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Africa Legal advises consortium of development finance institutions on acquisition of minority stakes in and mezzanine loans to Real People Investment Holdings
Africa Legal acted as adviser to Aureos, Proparco and FMO on their acquisition of a minority stake in RPIH, a micro-finance lender based in the Eastern Cape, South Africa. Real People Investment Holdings (RPIH) has over 120 branches with more than 1600 employees and operates nationally in South Africa, as well as in Swaziland, Lesotho and Botswana and is looking at expanding into the rest of Africa.
In addition to acquiring a minority stake in RPIH, Proparco, FMO and RPIH have also entered into term loan facilities in a combined amount of 15 million Euros.
About the Financiers:
Aureos was formed in 2001 by CDC Group plc of the UK and Norfund of Norway and has been established with the aim to generate commercial returns but operating within a strict code of business principles. Aureos focuses on small and medium sized enterprises.
FMO is the Dutch development bank specialized in financing the private sector in Africa, Asia, Latin America and Central and Eastern Europe. FMO is a joint venture between the State of the Netherlands and the Dutch private sector. Its objective is to stimulate the economic and social progress of developing countries by contributing to the advancement of productive enterprise in these countries.
Proparco is a development finance institution of the French government and contributes to economic and social progress in more than 90 developing and emerging market countries, many of them in Africa.
Africa Legal Team
The Africa Legal team includes English solicitors, South African attorneys, and French, Hong Kong and Zimbabwean qualified lawyers. All team members have extensive pan-African deal experience and share a special interest and expertise in Africa. Click on the names or faces of the team members to see their résumés.
