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London-headquartered private equity asset manager Apis Partners LLP said on Thursday it has invested $32 million in DOKU, an Indonesian digital payments firm owned by tech and media firm Emtek Group, in a market seeing strong growth and consolidation.
City A.M. this morning.
Cairo-based Hossam Abou Moussa will join Apis as a partner, together with two other investment professionals.
As a result of the recruitment drive, Apis will now have 30 financial services professionals and staff, who collectively manage or advise on roughly $1.3bn in third-party commitments and investments.
The move means that Apis will expand its presence into seven countries across Europe, Africa and Asia.
“We have had a strong relationship with Actis since our inception having often collaborated or invested together over the years,” Matteo Stefanel, managing partner and co-founder of Apis, explained to
City A.M.
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TymeBank gets R1.6bn injection from global partner
New shareholders get around 20% of the bank, with joint venture GoTyme set to launch in the Philippines in Q2 next year. 00:01
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Malaysia, Vietnam and Indonesia might be next, with more product options coming on line for customers in SA. Image: Moneyweb
TymeBank is set to substantially grow its South African offering and expand to the Philippines following a R1.6 billion investment injection.
The investment by Philippines-based JG Summit Holdings and private equity firm Apis Growth Fund II will give the new shareholders a stake of about 20% in the bank, while maintaining African Rainbow Capital as the majority shareholder.