PEI interview: Creative investors thrive in Africa
28th August 2019
This keynote interview with Tope Lawani appears in Private Equity International’s Africa 2019 issue, highlighting Helios' approach to investing on the continent, views on investment opportunities going forward, and the positive impact generated by Axxela, a Helios III portfolio company.
Acorn to issue Kenya's first green bond
15th August 2019
Kenya's Capital Markets Authority has approved the issuance of the country's first unlisted green bond, to be issued by Acorn, which seeks to raise Kshs5 billion to finance sustainable and climate-resilient student accommodation and is structured as a restricted public offer for sophisticated investors.
Africa Oil Announces Major Oil Discovery Offshore Guyana
12th August 2019
Africa Oil Corp. has announced a significant oil discovery on the Orinduik Block, offshore Guyana. Keith Hill, President and CEO of Africa Oil, commented, "This discovery is a further confirmation of our exploration portfolio strategy. For a limited financial commitment, we have been able to gain significant exposure to some of the h...
Fawry lists on Egyptian Stock Exchange
8th August 2019
Helios Investment Partners announces its partial exit from Fawry for Banking and Payment Technology Service (“Fawry”), the leading electronic payments platform in Egypt. This partial exit was achieved through a heavily oversubscribed initial public offering on the Egyptian Stock Exchange.
Helios and Egyptian-American Enterprise Fund acquire majority stake in Misr Hytech
3rd June 2019
Helios Investment Partners and the Egyptian-American Enterprise Fund, through their investment manager Lorax Capital Partners, announce the acquisition of 96.7% of Misr Hytech Seed International, a leading breeder and producer of proprietary agricultural seeds in Egypt, and one of the Middle East and Africa’s largest independen...
DHL expands its Africa eShop, powered by Mall for Africa
29th May 2019
DHL is expanding its DHL Africa eShop business to 9 additional markets, upping the presence of the global shipping company’s e-commerce platform to 20 African countries. DHL went live with the digital retail app in April, bringing more than 200 U.S. and U.K. sellers — from Neiman Marcus to Carters — online to African con...
IFC provides loan to KMR Holding Pédagogique, leading private higher education platform in Francophone Africa
9th May 2019
IFC, a member of the World Bank Group, is providing a €14 million loan to KMR Holding Pédagogique (KMR), a leading pan-African higher education provider, to expand medical training in Morocco and Senegal and to increase the number of health professionals in both countries. Click ...
Crown Agents Bank acquires Segovia
4th April 2019
Crown Agents Bank has announced that it is acquiring the enterprise business and payment gateway product of Segovia, a US venture-backed technology company focused on frontier market payments. The acquisition will allow Crown Agents Bank to extend its payment network, include mobile money, and integrate Segovia’s modern payments inf...
Vivo Energy completes Engen transaction
1st March 2019
Vivo Energy has announced the completion of the transaction with Engen Holdings (Pty) Limited which adds operations in eight new countries and 230 Engen-branded service stations to Vivo Energy’s network, taking its total presence to over 2,000 service stations, across 23 African markets. The new markets for Vivo Energy are Gabo...
Telkom Kenya and Airtel Kenya announce plans for a merger
8th February 2019
Telkom Kenya Limited and Airtel Networks Kenya Limited have announced the signing of a binding agreement that will see the shareholders of the two companies enter into an agreement to merge their respective Mobile, Enterprise and Carrier Services businesses in Kenya to operate under a joint venture company to be named Airtel-Telkom. ...
Africa Oil announces significant discovery and opening of new petroleum province offshore South Africa
7th February 2019
Africa Oil has announced a significant discovery at the Brulpadda-1AX well on Block 11B/12B offshore South Africa. Africa Oil holds an indirect interest in the project as a result of its equity interest in Africa Energy (35%) and Impact Oil and Gas (30%).
Helios Towers makes its first investment in South Africa
18th January 2019
On 18 January 2019, Helios Towers announced that it has signed an agreement with the South African tower company, SA Towers (Pty) Ltd (“SA Towers”) whereby it will acquire a controlling interest in the business of SA Towers and fund the business’s future rollout. It is the company’s first investment in the country ...
Companies to Inspire Africa 2019 includes four Helios portfolio companies
The second edition of London Stock Exchange Group’s report, Companies to Inspire Africa, is available at: https://www.lseg.com/resources/companies-inspire-africa/companies-inspire-africa-2019
Helios wins 2018 specialist deal award for GBfoods Africa
A mobile answer to Egypt's lack of bank accounts
After launching bill payment in shops, Fawry is pushing payment by phone. See the full article in the Financial Times at: https://www.ft.com/content/b8d1c222-87e3-11e7-8bb1-5ba57d47eff7
Foreign firms learn lessons of Africa's growth
The middle class in Africa has tripled over the last 30 years and is forecast to total 1.1 billion people by 2060, providing an abundance of new customers for both domestic and international companies. This nascent consumer base is changing the perception many investors have of Africa: https://www.raconteur.net/business/foreign-firms-learn-lessons-of-africas-growth
eBay opens US platform to Africa with MallforAfrica.com partnership
Americans can now buy African goods on eBay through MallforAfrica.com. The new online channel expands an existing relationship between the two e-commerce companies. In 2016, they launched the eBay Powered by MallforAfrica platform allowing US vendors to sell in Africa. For more details, see: https://techcrunch.com/2017/08/22/ebay-opens-u-s-platform-to-africa-with-mallforafrica-com-partnership/
Off Grid Electric - The $7 a month plan bringing solar energy to rural Africa
The $7 a month plan bringing solar energy to rural Africa
By Jacopo Prisco, CNN
Off Grid Electric provides solar energy to homes in Tanzania and Rwanda
Plans are financed through microtransactions starting at about $7/month
(CNN) — In sub-Saharan Africa, over 600 million people do not have access to electricity -- that's 68 percent of the population, according to the International Energy Agency.
That's because the power distribution infrastructure -- plants and the grid -- is severely underdeveloped, requires large investments to improve and ultimately can't keep up with the growth in demand.
One solution to the problem is to go "off the grid," mimicking the rapid distribution of mobile phones: over 90 percent of Africans have access to cell phone service -- more than have access to clean water -- but only a fraction of them owns a landline. In the energy sector, the cellphone equivalent is the solar panel, which is easily installed and can provide power to a household or small business.
Off Grid Electric, an African startup, is applying this formula to rural areas of Tanzania and Rwanda yielding both commercial success and life-transforming results for the recipients.
The company is backed by Elon Musk's SolarCity, one of the largest solar energy providers in the US, and Helios, Africa's largest private equity firm.
In November, at the UN's climate change conference in Marrakech, it won the 2016 Momentum for Change Award, which focused on projects that are addressing climate change in innovative ways.
It already powers 125,000 households and employs around 1,000 people -- about a third as salesmen who offer the energy packages door to door.
"Most of these families were burning kerosene to make light, with a negative impact on their health and wellbeing," Bill Lenihan, Off Grid Electric's President, told CNN.
Kerosene produces smoke and can't power anything but a lantern: "Now they have access to clean energy that can also power radios and TVs."
The system includes a solar panel, installed on a roof, and lithium-ion battery which provides electricity around the clock: "Kids can study at night, entrepreneurs can increase their income because their phones work all day and farmers can better protect their cattle -- it's like night and day," said Kim Schreiber, the company's chief of staff.
There are three different sizes of photovoltaic panels, the smallest of which can power four lights and charge one mobile phone.
"We also provide all the energy efficient accessories that go with these, from lights to chargers, to radios and TVs," said Lenihan.
Customers pay 10 percent of their package upfront, the rest is financed through monthly installments.
The costs are competitive, according to Off Grid Electric: "Just connecting to the grid can cost $300 to $400, whereas our system is $7 a month and after three years you own it and never have to pay again," said Schreiber.
Larger packages cost more: for eight lights, a radio and a 24-inch TV, the monthly fee is about $20. In comparison, a month's supply of kerosene typically costs $4 to $5.
The payments are collected via mobile phone transactions, a popular method in the continent, and a five-year service plan is included if something breaks. The battery can last seven years, and the panel itself up to 20.
In case a customer can't keep up with the plan, Off Grid Electric says it offers "room for flexibility," and ultimately the system will be removed after several months of missed installments. But most customers stay on board, according to Lenihan: "The uptake has been very strong, people continue to pay, and the growth has been really good."
Providing electricity to people in sub-Saharan Africa is "a cottage industry and a trillion dollar challenge," said Lenihan.
"We can solve a problem and do it in a way that delivers a return to shareholders, which is the biggest challenge in an industry that, as a whole, has addressed less than 1 percent of this market," he said.
For small businesses, the company offers a package called Zola, which contains everything needed to run a business on solar power, including appliances and entertainment systems.
Off Grid Electric has recently signed a partnership with EDF, the world's largest utility, to expand the program to the Ivory Coast, with a goal of providing clean energy to 2 million people by 2020.
A growth engine: Trends and outcomes of private equity in Africa
This report from The Economist Corporate Network is informed by interactions with leading private equity advocates and actors who support the asset class in Africa.Click here to download
Helios wins two 2017 Private Equity Africa awards
Helios Investment Partners was recognized at the Private Equity Africa Awards 2017 with the Venture Philanthropy Award, and the Large Cap Deal of the Year for Oando Gas and Power.Click here to download