Atta Financial Update

Executive summary for the week of 31-Jan-17 to 07-Feb-17 (week 6)
Cape Town: SA's e-commerce hub.

Although South Africa may attribute a small proportion of total retail sales to e-commerce, the industry is growing quickly and Cape Town can increasingly lay claim to being the e-commerce hub of the country.

Factors that underpinned Cape Town’s attractiveness to e-commerce companies included an appealing lifestyle; an extensive network of supporting companies and institutions, including payment gateways, software developers, and tech incubators; a strong supply of ICT skills among the workforce; and better availability of venture capital than in other areas of the country.

As such, 75 percent of all venture capital deals last year had their HQ in the Western Cape and Cape Town-based companies accounted for all 10 of the most visited e-commerce websites.

Fact: The world’s highest producing gold mine, is in fact a copper mine. The Grasberg Mine.

African Private Equity News (PE)
African focused private equity funds

African Infrastructure to take 60% stake in DSM Tanzania

  • African Infrastructure Investment Managers is taking a 60% stake in DSM Corridor Group Tanzania
  • DSM Corridor Group Tanzania, a specialist dry bulk terminal operator based in the Port of Dar es Salaam
  • Terms of the transaction are not yet available

Africa Finance Corporation to back Alufer Mining in a deal valued at US$205 million

  • Africa Finance Corporation is part of a consortium of investors looking to back Alufer Mining
  • Other members of the consortium include Orion Mine Finance and Resource Capital Funds
  • The capital will be used to fund the development of Guinea-Conakry’s bauxite mines
  • The company has declared there to be more than 3 billion tonnes of minerals at both projects and expect to produce 5.5 metric tonnes of bauxite from Bel Air per year within the next two years

Cytonn Investments to take 25% of Superior Homes

  • Cytonn Investments, a Nairobi-headquartered investment firm, is taking a 25% stake in real estate developer Superior Homes
  • The transaction values Superior Homes at KShs 1 billion (US$9.5 million)
  • Superior Homes has a strong track record of delivering gated communities in Kenya


BitPesa, the pan-African bitcoin payments startup, has closed a US$2.5 million Series A

  • The group includes several high-profile venture investors led by Draper VC, Tim Draper’s Silicon Valley firm
  • Other members of the consortium include Greycroft Partners
  • Having launched in 2013, the company has now raisedUS$6 million - executing more than 34,000 transactions for individual and business customers who send and receive payments through BitPesa’s integration with over 30 currencies


Arise was officially launched in Cape Town

  • Arise, a $660 million private equity investment company, the new company was officially launched in Cape Town last week
  • FMO, Norfund and Rabobank are backing the company with their stakes in financial services companies in 10 countries on the continent
  • The new strategy is to use the new platform as a launch pad to take minority stakes in additional companies in the sector and eventually expand the new company’s asset base to more than US$1 billion in size

Southern African economic news (SADC)
AO, BW, LS, MW, MZ, SZ, ZM, ZW, [-TZ]

EXEO Capital held a first close for the second Agri-Vie fund

  • EXEO Capital, the partnership between South African private equity firm Agri-Vie and STANLIB
  • Agri-Vie II will target opportunities in mid to lower mid cap food and agribusinesses, with a focus on those firms that add value in the food and agribusiness supply chain as well as those who product the inputs used by commercial agriculture