Pan-African investment bank and investment manager completed 18 transactions in 2023 and received accolades from the prestigious Africa Global Funds awards.
The firm won Best Independent Advisory Firm – pan-Africa and Best Advisory Firm to Private Equity.
In 2023, Verdant Capital (https://Verdant-Cap.com/) further emphasised the strength of the pan-African franchise, completing five transactions in South Africa, two in other SADC countries, eight in East Africa and three in West Africa. Eleven of the transactions were for private equity investors or portfolio companies of private equity.
Verdant Capital, a successful investment bank operating since 2013, in 2021 established an investment management division and completed the first closing of its flagship fund, Verdant Capital Hybrid Fund. The fund is a pan-African fund investing mezzanine capital into in the financial services sector. In 2023 Verdant Capital completed five investments from its investment management operation, three from Verdant Capital Hybrid Fund, and two from other structures.
These investments included investments in LOLC Africa, the African operation of leading Asian microfinance group LOLC Africa, and in Mogo Kenya, a leading taxi and mobility financing operation. Verdant Capital Hybrid Fund is now three-quarters deployed versus its commitments at first closing. Verdant Capital expects the final close in 2024.
In terms of Mergers and acquisitions (M&A), the firm completed eight transactions in 2023. Landmark transactions included the sale of Unguka Bank in Rwanda, and advising on an acquisition in South Africa for Saint Gobain, the Paris-headquartered group ranking in the top 100 of industrial companies in the World. Verdant Capital also advised five clients on debt and equity capital raisings, including leading African digital payments business, Zeepay.
2023 further reinforced Verdant Capital’s domain expertise in the financial services sector, with 12 completed transactions across segments including leasing, invoice discounting, purchase order financing, micro-lending, payments and remittances. Verdant Capital also completed deals in other sectors in which it is traditionally strong, including the telecoms, digital infrastructure, agri-business and industrials sectors.
