Helios to Buy Up to 49% of Merec as Africa PE Deals Stack Up

Helios Investment Partners has agreed to acquire up to 49% of Merec Industries, Mozambique's largest flour milling company, through Helios Fund V. The seller, Invictus Investment, which bought Merec in January 2025, stays on as majority shareholder. The deal topped the most-read stories of the past week on Africa Private Equity News, and it wasn't alone: five transactions and staffing moves defined the week for African private capital.

What did the European Investment Bank propose?

The European Investment Bank disclosed a proposed $85 million (€76 million) investment in Virunga Africa Fund II, a $500 million pan-African private equity fund managed by Admaius Capital Partners. The fund targets mid-sized companies, and half of its capital is expected to go to North Africa, according to the EIB disclosure. An EIB commitment at that scale would anchor one of the larger pan-African vehicles currently in the market.

How much did Kuunda raise, and who bought in?

South African digital lending technology company Kuunda completed a $5 million secondary share sale led by existing shareholder E4E Africa. Accion Ventures, Portugal Gateway Fund and Seedstars Africa Ventures also increased their stakes in the round, Africa Private Equity News reported. The transaction is a secondary sale, meaning existing shares changed hands rather than new capital entering the company's balance sheet.

Where is Fortis Green putting money to work?

Fortis Green Renewables Investment Management and Zeitinger Invest made a growth equity investment in GRIPS Energy Group, a developer of commercial and industrial solar and battery storage projects. The funding will finance the acquisition of operational renewable energy assets in four markets:

• Senegal
• Botswana
• Zambia
• Uganda

Buying operational assets, rather than developing projects from scratch, shortens the path to cash flow for GRIPS as it scales across the continent.

Who did Sango Capital hire?

Johannesburg-based Sango Capital expanded its investment team with two hires. Darryn Schovell joins as principal from Ethos Private Equity, and Rainer Steinhagen joins as vice president from DEG. Sango invests in Africa-focused private equity funds and makes direct co-investments alongside them, so the additions deepen both its fund-selection and co-investment bench.

What's happening with Quickmart's listing?

Kenyan retailer Quickmart, a portfolio company of Adenia Partners, received regulatory approval for its IPO and listing on the Nairobi Securities Exchange. The deal values the company at about $230 million. Africa Private Equity News editor-in-chief Jaco Maritz spoke to Martha Osier, a partner at Adenia and a Quickmart board member, about the listing. The IPO gives Adenia a route to monetize its holding and hands Nairobi's exchange one of its larger retail listings.

How strong is Southern African fundraising?

Separate data published alongside the week's stories points to a sharply accelerating fundraising environment. Fundraising by Southern African private capital firms rose from R8.4 billion in 2024 to R22.0 billion ($1.3 billion) in 2025 — a 162% increase — according to the SAVCA Private Capital Industry Survey 2026. Exit proceeds also rose over the period, the survey found.

That 162% surge frames the week's individual deals. More capital in regional funds, an EIB anchor proposal for a $500 million vehicle, and a $230 million retail IPO landing in Nairobi all point the same direction: African private equity's deal pipeline and its exit channels are both running hotter than a year ago.