DealMakers AFRICA
Lagos-headquartered Beacon Power Services (BPS) has announced the closing of an undisclosed Series A financing round. The round was led by Partech and included participation by Finnfund, Gaia Impact and Proparco, along with previous investors Kaleo Ventures and Seedstars Africa Ventures, amongst others. BPS provides African utilities with data-driven solutions to manage the power grid, which are specifically designed to meet the unique needs of the continent’s power industry.
Proparco has renewed its partnership with NMB Bank through a commitment to a US$25 million facility package which includes a $15 million senior credit facility, a $5 million EURIZ portfolio guarantee plus a $5 million Trade Finance Guarantee. The funding will allow NMB to expand financing for exporters, agricultural SMEs and women in Zimbabwe.
Proparco has also announced a €5 million EURIZ facility for Stanbic Bank Zimbabwe to support long term finance for local Zimbabwean farmers.
Ghana’s Tendo Technologies, an online retail platform that empowers entrepreneurs, has announced the strategic acquisition of Shopa for an undisclosed sum. Shopa, which will be rebranded as Tendo Retail, provides commerce solutions to informal retailers across the West African country.
UK energy revenue management firm, SteamaCo, has merged with Nigerian digital energy solutions company, Shyft Power Solutions. Alongside the merger, there was also new funding round led by Equator VC and including Praetura Ventures and KawiSafi Ventures. Financial terms were not disclosed.
Kenyan edtech, Eneza Education has merged with Pakistan’s Knowledge Platform. The merged entity which will be headquartered in Singapore and operates as Knowledge Platform, will serve over 1,000,000 learners in Asia and Africa using mobile, web and SMS technologies.
DealMakers AFRICA is the Continent’s M&A publication
www.dealmakersafrica.com
