Verdant IMAP (www.Verdant-Cap.com) has advised a leading UK private equity firm on the sale of Awash Wines SC, a leading Ethiopian wine producer, to a strategic investor consortium. The sale represented an 89% interest in Awash Wines SC 

Founded in 1936, Awash Wines is one of the oldest and most established wine producers in Ethiopia, known for its range of quality wines, including the popular Axumit, Gouder, and Awash brands. The company has a rich history and has been instrumental in shaping the Ethiopian wine industry. 

The transaction reinforces Verdant IMAP’s position as a leading advisor to private equity clients in Africa and builds on its market-leading sector competence in advising on transactions in the FMCG and agri-business sector.  Verdant IMAP has been achieved league table positions in the top four of the DealMakers Africa league tables in three consecutive years, 2021-2024. 

Terms for the transaction were not disclosed. 

Distributed by APO Group on behalf of Verdant Capital.

Media enquiries: 
Orient Mahonisi
orient.mahonisi@verdant-cap.com  

About Verdant IMAP: 
Verdant IMAP is a leading investment bank operating on a pan-African focus, specialising in M&A and in private capital markets.  Verdant IMAP is the IMAP partner firm for its region.  IMAP with partner firms in nearly 50 countries, with over 600 M&A professionals, completing over 200 M&A transactions per year, reinforces Verdant IMAP’s capability to deliver innovative financial solutions to clients across Africa and around the World. www.Verdant-Cap.com

Azentio Software (“Azentio”) (www.Azentio.com), a leading end-to-end software company specializing in the BFSI sector, today announced the completion of the acquisition of software assets and intellectual property (IP) of iMOTOR and Pysurance from two Kuwait-based software product companies. The acquisitions will see Azentio re-writing the future of insurance software by allowing the organization to build the next generation of insurance software on a state of the art, innovative technology stack with compelling AI and machine learning capabilities.

McKinsey has predicted that around 50% of claims processing will be automated by 2030. With iMOTOR, a powerful claims automation module, Azentio aims to expand its market leading insurance offering by helping insurers to automate and streamline their claims workflows, realizing both operational efficiency improvements and material cost savings. Claims automation has been widely acknowledged as one of the most significant recent advancements in insurance technology and a vital component of modern insurance operations. This acquisition will add significant value for Azentio’s expanded client-base, helping insurers to automate and streamline claims workflows, leading to enhanced customer experience, increased productivity, and improved efficiency and accuracy.

With AI and machine learning tipped to revolutionize the insurance industry, transitioning from legacy systems to next generation insurance software has never been more important. Through the acquisition of IP and tech from Pysurance, a cutting-edge cloud native and SaaS based platform which has been built-for-purpose specifically for the insurance industry, Azentio will create the future of insurance software, facilitating insurers in this evolution from legacy systems to a next-gen, AI and machine ready platform. By modernizing the core technology available to core insurance providers, customers can improve their decision making capabilities, increase productivity, and embrace the latest and greatest innovations in technology to make smarter business decisions.

Sanjay Singh, CEO, Azentio, said, “Azentio is extremely excited to play our part in re-writing the future of insurance software, combining our deep domain knowledge with the latest, most innovative technology platforms. The advanced AI and machine learning capabilities we will build upon following this IP and asset acquisition will see us bringing the next generation of cutting-edge software to our insurance customers. The enhanced technical depth and future-proof build opportunities this brings to our products will help bring our vision to life by revolutionizing the way insurers consume and innovate through software. This will be a paradigm shift in the way technology helps drive value for our customers.”

Co-Founder and CTO of Pythys, Taher Alkhateeb, commented, “We are thrilled to find a new home for our software systems at Azentio. This acquisition represents the perfect mix of modern software technology stacks combined with deep domain expertise in the insurance industry. We strongly believe this combination will help us to push the boundaries of what technology can achieve in this space.”

Ali Abbas, Co-Founder and CEO, iMOTOR, stated, “Joining Azentio is an important step for us. We believe that Azentio’s established experience in the insurance technology industry aligns perfectly with our vision, and that together – we are even stronger. By integrating our modern technologies, we will not only enhance efficiency and excel through customer experience, but also truly transform the technology landscape in the insurance industry. We are excited and ready for this journey, and we are confident that this partnership will drive innovation and deliver significant value to our customers.”

Distributed by APO Group on behalf of Azentio Software Private Limited.

About Azentio Software: 
Azentio Software incorporated in 2020 at Singapore, has been carved out of 3i Infotech, Candela Labs, Beyontec Technologies and Path Solutions. Azentio Software provides mission critical, vertical-specific software products for customers in banking, financial services and insurance verticals. Azentio has over 800 customers in more than 60 countries, with a team of over 2,300 employees across offices in 12 countries (and growing) globally and is wholly owned by Funds advised by Apax Partners.

Turkish Cooperation and Coordination Agency (TİKA) organized a training program on “Introduction to Integrated Learning and Teaching Models,” attended by 82 teachers in Zanzibar, Tanzania.

During the training program, participants learned how to apply the Harezmi Education Model, a local and national education framework. They also gained insights into artificial intelligence and robotic coding. The program concluded with product and poster presentations by the participating teachers, making a significant contribution to education in Zanzibar.

At the project exhibition and certificate ceremony held after the training, Asiya Iddi Issa, Director of Secondary Education at the Ministry of Education and Vocational Training of Zanzibar, expressed her gratitude to TİKA and emphasized the value of such training programs for the development of students.

The Turkish Ambassador to Tanzania, Dr. Mehmet Güllüoğlu, highlighted the importance of educational cooperation between the two countries and discussed the positive impact of such programs on Tanzania’s education system.

Tanzanian teachers who participated in the training stated that the Harezmi Education Model significantly contributed to their professional development and would enhance the quality of education. They noted that this model opens new horizons in education by fostering analytical thinking, a collaborative approach and problem-solving skills among students.

The training program, which received extensive coverage in both local and national press in Zanzibar, concluded with a certificate ceremony and a souvenir photo session.

Distributed by APO Group on behalf of Turkish Cooperation and Coordination Agency (TIKA).

Turkish Cooperation and Coordination Agency (TİKA), in collaboration with Mozambique’s State Secretariat for Youth and Employment, established a 100-square-meter Production Greenhouse and a Pepper Sauce Production Workshop in Katembe Province. This initiative aims to promote the cultivation of local Piri Piri Peppers and the production of Piri Piri Sauce.

TİKA, which develops projects to support the production of locally grown Piri Piri Peppers, highly sought after in Mozambique, has constructed a 100-square-meter Piri Piri Pepper Production Greenhouse with a drip irrigation system in Katembe Province, in cooperation with the Mozambique State Secretariat for Youth and Employment. As part of the project, a kitchen workshop for pepper sauce production was also established, and equipment support was provided.

The project implemented by TİKA aims to provide agricultural training on Piri Piri Pepper cultivation to women and young people living in the Katembe region, enabling them to produce the pepper sustainably.

In the first phase, the project is expected to directly benefit 20 women with a production goal of 1,000 bottles of pepper sauce within the first six months.

Distributed by APO Group on behalf of Turkish Cooperation and Coordination Agency (TIKA).