Review of Week of 26 October 2026

Private capital flows across African markets this week demonstrated robust activity led by landmark aviation buyouts, oversubscribed regional growth equity funds, and cross-border expansion in insurance and climate infrastructure. Competition Tribunal of South Africa approved Harith’s strategic acquisition of airline FlySafair, while Egyptian growth platforms secured substantial development finance commitments, highlighted by European Investment Bank (EIB) Global’s $37.5M ticket into the $130M Tanmiya Capital Ventures (TCV) Fund II.

Meanwhile, strategic debt financing and impact equity scaled rapidly across climate-tech, agricultural processing, and specialized healthcare, anchored by Admaius Capital Partners’s $40M commitment to Moroccan healthtech ABA Life, Proparco’s dual facility deployments in Nigeria and Guinea, and British International Investment’s $7M debt package for Okra Solar.

01. Harith Obtains Regulatory Clearance to Acquire FlySafair

South Africa’s Competition Tribunal approved private equity firm Harith General Partners’ acquisition of a controlling stake in low-cost carrier FlySafair. The transaction positions Harith to integrate FlySafair into its broader regional transport and infrastructure investment portfolio, supporting commercial aviation expansion across Southern Africa.

Target: FlySafair

Amount: Undisclosed

Type: Strategic Buyout / Control Acquisition

Acquirer / Investors: Harith

Sector: Aviation & Transport Infrastructure

Country / Region: South Africa / Southern Africa

02. EIB Global Commits $37.5M as Tanmiya Capital Fund II Closes at $130M

EIB Global committed $37.5 million to Tanmiya Capital Fund II as the Egyptian growth equity vehicle reached an oversubscribed final close of $130 million. Managed by Tanmiya Capital Ventures, the fund targets mid-market manufacturing, export-oriented agribusiness, and consumer-facing enterprises across North Africa.

Target: Tanmiya Capital Ventures (TCV) Fund II

Amount: $37.5 Million Commitment ($130 Million Fund Close)

Type: Private Equity LP Fund Commitment

Acquirer / Investors: EIB Global | BEI Monde & Institutional LPs

Sector: Private Equity / Mid-Market Growth

Country / Region: Egypt / North Africa

03. Admaius Capital Commits $40M to Moroccan HealthTech ABA Life

Pan-African private capital manager Admaius Capital Partners committed $40 million to back Moroccan healthcare and healthtech platform ABA Life. The growth investment will expand ABA Life’s diagnostic footprint, specialty clinic network, and digital healthcare delivery channels across Francophone West and North Africa.

Target: ABA Life

Amount: $40 Million

Type: Direct Growth Equity Investment

Acquirer / Investors: Admaius Capital Partners

Sector: Healthcare & Healthtech

Country / Region: Morocco / North Africa

04. Proparco Deploys $30M Senior Credit Facility to Sterling Bank

French development finance institution Proparco executed a $30 million senior debt agreement with Nigeria’s Sterling Bank. The facility is structured to expand access to long-term credit for local small and medium-sized enterprises (SMEs), prioritizing women-owned businesses and climate-resilient commercial projects.

Target: Sterling Bank SME Financing Program

Amount: $30 Million

Type: Senior Debt Facility

Acquirer / Investors: Proparco

Sector: Banking & SME Finance

Country / Region: Nigeria / West Africa

05. DPI Venture Capital Closes Nclude Fund Above $112M

Development Partners International (DPI) Venture Capital completed the final close of its fintech and digital inclusion vehicle, Nclude Fund, at over $112 million, exceeding its original target. Capitalized with 93% African institutional capital, the fund will accelerate growth-stage investments in market-leading financial software and digital economy infrastructure.

Target: Nclude Fund

Amount: $112 Million+

Type: Venture Capital Fund Close

Acquirer / Investors: DPI Venture Capital & African Institutional LPs

Sector: Venture Capital / Fintech & Digital

Country / Region: Regional Africa (Egypt Focus)

06. British International Investment Directs $7M Debt to Okra Solar

UK development finance institution British International Investment (BII) provided a $7 million debt facility to microgrid developer Okra Solar. The financing will fund the deployment of mesh-grid solar technologies to electrify off-grid rural communities and small commercial hubs across Sub-Saharan Africa.

Target: Okra Solar

Amount: $7.0 Million

Type: Senior Debt Facility

Acquirer / Investors: British International Investment (BII)

Sector: Renewable Energy & Off-Grid Solar

Country / Region: Regional Sub-Saharan Africa

07. Madica Secures $6M Extension to Scale African Startup Investments

Pre-seed venture platform Madica secured a $6 million capital extension from Flourish Ventures to expand its investment scope to up to 30 early-stage African tech startups. Madica provides catalytic capital, structured executive mentorship,and corporate governance support to underrepresented founders across emerging tech ecosystems.

Target: Madica Program Capital Pool

Amount: $6.0 Million

Type: Venture Platform Capital Extension

Acquirer / Investors: Flourish Ventures

Sector: Venture Capital / Early-Stage Tech

Country / Region: Regional Africa

08. APA Apollo Enters Tanzania via Dual 66.7% Stake Acquisitions

Kenya-based APA Apollo Group entered the Tanzanian insurance market by acquiring controlling 66.7% equity stakes in Meticulous General Insurance Company Limited and Metro Life Assurance. The cross-border acquisitions expand APA Apollo's regional underwriting capabilities across commercial non-life, health, and life insurance markets in East Africa.

Target: Meticulous General Insurance Company Limited & Metro Life Assurance (66.7% Stakes)

Amount: Undisclosed

Type: Cross-Border Strategic M&A

Acquirer / Investors: APA Apollo Group

Sector: Insurance & Financial Services

Country / Region: Tanzania / East Africa

09. Bezant Resources Secures £4M Debt for Hope & Gorob Copper Expansion

Namibian mining operator Bezant Resources Plc secured a £4 million ($5.2 million) debt facility to fund expansion works at its Hope & Gorob copper-gold project. The capital deployment will finance near-surface resource drilling, feasibility study completion, and site infrastructure development.

Target: Hope & Gorob Copper-Gold Project

Amount: £4.0 Million (~$5.2 Million)

Type: Project Debt Facility

Acquirer / Investors: Mining Debt Capital Syndicate

Sector: Mining & Critical Metals

Country / Region: Namibia / Southern Africa

10. Proparco Injects €5M Senior Loan into Guinean Dairy SOGUIPAL

Proparco signed a €5 million ($5.4 million) senior debt facility with Guinean dairy processor SOGUIPAL. The long-term loan will finance the construction of modern processing facilities, local milk collection infrastructure, and cold-chain distribution networks to accelerate import substitution across West Africa.

Target: SOGUIPAL (Société Guinéenne de Produits Alimentaires)

Amount: $5.4 Million (€5.0 Million)

Type: Senior Debt Facility

Acquirer / Investors: Proparco

Sector: Agri-Processing & Industrial Manufacturing

Country / Region: Guinea / West Africa

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