaser, acquiring and servicing distressed unsecured credit across the full spectrum from nano loans to SME facilities. Read the full article
4. DPI promotes Richard Bennett to partner
Development Partners International (DPI), a London-headquartered private equity firm investing in high-growth businesses across Africa, has promoted Richard Bennett to partner.
Since joining as chief operating officer in 2024, Bennett has been instrumental in helping to build an institutional-grade operating platform that positions DPI for its next chapter of growth. Read the full article
5. Namibia: Appian acquires copper project
Appian Capital Advisory – the investment advisor to private capital funds investing in metals, mining, and adjacent industries – has acquired a 95% controlling equity interest in the Omitiomire copper project in Namibia.
The acquisition positions Appian to unlock an undeveloped copper deposit with the potential to produce about 30,000 tonnes of copper per year over an around 15-year mine life. Bringing the project into production is expected to require more than $400 million in development capital. Read the full article
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Dealmaker’s Log: African private equity and VC deals in April 2026
Africa Private Equity News recently published the April 2026 issue of our Dealmaker’s Log, which tracks the reported African private equity/debt and venture capital transactions from last month (and extending back to an archive of transactions since May 2023). Access the Dealmaker’s Log here
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In-depth interview: Where Sango Capital sees opportunity in Africa
Africa-focused investor Richard Okello compares investing on the continent to riding a speedboat through rough seas while trying to drink a glass of wine without spilling a drop. The job is to get from point A to point B with the liquid intact.
In 2011, Okello established Sango Capital, which now manages just under $1 billion. Africa Private Equity News editor-in-chief Jaco Maritz spoke to him about the realities of putting capital to work on the continent. Watch/read the interview here
