DealMakers AFRICA
Senegalese B2B e-commerce startup, Maad, has raised US$3,2 million in debt and equity seed funding to aid in its expansion plans. Ventures Platform, Seedstars International Ventures, Reflect Ventures, Oui Capital, Launch Africa, Voltron Capital and Alumni Ventures provided the US$2,7 million in equity, with Proparco and local banks providing the US$900,000 in debt.
QatarEnergy has signed a farm-in agreement with ExxonMobil to acquire a 40% participating interest in the Cairo and Masry Offshore Concession exploration blocks. ExxonMobil as operator, will retain the remaining 60%. Financial terms were not disclosed.
ASX and LSE AIM-listed Atlantic Lithium’s shares began trading on the Ghana Stock Exchange on Monday 13 May 2024. This is the first listing on the West African bourse in two years. The company did not raise any new capital through the listing of its entire issued capital of 649,669,053 ordinary shares on the GSE Main Market.
MNZL, an Egyptian fintech founded in 2023, has raised US$3,5 million in seed funding. The round was led by P1 Ventures, Localglobe and Ingressive Capital and also included 500 Startups, Flat6Labs, First Circle Capital, ENZA Capital, Beenok and other angel investors.
Spark+ Africa Fund has provided US$1,5 million in long-term quasi-equity financing to the Mauritius affiliate of ATEC to accelerate the rollout of its IoT-enabled eCook appliances across Africa.
DealMakers AFRICA is the Continent’s M&A publication
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