VENTURE CAPITAL POST

South African company Times Media Group has acquired a majority stake in Radio Africa Limited valued USD18.62 million, reported Ventures Africa.

Cape Town, South Africa-based startup accelerator 88mph is expanding to Lagos, Nigeria to begin a new venture with seed funding specialist L5Lab to fund startup programs.

Johannesburg, South Africa-based media firm Times Media Group (TMG) picked up a 49% stake in Nairobi, Kenya-based broadcasting company Radio Africa Ltd in a deal valued at $18.62 million ZAR1.58 billion.

Microsoft has innovated an Indian hotline for startups to give advice, available during business hours from Monday to Friday, reported Venture Beat.

BNP Paribas has acquired RCS in a deal valued USD250 million, reported Ventures Africa.

The United Bank for Africa has revealed that it would slow down its expansion in Africa that would be favorable to Nigeria's power projects, reported Ventures Africa.

Seplat's public debut has been expected to increase IPOs on the Nigerian Stock Exchange, reported Ventures Africa.

Lisec Group disclosed expansion plans directed to entering the Nigerian glass market, reported Ventures Africa.

Advanced Finance and Investment Group (AFIG) would raise USD200 million investment for SMEs in Africa in the next two years, said a report from Ventures Africa.

Seplat Petroleum Development Company has set its price for an IPO at USD1.67 per piece with dual listings on the Nigerian Stock Exchange and the London bourse, reported Ventures Africa.

Databank Financial Services has launched a private equity fund to cater to small and medium industries in Africa's agricultural sector.

PricewaterhouseCoopers has announced its acquisition of Booz & Company without disclosing financial terms of the deal, reported Ventures Africa.

Kenya's investment firm TransCentury has sold 34 percent of the stake it holds in Rift Valley Railways to Citadel, reported Ventures Africa.

The sugar industry of Nigeria would be expecting a lot of hefty investments from key players in the market following the increase of demand for sugar, reported Ventures Africa.

Sanofi is looking to grasp a good hold in Africa through acquisition of business units, according to the firm's CEO Chris Viehbacher who told Reuters.