Weekly Wrap, March 1st, 2021; Apis in $110mln deal for TymeBank, Hlayisani holds first close for first fund, ECP increases holding in SAH Lilas, and more…

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Last Week in Brief…March 1st, 2021

This week we reported on one of the largest deals, value-wise, of the last several months in Africa. Apis Partners, the London-based private equity firm focused on financial services sector opportunities in Africa and South Asia, has teamed up with JG Summit Holdings, a Philippines conglomerate owned by the Gokongwei family, to buy a stake in TymeBank, a 2-year old digital bank headquartered in South Africa owned by African Rainbow Capital. The deal, which was struck in early February, sees the two new shareholders invest $110 million into the bank for an undisclosed, minority stake.

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