DealMakers AFRICA

Centum Investment Company has entered into a binding agreement with Access Bank for the proposed purchase by Access Bank of Centum’s entire 83.4% equity stake in Sidian Bank for KES4,3 billion. In due course, Sidian will be merged with Access Bank’s subsidiary in Kenya. The transaction is subject to regulatory approvals in Nigeria and Kenya.

Montage Gold, the Canadian precious metals exploration and development company, is to acquire 100% interest in the Mankono-Sissédougou Joint Venture Project in Côte d’Ivoire. The deal, with Barrick and Endeavour Mining, is for a total purchase consideration of C$30 million involving cash and shares.

Swiss-based Holcim’s subsidiary Associated International Cement is to dispose of its 76.45% stake in Lafarge Cement Zimbabwe to resources firm Fossil Mines for an undisclosed sum.

Kuvimba Mining House, Zimbabwe’s state mining vehicle, is to acquire the 50% shareholding in Great Dyke Investments from Afromet JSC. Financial details were undisclosed.

Proparco, a development finance institution and the private sector financing arm of French AFD Group, is to make an equity investment of US$10 million into MUA, the SEM-listed insurer. The investment backs the Mauritian insurer’s regional growth ambitions by further strengthening its financial capacity to improve insurance overage and increase market share. MUA has operations in Mauritius, Kenya, Uganda, Rwanda, Tanzania and Seychelles.

GOMYCODE, a Tunisia-based edtech startup, has raised US$8 million in a Series A round led by Proparco and AfricaInvest. The funds will be used to scale tech education across the MEA region.

Nigerian multi-channel retail company ShopEX has received a US$400,000 investment from South African venture capital firm HAVAÍC. The retailer mobilises a combination of traditional and digital channels to market, sell and distribute successful and global brands in Nigeria and other African markets. The capital injection will allow ShopEX to scale its presence into new markets.

SparePap, a Kenyan digital after sales marketplace, has secured funding from Mobility 54, Toyota Tsusho Corporation’s venture capital arm. The app provides automobile owners with vetted, competent, and trusted mechanics on demand and the ability to purchase replacement parts.

Egypt-based fintech platform ADVA has raised an undisclosed sum in a seed round from Sawari Ventures. The six figure investment will be used to expand its product offering which provides customers with services in health, education and insurance among others.

Insurtech startup Nice Deer has raised US$1 million in a pre-seed funding round led by DisrupTech Ventures. The platform has developed a comprehensive integrated digital ecosystem for the healthcare industry in Egypt, facilitating insurance and repayment of insurance claims between healthcare providers, health insurance companies and beneficiaries.

Klash, the Nigerian cross-border African commerce platform provider, has raised an additional US$2 million in a total seed fund round worth US$4,5 million. The proceeds will be used to expand into a further five African countries in 2022 and relaunch its consumer app – renamed KlashaCart, an app that allows consumers to shop from participating international merchants online and in African currencies.

Nigerian digital lending platform Indicina, has raised US$3 million in a round led by Target Global with participation from Greycroft and RV Ventures. Indicina uses data to determine the financial status and potential loan eligibility of potential borrowers. The funds will be used to accelerate expansion into other African markets and develop new products for consumer credit recommendations.

WafR, a Morocco-based fintech and rewards startup, has raised US$455,000 in a funding round supported by Launch Africa Ventures, First Circle Capital and WeLoveBuzz among others. The application enables retail brands to broadcast smart promotions to retailers. The funds will be used to increase its network of retailers and expand its current team.

DealMakers AFRICA is the Continent’s M&A publication
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