DealMakers AFRICA
Turaco has acquired MicroEnsure Ghana (to be rebranded as Turaco Ghana) from MIC Global. Financial terms were not disclosed. The deal sees the tech-enabled insurance company expand its footprint in Africa and will now operate in four countries – Kenya, Uganda, Nigeria and Ghana.
Incofin’s Rural Impulse Fund has sold its 28% equity stake in Rwanda’s Unguka Bank to LOC Holdings. Financial terms were not disclosed. Incofin first invested in the microbank over a decade ago and has help the company increase its total assets from US$14 million to $29 million.
Kuwait’s Foreign Petroleum Exploration Company (KUFPEC) has acquired a 40% stake in Egypt’s Nile Delta offshore Block 3 from Shell’s BG International. No financial terms were disclosed.
Lupiya, a Zambian neobank, has announced a US$8,25 million Series A funding round. The round was led by Alitheia IDF Fund and included INOKS Capital SA and the German Investment Bank KfW DEG.
Nigerian auto-tech firm Fixit45 has raised US$1,9 million to drive growth in its existing business and expand into Kenya and Uganda. The pre-seed round was led by Launch Africa Ventures with participation from Soumobroto Ganguly, David DeLucia and a number of angel investors.
Ghanian agritech Complete Farmer has raised US$10,4 million in equity and debt in a pre-Series A. The $7 million in equity was raised from The Acumen Resilient Agriculture Fund, Alitheia Capital via its Munthu II Fund, Proparco, Newton Partners and VestedWorld Rising Star Fund. Sahel Capital’s SEFAA Fund, Alpha Mundi Group’s Alpha Jiri Investment Fund and Global Social Impact Investments provided the $3,4 million debt funding.
Automotive technology platform Mecho Autotech has secured a US$2,4 million pre-Series A funding round. The Nigerian company raised the funds from Global Brain Corporation, Ventures Platform and Uncovered Fund.
Côte d’Ivoire SaaS e-commerce platform ANKA has raised a US$5 million pre-Series A extension round of debt and equity led by the IFC with participation from Proparco and the French Public Investment Bank. The $3,4 million equity investment from the IFC marks its first investment into the African creative sector.
DealMakers AFRICA is the Continent’s M&A publication.
www.dealmakersafrica.com
