DealMakers AFRICA
Beltone Venture Capital has acquired a 20% stake in Egypt’s digital home and décor brand, ariika. The Series A investment will accelerate the brand’s expansion to Saudi Arabia.
BIO and EDFI AgriFI are co-investing €6 million in gebana Faso to enhance integrated and sustainable food supply chains in the region. gebana Faso is a subsidiary of the gebana Group and specialises in processing and exporting Fair Trade and Organic cashew nuts and dried mangoes from Burkina Faso.
PZ Cussons Nigeria has announced that PZ Cussons Holdings wants to buy out the other existing shareholders at ₦21 per share via a Scheme of Arrangement. The deal is subject to board, shareholder and regulatory approval. PZ Cussons has been present in Nigeria since 1899 and the move is aimed at strengthening and simplifying the Nigerian operations.
Btrust has acquired Nigeria’s Qala, which has been rebranded as Btrust Builders Programme.
Galileo Resources has entered into a joint venture agreement with Cooperlemon Consultancy in respect of the exploration for copper at large scale exploration license 28001-HQ-LEL situated in Northwest Zambia. A series of earn-in and exploration expenditure will see Galileo take a 65% stake in the joint venture.
Global Investments Holding Ltd has acquired a 30% stake in Eastern Company, a tobacco producer in Egypt. The sale will reduce the Holding Company for Chemical Industries’ stake from 50.9% to 20.9% and is part of the Egyptian government’s ongoing programme of privatising state-owned assets. The deal was valued at US$625 million.
Uganda’s Asaak has entered the Latin American market through the acquisition of FlexClub Mexico. The fintech did not disclose the value of the deal.
Nigeria’s Itana has raised US$2 million to push forward its plans to establish a digital free zone. The funding was provided by LocalGlobe, Amplo, Pronomos Capital and Future Africa.
AfricInvest has invested US$40 million in The British University in Egypt. This is one of the largest foreign direct investments in the education sector in the North African country. The funds will go towards the university’s expansion and transformation plans.
Renew Capital Angels has invested an undisclosed amount in Kenyan fintech FlexPay.
Kenyan crypto payments startup, Kotani Pay has closed a US$2 million pre-seed round led by P1 Ventures. Other investors include DCG/Luno and Flori Ventures.
Lagos-based fintech, Anchor, has secured US$2,4 million in a seed round led by Goat Capital. Other investors include FoundersX, Rebel Fund, Pioneer Fund, Y Combinator, Byld Ventures and Future Africa. Since launching in August 2022, the embedded finance fintech has processed more than $550 million in annualised total transaction volumes and achieved a 30% month-on-month growth in revenue.
Sehatech, an Egyptian health insurtech, has raised US$850,000 from A15 and Beltone Venture Capital. The funds will be used to grow the staff contingent and to invest in product development.
Moroccan edtech Smartprof has raised an undisclosed amount of funding from Digital Africa’s Fuze. Part of the funding will be used to help the company accelerate its expansion into West Africa.
To strengthen its ESG agenda, Safaricom, has announced a new multi-billion Sustainability Linked Loan with four banks – Standard Chartered Bank, Stanbic Bank, ABSA Bank and KCB. This is the largest ESG linked loan facility in East Africa and the first Kenya Shilling denominated sustainability linked loan in the market. The loan is valued at KES15 billion, which can be increased to KES20 billion by accordion.
DealMakers AFRICA is the Continent’s M&A publication.
www.dealmakersafrica.com
