GJO & Partners
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Rand Merchant Bank

Public data, unclaimed profile

Investisseur référencé à partir d'opérations publiées. Secteurs, pays, instruments et tickets affichés d'après ses opérations ; le fonds peut revendiquer sa fiche pour préciser sa thèse.

At a glance

Based on observed investment behaviour: 6 recorded deals

Investor type
Bank (inferred, not verified)
Capital type
Bank (inferred from profile)
Observed ticket
20.3 M$ – 137 M$, median 96 M$ (4 disclosed amounts)
Countries
South Africa (4), Kenya (1), Senegal (1)
Activities
Off-grid solar and solar kits (2), Clean cooking (1), Payments and mobile money (1)
Instruments
Senior debt (4)
Stages
Debt (4)
Recent activity
3 deals in 12 months, latest Jul 2026

Stated thesis versus observed behaviour

No stated thesis: the comparison is not possible.

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Describe your need: the target list shows, for each source of capital, why it fits and which deals prove it.

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Investment thesis

Criteria inferred from recorded deals: the fund has not stated its thesis yet.

Investment ticket
20.3 M$ – 94 M$*
Instruments
Senior debt*
Preferred sectors
Retail & distribution*, Energy*, Fintech*, Financial services*
Target geographies
South Africa*, Kenya*, Senegal*

* added from its deals

Stages (stated by the fund and from its deals)
Debt

Reference deals

Recent public deals: they say better than a thesis what the fund actually signs.

Bridgement

July 2026 · South Africa
Debt20.3 M$Senior debtFinancial servicesLead

Activity : SME finance

Bridgement, a South Africa-based fintech lender founded in 2016 by Daniel Goldberg, has secured ZAR 330 M (USD 20.3 M) in funding from Rand Merchant Bank (RMB) and Standard Bank to expand AI-powered lending to small and medium-sized enterprises (SMEs).

Co-investors Standard Bank

Source : weetracker.com

TFG (The Foschini Group)

April 2026 · South Africa
Debt555.556 M$Senior debtRetail & distributionCo-Lead

Co-investor alongside Standard Bank

Activity : Specialty retail

Instrument : ZAR 9bn refinancing; Standard Bank joint mandated lead arranger; RMB coordinator of the sustainability-linked overlay (August 2026)

Multi-brand retail group (South Africa, United Kingdom, Australia).

Source : corporateandinvestment.standardbank.comN1 · Primary source

SolarAfrica

February 2026 · South Africa
Debt94 M$Senior debtEnergyLead

Activity : Off-grid solar and solar kits

SolarAfrica is based in Centurion, Gauteng, South Africa.

Co-investors Investec

Source : launchbaseafrica.com

Wave

June 2025 · Senegal
Debt137 M$Senior debtFintechCo-Invest

Co-investor alongside British International Investment

Activity : Payments and mobile money

Wave, one of Africa’s most valuable startups, has raised a $137 million debt round to bolster its working capital and drive expansion across existing and new markets.

Co-investors Finnfund, Norfund

Source : techcabal.com

SolarAfrica

February 2025 · South Africa
98 M$EnergyCo-Invest

Co-investor alongside Investec

Activity : Off-grid solar and solar kits

SolarAfrica Lands $98M Boost for South African Solar.

Source : launchbaseafrica.com

KOKO

January 2024 · Kenya
Undisclosed amountEnergyLead

Activity : Clean cooking

Kenyan climate-tech startup has KOKO has raised an undisclosed amount of funding from Rand Merchant Bank (RMB).

Source : weetracker.com

In short

Rand Merchant Bank invests tickets ranging from 20.3 M$ to 94 M$, across the following sectors: Retail & distribution, Energy, Fintech, and Financial services, in the following areas: South Africa, Kenya, and Senegal. Check in 30 seconds whether your company fits these criteria.