Accor Hotels

May saw some increasing private equity activity in the financial services, hospitality, fintech, and education sectors.

In the financial services sector, there was a capital injection in the form of a share subscription in Sanlam General, according to a report by Cytonn.

In the global hospitality sector, AccorHotels, a French multinational hotel group, signed an agreement to acquire a 100 percent stake of Mövenpick Hotels & Resorts.

In the Fintech space, digital financial services companies Lidya and Cellulant both raised capital through Series A and Series C funding, respectively, and in the education sector, One Thousand & One Voices (1K1V) invested an undisclosed amount in Higher Ed Partners South Africa (HEPSA), a South African based online education company;

Real Estate

During the month, the real estate sector experienced increased activity.

In residential, Erdemann Property Ltd and Cool Breeze Development Limited, announced plans to develop 1,632 housing units in Ngara and 524 units along Mombasa Road in Nairobi County, while United Bank of Africa in partnership with National Housing Corporation announced plans to develop 1,000 affordable housing units in Kakamega County.

In the commercial theme, Federation of Kenya Employers (FKE) announced plans to build an 8-story office building in Upper Hill and  Fusion Capital partnered with Optiven Limited to subdivide and sell a 100-acre land parcel – Amani Ridge in Ruiru, Kiambu County.

Leave a comment