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Organisers Announce Shortlist for 2018 Private Equity Africa Awards

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By Dipo Olowookere

Private Equity Africa (PEA) has announced the shortlist for its 7th Annual GP & Advisor Awards (PEA Awards).

A statement issued by the organisers said this year’s Awards Gala Dinner would be hosted at the prestigious 5-Star Langham Hotel in London on Tuesday, June 12, 2018.

This follows the PEA LP-GP Investor Summit, a full day event and the summit includes hosted sector-focused round-tables, lunch discussions and an open room debate session.

The PEA Awards celebrate the achievements in the African private equity market, focusing solely on the best-in-class achievements of investors and advisors in the industry.

The final winners will be selected by an independent panel of highly respected industry participants, based on selections from the London Business School Private Equity Institute and the PEA Awards Nomination Team.

The 2018 PEA Awards have received a record number of entries, the highest since the awards were launched.

Based on 2017 achievements, the self-entries are complemented by editorial recommendations from the Private Equity Africa team and industry data.

According to the Awards Chair and Editor of Private Equity Africa, Gail Mwamba, “The PEA Awards are growing from strength to strength with a record number of entries this year, the most we have received since the launch of the awards.

“The high quality of the entries we have received shows the industry’s resilience in continuing to deploy capital and execute world-class deals, even in challenging market conditions.”

Below is the awards shortlist by category

GP AWARDS                 

HOUSE OF THE YEAR

SUBCATEGORIES: SSA, Regional & Specialist

    ACA

    Actis

    AfricInvest

    Amethis

    Capitalworks

    Carlyle

    DPI

    Ethos

    Helios

    Investec Asset Management

    LeapFrog

    Mediterrania Capital Partners

    Old Mutual Alternative Investments

    Verod

    XSML

DEAL OF THE YEAR

Large-Cap

    Abraaj – Tunisie Telecom

    Actis – Honoris

    Carlyle – Shell Gabon

    DPI – Atlantic Business International

    Harith – Sheltam

    Helios – GBFoods Africa

    Milost Global – Eco Medical

Mid-Cap

    8 Miles – Blue Skies

    AfricInvest – Britam

    Alta Semper – Macro Pharmaceuticals

    Amethis – Groupe Premium

    Apis – Greenlight Planet

    Atlas Mara – Union Bank Nigeria

    Capitalworks – Minet, Petmin, Sovereign Food

    Carlyle – GCR

    EMR – Capital Lubambe

    EuroMena – Retail Holding

    Investec Asset Management – Kamoso

    Medu Capital – HeroTel

    Sanlam – JAB Dried Fruit

    TA Associates – Interswitch

Small-Cap & Venture Capital

    4Di Capital – Sensor Networks

    AFIG – Tecnicil

    African Rainbow Capital – A2X Markets

    AfricInvest – ICS

    Agile Capital – Goldrush

    Algebra Ventures – ElMenus

    Alta Semper – Health Plus

    Argentil – Chocolate City Express

    Ascent Capital – Kisumu

    Catalyst – Jambo Biscuits

    DiGAME – 10X Investments

    Draper Associates – BitPesa

    Energy Access Ventures – SunCulture

    Enko – AMI International, Ecobank

    I&P – Societe Malienne de Blanchisserie

    Kalon Venture Partners – i-Pay, SnapnSave

    Kibo Capital – Tropigalia

    Kleoss Capital – Debt Rescue

    Knife Capital – Quicket

    LeapFrog – AllLife

    Lereko & Metier – Butama

    Moringa –  Tolaro

    Musa Capital – Swanib Cables

    Oasis Capital – Legacy Girls College

    Old Mutual Alternative Investments – Faircape Life Right

    Pointbreak – Khomas Solar Saver

    Quona Capital – AllLife

    Sahel Capital – Crest Agro

    Synergy Capital – Dimension Data, Northstar

    Teranga Capital – OuiCarry

    Verod – Oreon Education

    XSML – Monishop

Debt

    AfricInvest – Carbon Holdings

    Injaro – AviNiger

    Investec Asset Management – Akuo Kita Solar

    Moringa – Tolaro

    Old Mutual Alternative Investments – Sifiso Education

    TLG – BAJ Stations

    Vakayi – Homelux

    Vantage – Purple Capital

    XSML – Monishop

Infrastructure

    AHL – PowerGen

    AIIM – Albatros, Starsight

    Black Rhino – Qua Iboe Power Plant

    Denham – Te Power

    DOB Equity – PowerGen

    Helios – Starsight

EXIT OF THE YEAR

SUBCATEGORIES: Large, Medium, Small-Cap, Landmark

    Actis – Edita

    AfricInvest – Comete Engineering, Tunisian Health Care Centers

    Capitalworks – Much Asphalt

    CDG Capital – Intelcia

    Convergence Partners – Dimension Data Middle East & Africa

    DiGAME – Getsmarter

    DOB Equity – Joseph Initiative

    DPI – CAL Bank

    ECP – Java House

    EXEO Capital – Fairfield Dairy

    Injaro – Nafaso

    Investec Asset Management – Daraju

    Lereko & Metier– AE AMD Renewable Energy

    Mediterrania Capital Partners – San Jose & Lopez

    Standard Chartered Private Equity –  CEC Zambia, ETG, Kamoso

PORTFOLIO COMPANY OF THE YEAR

SUBCATEGORIES: Innovation, Improvement, Development & Social Impact

    8 Miles – Awash Wine

    Actis – Honoris

    AfricInvest – Esprit

    Argentil – Winchester Farms

    Carlyle – J&J Africa

    DPI – KMR Holding Pdagogique

    Duet – Dashen Brewery

    ECP – Oragroup

    Fanisi – Haltons

    Helios – Interswitch, HTA

    Injaro – Agricare Ghana, Gold Coast Fruits

    LeapFrog – Goodlife

    Mediterrania Capital Partners – Medtech

    Quona – Zoona

    TLG – MyBucks, Cipla Quality Chemicals

    Verod – Central Securities Clearing Systems

    Zebu – Topcrust Bakery

ADVISOR AWARDS

Legal Advisors

Global Legal Advisors

SUBCATEGORIES: Overall, Funds, Transactions & Single Deal

    Akin Gump

    Allen & Overy

    Baker McKenzie

    Charles Russell Speechlys

    Cleary Gottlieb Steen & Hamilton

    Clifford Chance

    Cuatrecasas

    Debevoise & Plimpton

    Dentons

    DLA Piper

    Eversheds Sutherland

    Foster Pepper

    Freshfields Bruckhaus Deringer

    Herbert Smith Freehills

    Hogan Lovells

    Latham & Watkins

    Linklaters

    Norton Rose Fulbright

    O’Melveny

    Orrick, Herrington & Sutcliffe

    Simmons & Simmons

    White & Case

Local & Frontier Legal Advisors

SUBCATEGORIES:Overall, Funds, Transactions & Single Deal

    Aluko & Oyebode

    Anjarwalla & Khanna

    Banwo & Ighodalo

    Bentsi-Enchill, Letsa & Ankomah

    Bowmans

    Cliffe Dekker Hofmeyr

    ENSafrica

    Olajide Oyewole

    Musa Dudhia & Co

    The New Practice

    Udo Udoma & Belo-Osagie

    Webber Wentzel

    Werksmans Attorneys

Financial Advisors

Global Financial Advisors

SUBCATEGORIES: Overall & Single Deal

    Crossboundary

    Deloitte

    EY

    KPMG

    Marsh

    PwC

    Rothschild & Co

    Taylor Collison

Local & Frontier Financial Advisors

SUBCATEGORIES: Overall & Single Deal

    CI Capital Investment

    EFG Hermes

    Merchantec Capital

    Meziou Knani & Khlif

    Pangaea Securities

    Perigeum

    Viva Africa

Other Advisors

    ABSA Capital

    EBS Advisory

    ERM

    Stanbic IBTC

Fund Administrators

    Abax Services

    Augentius

    Axis

    Intercontinental Trust

    Maitland

    SANNE

    SGG

    Trident Trust

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

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QNET’s Global Reach in 100+ Countries: What International Access Means for Local Distributors

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QNET

Global scale means market access and international supply chains. For individual distributors in direct selling, it can shape everything from product availability to income stability and long-term opportunity.

QNET, the multinational wellness and lifestyle direct selling company, positions its business model around that idea: connecting locally based independent distributors to an international operating platform. With activity spanning more than 100 countries, the company sits within a direct selling industry that, according to the World Federation of Direct Selling Associations (WFDSA), has stabilized after several relatively volatile post-pandemic years.

Global Reach Within a Stabilizing Industry

The WFDSA’s latest global report estimates worldwide direct selling retail sales at roughly $163.9 billion in 2024, essentially flat year over year. That flat performance, however, masks gradual improvement beneath the surface. Nearly half of reporting markets showed growth in 2024, and average market growth rates rebounded to positive territory.

The report estimates more than 104 million independent sales representatives globally in 2024, a figure that has remained largely stable year over year.

This stabilization sets a backdrop for companies like QNET. A global footprint is no longer about rapid expansion alone; it is increasingly tied to resilience: operating across regions with different economic cycles, consumer behaviors, and growth trajectories.

For distributors, this matters because opportunities extend beyond individual effort. They are often shaped by the health of the company’s broader channel and product reach.

A Platform Designed for Distributed Entrepreneurship

QNET’s model centers on local execution supported by centralized infrastructure. Products—ranging from nutritional supplements and wellness devices to home and lifestyle solutions—are sold through the company’s proprietary e-commerce platform. Independent distributors do not manage warehouses, shipment logistics, or customer service systems.

As Ramya Chandrasekaran, who heads communications at QNET, explained in a recent interview, the company views direct selling as a form of accessible “micro-entrepreneurship.” The idea is to reduce the operational burden typically associated with starting a business, allowing distributors to focus on product education, customer relationships, and market development.

Why Global Scale Changes the Distributor Equation

One practical benefit of international reach is product continuity. WFDSA data shows that wellness products account for roughly 29% of global direct selling sales, making it the largest category worldwide. In the Asia-Pacific region, the largest direct selling region by sales, wellness represents more than 40% of total category share.

QNET’s emphasis on wellness and lifestyle products places distributors in line with the strongest demand segments globally. Instead of relying on narrow local trends, distributors operate within product categories that have shown consistent global interest.

International scale also supports consistency in training, compensation structures, and digital tools. Distributors in different countries access identical back-end systems, tracking referrals, commissions, and orders through the same platform. This standardization reduces friction and uncertainty, particularly for individuals operating in markets where informal commerce is common.

Workforce Shifts

The WFDSA’s report highlights notable shifts in the global direct selling workforce. Women continue to make up more than 70% of participants worldwide, and representation among individuals aged 35 to 54 remains the largest cohort.

Independent Distributors increasingly value flexibility, long-term viability, and support systems that allow them to operate sustainably rather than aggressively scale. QNET’s emphasis on digital access, centralized operations, and gradual business building reflects those priorities.

For many participants, especially those balancing work with caregiving or other responsibilities, direct selling infrastructure offers a way to stay engaged at their own pace.

Training, Exposure, and Cross-Market Learning

QNET’s international conventions and training programs connect distributors across regions, creating informal networks for peer learning. Events that draw participants from dozens of countries expose distributors to varied approaches to sales, customer engagement, and market adaptation.

This mirrors one of WFDSA’s broader conclusions: direct selling increasingly functions as a global learning ecosystem, with companies providing tools and education that help individuals navigate uncertain economic conditions.

For distributors, exposure to cross-border experiences can recalibrate expectations, reinforcing that success often comes from steady engagement rather than rapid recruitment or short-term activity.

International Access, Interpreted Locally

Despite its global scale, QNET’s business ultimately plays out in local communities. Distributors adapt messaging around wellness, home quality, and lifestyle enhancement to cultural norms and household priorities. The international platform provides reach and structure, but relevance is built locally.

That balance, global systems supporting local relationships, defines much of modern direct selling. The WFDSA describes the industry not as a single growth story, but as a framework that can scale proportionally with economic conditions across regions.

For QNET distributors, international presence does not guarantee income or uniform outcomes. What it offers is access: to resilient product categories, standardized systems, training resources, and a global marketplace that extends beyond any single region. For local distributors navigating today’s uncertain global economic environment, that is an important foundation to maintain.

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FCCPC Unseals Ikeja Electric Headquarters

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Ikeja Electric

By Adedapo Adesanya

The Federal Competition and Consumer Protection Commission (FCCPC) has unsealed the headquarters of Ikeja Electric Plc in the Lagos State capital after a week under lock and key.

According to a statement on Friday, the electricity distribution company committed to a binding undertaking to comply with the remedial process following consumer rights violations.

The statement signed by Mr Ondaje Ijagwu, Director of Corporate Affairs at the commission, Ikeja Electric undertook to resolve all consumer complaints referred to it by the FCCPC within agreed timelines

The headquarters was earlier sealed on December 11, 2025, because Ikeja Electric allegedly failed to comply with a directive by the Nigerian Electricity Regulatory Commission (NERC) to unbundle a Maximum Demand account into 20 individual accounts for a customer who had been without power for over two and half years.

The FCCPC noted that following the resolution, any breach of the undertaking would expose it to renewed and escalated enforcement action under the Federal Competition and Consumer Protection Act.

Reacting, the Executive Vice Chairman and Chief Executive Officer of the FCCPC, Mr Tunji Bello, said the Commission’s intervention was necessary to enforce the provisions of the FCCPA (2018).

“Our responsibility is to ensure that consumers are treated fairly and that service providers comply with lawful decisions and directives. Enforcement is not an end in itself. Where compliance is achieved and credible commitments are made, the Commission will respond appropriately,” he said.

Clarifying further, Mr Bello said the outcome reflects the commission’s balanced approach to regulation.

“We intervene decisively where consumer harm persists, and we de-escalate where enforceable compliance is secured. What remains constant is our duty to protect consumers and uphold regulatory accountability,” he said.

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All On’s Clean Energy Access Transforms Over One Million Lives

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All On

By Modupe Gbadeyanka

The decision by a leading impact investment company focused on expanding clean energy access, All On, to support over 50 clean energy businesses and provide grants and technical assistance to more than 80 enterprises in Nigeria is already yielding positive results.

This is because the organisation’s Impact Evaluation Report indicated that more than one million lives have been transformed through clean energy access.

The report covered from 2018 t0 2024 and it was discovered that the interventions of All On enabled the connection of over 230,000 households, businesses, and public facilities to reliable energy solutions, while strengthening the operational capacity of energy providers and improving affordability and service reliability for end users.

Prior to the commencement of All On’s operations in 2016, nearly half of Nigeria’s population lacked access to electricity, and the sector faced an estimated 92 per cent annual funding gap.

In response, the group adopted a bold, risk-tolerant strategy—deploying catalytic capital, innovative financing instruments, and ecosystem-building initiatives to unlock private sector participation and drive progress toward universal energy access.

Central to these achievements is All On’s holistic support model, which combines rigorous, tailored due diligence, deep sector expertise, and active ecosystem engagement.

This approach has positioned All On as a trusted partner capable of delivering both commercial viability and systemic impact.

Flagship initiatives such as the Demand Aggregation for Renewable Technology (DART) programme have further amplified results by reducing procurement costs for supported businesses by up to 50 per cent, enabling developers to scale faster and pass cost savings on to consumers due to access to reliable, affordable, and sustainable energy solutions.

In the report, it was revealed that half of supported households reported improved air quality, enhanced safety, and reduced noise pollution, contributing to better health outcomes and improved quality of life, alongside measurable environmental benefits.

“This report confirms that our approach is delivering real results. By combining patient capital, technical assistance, and ecosystem support, we are enabling scalable and sustainable energy solutions for Nigeria’s unserved and underserved communities,” the chief executive of All On, Ms Caroline Eboumbou.

The company plans plans to scale proven models, strengthen local capacity, and expand its reach—particularly in underserved regions such as the Niger Delta.

“While the progress to date is encouraging, our work is far from done. As we look toward 2030, we remain committed to deepening our impact and creating even more meaningful connections across Nigeria,” Ms Eboumbou added.

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