Vodacom Tanzania disconnects 157,000 subscribers

SIM trouble
in Tanzania

Operator moves on
regulator's directive.

ITWeb Africa

Friday, Jan 24th

Vantage Capital invests in Moroccan tech space

Vantage Capital invests in Moroccan tech space

Africa mezzanine fund manager Vantage Capital announced that it has provided €8.0-million of mezzanine funding to Equity Invest S.A., the holding company for six Moroccan technology companies.

In a statement the technology companies are said to operate within several complementary market sectors including electronic security solutions, audio-visual multimedia systems, photovoltaic solutions for companies in the industrial, services and agricultural sectors, as well as payment solutions and e-health information systems.

According to the statement, the Vantage funding has enabled Equity Invest's founder Ali Bettahi to secure a controlling equity stake in one of Equity Invest's flagship subsidiaries by facilitating the buy-back of equity from an existing private equity investor, PME Croissance, managed by AfricInvest.

"Vantage will support Equity Invest's organic and acquisitive growth plans in the medium-term. Equity Invest plans to reinforce its position in the Moroccan market by adding more technology companies to its portfolio and developing new markets in the rest of Africa," the statement continues.

Bettahi commented, "Vantage has adopted a pragmatic, solutions-based approach to working with us and we appreciate their diligence, efficiency and professionalism. We welcome Vantage as our newest funding partner and look forward to building a mutually beneficial relationship over the years to come."

Vantage Capital says the transaction represents its 28th mezzanine transaction across three generations of mezzanine funds with its portfolio of mezzanine investments now spread across ten countries in Africa.

Outside of South Africa, Vantage has now invested in eleven transactions across Morocco, Côte d'Ivoire, Ghana, Nigeria, Uganda, Kenya, Mauritius, Namibia and Botswana.

Equity Invest is Vantage's first investment in Morocco and second in Francophone Africa.

Warren van der Merwe, Managing Partner at Vantage Capital, added, "Equity Invest has interests in a broad array of IT businesses in Morocco including security systems, audio-visual solutions, renewable energy, e-payments and software systems for the healthcare industry. We appreciate this rich diversity which reflects the open-minded, pioneering spirit of its founder."

ALSO ON ITWEB AFRICA

Brazilian Manufacturers Transform IT Roadmaps by Switching to Rimini Street Support for their SAP Applications Published on 17 January 2020

CFOs at Metalurgica Fallgatter and Continental Parafusos credit Rimini Street support maintenance savings with helping to drive innovation and modernize operations

Africa's chance to shine at UK-Africa Summit 2020 Published on 23 January 2020

Twenty-one heads of state from the continent are expected at the investment-focused event on 20 January 2020.

2020 Risk outlook: Use GRC to build resilience Published on 14 January 2020

ContinuitySA says that as the risk outlook continues to be challenging, organisations should use their governance, risk and compliance (GRC) activities to create robust frameworks that support business resilience.

Zimbabwe launches first computer plant Published on 20 January 2020

Project is a joint venture between TelOne and Chinese firm Inspur.