DealMakers AFRICA
Pangolin Diamonds, listed on the TSX.V exchange, is to acquire from Amulet Diamond Corporation, Amulet Diamond (Botswana) for a nominal consideration. The entity holds certain plant and equipment assets relating to the BK11 Mine located in Letlhakane, Botswana.
Kasada Hospitality Fund, a Qatari-backed private equity fund, has acquired the Crowne Plaza Hotel in Nairobi for c. US$38,8 million from Golden Jubilee.
In 2014 AfricInvest acquired a 30% stake in Abidjan-based financial holding company Bridge Group West Africa (BGWA), via its funds, AfricInvest II and AfricInvest Financial Sector Fund. In a deal, the value of which is undisclosed, the private equity firm has successful exited the investment in BGWA, to majority shareholder Teyliom Finance.
Caledonia Mining Corporation plc has signed an agreement to purchase Bilboes Gold, situated outside Bulawayo in Zimbabwe for US$53,28 million to be settled by the issue of 5,123,044 Caledonia shares representing c. 28.5% of Caledonia’s share capital.
Kazera Global plc has secured US$7,5 million in investment from Namibian-based Hebei Xinjian Construction. The investment which consists of a mixture of cash, machinery and services with a minimum of US$2,5 million payable in cash will give Hebei a 49% stake in a new SPV to be formed by Kazera’s marketing, sales and export subsidiary African Tantalum, which handles all lithium production from the wholly owned mine at Tantalite Valley in Namibia.
The Fashion Kingdom (TFK), an Egypt-based fashion marketplace which provides a platform for local and international brands, has raised US$2,6 million in a seed funding round. The round was co-led by Egypt’s venture capital firm CVentures, and A15, MENA’s leading early-stage venture capital firm. Proceeds will be used to accelerate growth, build scalable technology and strengthen the team.
Hashgreed, a Lagos-based non-fungible token (NFT) marketplace for creative, commerce and asset tokenisation, has raised US$1 million in funding. The platform which also hosts DeFi and WorkFi solutions, will use the funding to scale its presence across Nigeria and the region.
Cartona, a Cairo-based B2B platform digitising and empowering all stakeholders of Egypt’s traditional trade market, has closed a US$12 million Series A fundraise led by Silicon Badia with participation by Arab Bank Accelerator, Sunny Side Ventures, Global Ventures and Kepple Ventures. Proceeds will be used to scale Cartona’s expansion across Egypt, grow its product, technology and services.
Bizao, a Côte d’Ivoire fintech startup, facilitating payments for both local and international businesses operating in Africa by enabling clients to collect and issue payments online and in-stores via point-of-sale, has raised €8 million in Series A funding. The round was led by AfricInvest, Adelie and Seedstars Africa Ventures. The funds will be used to accelerate expansion across the continent and to scale its offering.
The International Development Finance Corporation, which partners with the private sector to finance solutions for challenges facing emerging markets, has committed US$280 million in financing for Nigeria’s Access Bank plc. The loan will assist in addressing the financing gap for small- and medium-sized enterprises and so advance financial inclusion in Nigeria.
DealMakers AFRICA is the Continent’s M&A publication
www.dealmakersafrica.com
