Harsh Shah

Investment professional

Past deals in Sub Saharan Africa

Access Bank

Debt Financing in 2024
Access Bank, established in 1988 and headquartered in Lagos, Nigeria, is a commercial bank that offers a wide range of banking products and services to individual and business customers. The bank operates in Ghana and provides various accounts, including standard savings and current accounts, as well as specialized options such as access advantage and premier accounts. Access Bank also offers online banking services, facilitating ATM transactions, online access, point-of-sale terminal services, bill payments, and Western Union money transfers. In addition to personal banking, the bank provides corporate and investment banking, commercial and business banking services, along with mortgage loans and sustainable international banking solutions.

Africinvest

Debt Financing in 2024
AfricInvest, established in 1994 and headquartered in Tunis, Tunisia, is a prominent private equity investment firm focused on supporting small and medium enterprises across Africa. With dedicated investment teams for both North Africa and Sub-Saharan Africa, AfricInvest employs 66 professionals across seven offices. The firm has invested in 135 companies spanning 25 African countries, targeting high-growth sectors such as financial services, agribusiness, consumer goods, retail, education, and healthcare. AfricInvest is recognized for its strong, long-term relationships with local and international investors, including major development finance institutions. In addition to its investment activities, the firm actively promotes the private equity industry in Africa, having co-founded several key associations, including the African Venture Capital Association and the Middle East North Africa Private Equity Association.

Leasafric Ghana

Private Equity Round in 2024
Leasafric Ghana Limited is a prominent provider of finance leasing services based in Accra, Ghana. Established in 1994, the company specializes in financing equipment and vehicles for both companies and individuals. Its service offerings include operating leases and fleet management, as well as finance leases for automobiles and consumer goods. Additionally, Leasafric Ghana provides outsourcing services that encompass personnel evaluation, the development of staff job goals and descriptions, staff training, and chauffeur training. As a subsidiary of C & I Leasing Plc, Leasafric Ghana plays a significant role in facilitating business operations through its comprehensive leasing solutions.

Juhudi Kilimo

Debt Financing in 2024
Juhudi Kilimo provides asset financing, technical assistance, and business training services to smallholder farmers and small-to-medium agro businesses in Kenya. It offers financing for dairy cows and goats; poultry, pigs, rabbits, and other livestock as well as fish farming; agricultural equipment, including irrigation, agro-processing, and energy-related equipment; and motorcycles, bicycles, and other vehicles primarily to transport farm goods. The company was founded in 2004 and is based in Nairobi, Kenya.

Good Nature Agro

Series B in 2023
Good Nature Agro is a social enterprise based in Chipata, Zambia, focused on empowering small-scale farmers to generate sustainable income. The company recruits groups of farmers who nominate a member to serve as a Private Extension Agent (PEA). These PEAs receive training in agronomy and community engagement, enabling them to provide tailored support and guidance to fellow farmers throughout the growing season. Good Nature Agro supplies quality legume seeds and offers loans to facilitate improved farming practices. At harvest time, the company serves as a reliable market for the produce, specifically certified legume seeds, which allows farmers to earn significantly more compared to traditional cash crops like maize and cotton. Since its founding in 2014, Good Nature Agro has aimed to enhance agricultural productivity and income for local farming communities.

RDG Collective

Debt Financing in 2023
RDG Collective was established in 2018 with the ambition to ‘Empower the Future’ by developing and distributing innovative solar home systems throughout Zambia, where an estimated 2.4 million households still lack access to electricity. While the cost of solar energy remained prohibitively high for almost all off-grid households, RDG Collective came up with innovative products distributed on a pay-as-you-go basis. By eliminating this financial barrier, RDG has enabled an increasing number of Zambian households to access solar home systems, refrigerators, solar water pumps and smartphones to improve and empower their lives.

MyCredit

Debt Financing in 2023
MyCredit is a non-banking financial institution based in Nairobi, Kenya, that specializes in providing a range of financial services. The company offers various types of loans, including business and salary loans, as well as guarantees such as bid bonds and performance bonds. Additionally, MyCredit provides leasing services and a comprehensive suite of insurance products. These insurance offerings encompass motor insurance, personal accident coverage, burglary insurance, liability insurance, fidelity guarantee, money insurance, agriculture insurance, and domestic package insurance, as well as travel insurance. By catering to diverse financial needs, MyCredit aims to support individuals and businesses in managing their financial risks and enhancing their economic opportunities.

Solarise Africa

Debt Financing in 2022
Solarise Africa is a pan-African Energy-as-a-Service company headquartered in Nairobi, Kenya, specializing in financial leasing services for solar and other energy assets aimed primarily at Commercial and Industrial clients. The company provides reliable and affordable decentralized energy solutions, collaborating closely with a selected group of renewable energy solution providers to create tailor-made financial options. By offering upfront investment and manageable payment plans, Solarise Africa enables businesses to deploy clean energy systems that lower their carbon footprint, reduce costs, and enhance productivity. This approach not only supports the growth of their partners but also contributes to the broader progress of energy access and sustainability across Africa.

Solar Panda

Series A in 2022
Solar Panda is a Canadian company that provides Pay-As-You-Go solar home systems designed to deliver clean and affordable energy to rural communities in Kenya that lack access to electricity. The company manufactures and sells a range of solar products, including home solar kits, lamps, solar TVs, mobile phone chargers, radios, and portable lanterns. By financing these products, Solar Panda makes them accessible and affordable for customers, helping to eliminate the reliance on harmful kerosene lanterns and reducing energy costs for families. The company aims to enhance quality of life by supporting education, improving productivity, and increasing safety. Since its first sale in December 2017, Solar Panda has rapidly expanded its reach, powering hundreds of thousands of homes and positioning itself as a leader in the affordable solar energy sector.

PowerGen Renewable Energy

Debt Financing in 2021
PowerGen Renewable Energy is a leading provider of energy solutions in East Africa, focused on transforming energy access for residential, community, commercial, government, and industrial customers. Founded in 2011 and headquartered in Nairobi, Kenya, with additional offices in Arusha, Tanzania; Freetown, Sierra Leone; and Lagos, Nigeria, the company specializes in the development, construction, and operation of solar mini-grids. PowerGen offers a range of services including engineering, procurement, construction, and financing, ensuring affordable and reliable power for communities that are not connected to national electricity networks. As a pioneer in the solar mini-grid sector, PowerGen is committed to driving the clean energy transition across Africa and is a founding member of the Africa Mini-grid Developers Association, collaborating with various sector leaders to enhance energy access in the region.

Grace and Mercy Household Improvement Initiative

Debt Financing in 2021
Grace and Mercy Household Improvement Initiative offers financial opportunities for the poor and low-income earners. Their products and services are geared toward assisting micro, small, and medium-scale businesses, which comprise the majority of the economy and serve as the engine of the economy. The majority of recipients are women, and young people make up the majority of the excluded and vulnerable. To assist and strengthen the economy of Nigeria's low-income earners by facilitating easy access to financial services for the poor, excluded, and disadvantaged.

First City Monument Bank

Debt Financing in 2021
First City Monument Bank is a commercial banking institution founded in 1982 and based in Lagos, Nigeria. It serves a diverse clientele, including large corporations, small and medium enterprises, and individual customers. The bank offers a wide array of financial services, such as personal banking, business banking, and corporate banking. Its product offerings include loans, savings and current accounts, credit cards, and online banking. Additionally, First City Monument Bank provides specialized services like cash management, foreign exchange, corporate finance, and trade services. The bank's corporate finance division focuses on financial advisory, capital raising, mergers and acquisitions, and infrastructure and project finance, facilitating digital transformation in banking for its customers.

Access Bank

Post in 2019
Access Bank, established in 1988 and headquartered in Lagos, Nigeria, is a commercial bank that offers a wide range of banking products and services to individual and business customers. The bank operates in Ghana and provides various accounts, including standard savings and current accounts, as well as specialized options such as access advantage and premier accounts. Access Bank also offers online banking services, facilitating ATM transactions, online access, point-of-sale terminal services, bill payments, and Western Union money transfers. In addition to personal banking, the bank provides corporate and investment banking, commercial and business banking services, along with mortgage loans and sustainable international banking solutions.

SolarNow

Debt Financing in 2019
SolarNow is a company that provides solar energy solutions and financing in East Africa, particularly through its operations in Uganda and Kenya. Founded in 2011 by Willem Nolens and headquartered in Nijmegen, the Netherlands, SolarNow focuses on delivering solar home systems, electrical appliances, and tailored power solutions for rural and urban households, small businesses, farmers, and institutions. The company aims to meet the growing demand for clean and affordable energy by offering high-quality, reliable solar products, along with flexible credit options that enable customers to access these essential services. Through its comprehensive approach, SolarNow addresses the energy needs of various sectors while promoting sustainable energy use in the region.

Inyenyeri

Convertible Note in 2018
Inyenyeri gets the even the poorest of Rwandan households to switch from cooking with wood and charcoal by providing clean and renewable fuel that cooks better and is more affordable. Inyenyeri is a for-profit social enterprise. Profitability ensures sustainable social impact and increases access to financial capital needed to scale quickly.

PEG

Debt Financing in 2016
PEG is an asset financing company that specializes in providing Pay As You Go solar energy products to off-grid customers in West Africa, particularly in Ghana, Cote d'Ivoire, and Senegal. Founded in 2013 by Hugh Whalan and Nate Heller, PEG aims to improve the quality of life for its customers by offering financing for solar home systems. This financing model allows households to transition from expensive and polluting fuel sources, such as kerosene, to sustainable solar energy, which not only enhances their living conditions but also serves as a long-term asset. PEG's solar systems provide access to better lighting, mobile phone charging, and appliances like radios and televisions, contributing to a more sustainable and efficient energy solution for underserved communities. Headquartered in Accra, Ghana, PEG is dedicated to promoting renewable energy and improving the standard of living for its customers through innovative financing solutions.
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