DealMakers AFRICA
AT Ghana (formerly AirtelTigo Ghana) has sign a joint venture agreement with UK private equity firm, Hannam Investments. Financial terms were not disclosed, but under the agreement, Hannam will, among other things, invest in state-of-the-art technology and infrastructure upgrades to create a leading 4G mobile telecommunications network.
Africa Finance Corporation (AFC) has sold its 35% stake in Atlantic Terminal Services (ATS) to Yilport Holdings. ATS is the concessionaire for the expansion of Ghana’s Takoradi Port. The transaction results in AFC exiting its equity investment, however it will remain a lender to the project. Financial terms of the exit were not disclosed.
Hollard International has acquired a significant interest in Apollo Investments, the holding company of Kenya’s APA Insurance. Financial terms were not disclosed. Hollard’s existing footprint in Africa covers South Africa, Namibia, Mozambique, Zambia, Lesotho, Botswana and Ghana.
ASX-listed Belararox has signed a non-binding term sheet with Chemopharm Limited to acquire the Solwezi East and Chantente exploration licences in the Zambian Copperbelt. The tenements consist of over 17,800 hectares in the Central African Copper belt. The purchase price consists of cash, shares and unlisted options. Upon completion of the deal, Chemopharm would hold a 7.49% stake in Belararox.
Ghanaian fintech, Zeepay Ghana, has secured a US$2 million equity investment from Injaro Investment Advisors. The inaugural investment by the Injaro Ghana Venture Capital Fund (IGVCF) forms part of Zeepay’s current Series A.5 funding round.
Chapel Hill Denham’s Nigeria Infrastructure Debt Fund has agreed to provide solar-based internet service provider, Tizeti Network, with an undisclosed long-term senior debt facility. Tizeti currently serves over three million subscribers in Nigeria. The debt funding will be utilised to build new internet infrastructure and purchase additional equipment to expand its services.
British International Investment has committed US$26,5 million to AFEX, a leading commodities platform. AFEX currently operates over 200 warehouses in Nigeria, Kenya and Uganda and serves over 450,000 farmers. The investment will be used to build 20 additional modern warehouses in the three countries.
African Development Bank has approved a US$196,43 million loan to Namibia to implement the second phase of its Transport Infrastructure Improvement Project. The loan will cover 51.8% of the total project cost, with the Namibian government covering the remaining 48.2%. The project consists of, among other things, 207 kms of new rail track using concrete railway sleepers and new rails, the construction of 16 bridges and renovations to two existing stations.
Global Ventures, the Bridge Fund (Proparco and Digital Africa), Wrightwood Investments (UK) and other international funds have invested in Egyptian healthtech, Almouneer. The seed funding, totalling US$3,6 million, will primarily support the development and expansion of DRU-MEA’s first patient-centric, digitally-enabled lifestyle and diabetes management platform.
My Easy Transfer, a Tunisian fintech, has raised €400,000 from 216 Capital. The fintech was started in 2022 and aims to evolve its platform to meet all the payment needs of the diaspora in a single mobile app.
DealMakers AFRICA is the Continent’s M&A publication.
www.dealmakersafrica.com
