Individuals
Businesses
Company
Intelligence
News
African Capital Markets
EnglishEnglish
share on twittershare on linkedinshare on facebookshare to whatsapp
share on mail
share on instagram

PE Firm Harith Leads $360M Buyout of African Infrastructure Fund

Daba Finance/PE Firm Harith Leads $360M Buyout of African Infrastructure Fund
BREAKING NEWSNovember 22, 2024 at 10:09 AM UTC

TLDR

  • South African consortium led by Harith General Partners acquires infrastructure fund with key assets like Lanseria Airport and Kelvin Power Station for 6.5 billion rand.
  • Pan African Infrastructure Development Fund investors, including Government Employees Pension Fund, Absa Bank, and Old Mutual, exit with this deal.
  • Harith CEO highlights consortium's role in Africa's energy transition amid a $170 billion annual funding gap for critical projects.

A consortium led by South African private equity firm Harith General Partners has acquired an infrastructure fund with stakes in key assets, including Lanseria International Airport and Kelvin Power Station, for 6.5 billion rand ($360 million). The fund, launched in 2007, also holds stakes in Anergi, which operates Johannesburg’s Kelvin power plant, and fiber assets through Remgro CIVH.

The deal provides an exit for investors in the Pan African Infrastructure Development Fund, which includes South Africa’s Government Employees Pension Fund, Absa Bank, and Old Mutual. Harith is partnering with Mergence Investment Managers and Zungu Investments.

The acquisition occurs amid subdued private equity activity in Africa. Harith CEO Sipho Makhubela emphasized the consortium’s role in Africa’s energy transition and infrastructure development. Africa faces an annual funding gap of $170 billion for critical projects, according to the African Development Bank.

You can follow Daba’s reporting on Africa on WhatsApp. Sign up here

Key Takeaways

The buyout reflects Africa’s growing need for private capital to bridge infrastructure gaps as governments face financial constraints. Harith's portfolio expansion underscores private equity's critical role in addressing the continent's infrastructure and energy challenges. By investing in transportation, energy, and telecom assets, the consortium strengthens its position as a key player in Africa’s infrastructure and sustainable energy transition efforts.

Finance
Private Equity
Harith
South Africa
Absa
Old Mutual
Mergence Investment Partners
Zungu Investments

Think someone else should see this?

share on twittershare on linkedinshare on facebookshare to whatsapp
share on mail
share on instagram
Stay informed with our newsletters read by 25,000+ professionals worldwide
Newsletter companiesNewsletter companiesNewsletter companiesNewsletter companiesNewsletter companiesNewsletter companies

Next Frontier

Stay up to date on major news and events in African markets. Delivered weekly.

Pulse54

UDeep-dives into what’s old and new in Africa’s investment landscape. Delivered twice monthly.

Events

Sign up to stay informed about our regular webinars, product launches, and exhibitions.

+25k investors have already subscribed

To invest in this opportunity and other opportunities across Africa

Download the daba finance app on your mobile through
appstore iconappstore icon
Phone Image

Take action.

Download app

Start investing in Africa’s best opportunities, including stocks, bonds, startups, venture funds, and more.

Partner with us

Unlock exciting business opportunities and growth potential.

Join Daba

Become a part of our vibrant community and enjoy exclusive benefits.

Contact us

Reach out to us for inquiries, support, or collaboration.
For Investor
StrategiesPortfolio ManagementAfrican Capital MarketsNews
Daba Pro Intelligence
For Capital Seekers
For StartupsFor Fund ManagersFor Private CompaniesFor Lenders
For Partners
Commercial BanksBroker DealersAsset ManagersInvestment BanksInvestment Advisors and ConsultantsLenders and Microfinance
Company
About UsMarket UpdatesEventsBlog and PodcastNewsletterCase StudiesAffiliate ProgramInvesting GlossaryOfficial ContactsTrust, Compliance and SecurityFrequently Asked Questions

Terms & ConditionsPrivacy Policy
EnglishEnglish

Owned by Daba Markets Inc. By using this site, you accept our Terms and Conditions and Privacy Policy. © 2024 All rights reserved. 2025 All rights reserved