DealMakers AFRICA

Zimbabwean financial services group FBC Holdings (FBCH) has entered into an agreement to acquire Standard Chartered Bank’s business in Zimbabwe. As part of the agreement, FBCH will also acquire the economic interest in Africa Enterprise Network Trust whose main asset is a 20.7% stake in Mashonaland Holdings, a property investment company. In April 2022, Standard Chartered announced that it would divest from several markets in Africa.

Barrel Energy, a US-based company using a complete lifecycle approach to meet the soaring global demand for lithium-ion battery technology, has signed an agreement with Kokanee Placer Two to acquire the Titan X Lithium Project in Tanzania. Financial details were undisclosed.

Egyptian healthtech startup Rology, a teleradiology company operating in the Middle East and Africa, has acquired Arkan United, a teleradiology provider headquartered in Jeddah, Saudi Arabia. The deal will give Rology and its AI-assisted platform a foothold in the Saudi market. The value of the transaction was not disclosed.

French firm Groupe Berkem, a leading player in bio-based chemistry, has signed a memorandum of understanding for the creation of a joint venture with Groupe Dolido, a pan-African player in the polyurethane foam, bedding and industrial joinery sectors. The JV, which will be held 49%:51% by Berkem and Dolido respectively, will set up an alkyd resin production and sales site in Côte d’Ivoire. With a total investment of €5 million, the plant will supply neighbouring countries such as Ghana, Togo, Burkina Faso, Mali, Guinea, Niger and Liberia as well as European countries.

Nigerian end-to-end logistics platform Haul247, has raised US$3 million in a seed round led by Alitheia Capital’s uMunthu Fund with Investment One contributing $1 million in debt funding. The startup connects businesses to haulage and warehousing assets and manages internal processes, from tracking shipments to asset utilisation. The new investment will be used to scale market share and double the number of multinationals on its platform.

African startup Helium Health has raised US$30 million in Series B funding. A provider of full-service technology solutions for all healthcare stakeholders in emerging markets, the Lagos-headquartered healthtech will use the funds to drive growth in its product offerings HeliumDoc, HeliumOS and HeliumCredit. Investors include Capria Ventures, Angaza Capital and Flatworld Partners. Existing investors who participated in the round included Global Ventures, Tencent, Ohara Pharmaceuticals, LCY Group, WTI and AAIC.

The International Finance Corporation (IFC) has announced a number of facilities: a US$10 million trade finance facility for Banque Populaire de Mauritanie; two loans totalling €50 million to subsidiaries of the Shanghai Fosun Pharmaceutical Group (Côte d’Ivoire); a $7,5 million investment in Dembesh Hotel in Juba, South Sudan and a $500 million financing package to Nigerian company BUA Cement.

DealMakers AFRICA is the Continent’s M&A publication.
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