Impact signs farm-out agreement with Total
10th October 2017
Helios portfolio company Impact Oil and Gas signed a farm-out agreeement with Total E&P whereby Total will acquire 70% of Impact's interests in Block 2913B, offshore Namibia, and 77.78% of Impact's interests in Orange Basin Deep TCP, South Africa.
Oando Gas & Power Rebrands as Axxela
9th October 2017
Oando Gas & Power formally announced the change of its corporate identity and branding to Axxela Limited ("Axxela"). The rebranding effort follows last year's acquisition of a controlling stake in the business by funds advised by Helios Investment Partners. Axxela pioneered the development of Nigeria's foremost natural...
responsAbility takes stake in Helios portfolio company, Fawry
3rd October 2017
A responsAbility-managed private equity company has invested in Fawry, the leading mobile payments platform in Egypt, alongside Helios Investment Partners; MENA LTV Fund, managed by EFG Hermes; Egyptian American Enterprise Fund; and the IFC, a member of the World Bank Group.
Helios Investment Partners and Aberdeen Asset Management announced as first Sponsors of SEO London's Flagship Female Leadership programme – HerCapital
4th August 2017
SEO London has announced the launch of a year-long leadership development programme for female undergraduates, aimed at transforming gender diversity in financial services. Helios Investment Partners and Aberdeen Asset Management will be funding the programme as "HerCapital Providers". For details, please see:...
Helios acquires African fertilizers and inputs operations from Louis Dreyfus Company
24th July 2017
Helios Investment Partners has today announced the acquisition of 100% of Fertilizers and Inputs Holding B.V., which holds Louis Dreyfus Company’s (LDC) Africa-based fertilizers and inputs operations.
LSE publishes “Companies to Inspire Africa 2017”: Helios portfolio companies featured
31st March 2017
The London Stock Exchange Group has undertaken an unparalleled research project, in partnership with African Development Bank Group, CDC Group and PwC, to reveal Africa's most inspiring small & medium-sized enterprises. The report is available to download from the LSE site: http://www.lseg.com/resources/companies-inspire-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: 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.
Spotlight on OPIC Impact Award winners: Helios Investment Partners
In addition to the direct financing OPIC provides to many projects in emerging markets, the Agency also supports development by providing financing to privately-owned and managed equity funds investing in emerging markets.Click here to download
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