DealMakers AFRICA
Power Brands, the parent company of Céréalis a Tunisian producer of salted snacks and baked goods, has received a significant investment from Admaius Capital Partners. The undisclosed investment made via its Virunga Africa Fund 1, will be used to scale the branded FMCG platform through the combination of organic growth and selective acquisitions.
Helios Investment Partners has entered into an agreement to acquire a majority stake in Maroc Datacenter, a carrier neutral data centre in Morocco.
Pearl Capital Partners has invested in Kampala-based agro-processing company Newman Foods via its Yield Uganda Investment Fund. The undisclosed investment is a blend of equity and quasi-equity.
Moroccan group Akwa Africa is set to acquire TotalEnergies‘ fuel distribution subsidiary in North West Africa’s Mauritania. No financial details were disclosed.
Madison Metals, an upstream mining and exploration company focused on sustainable uranium production in Namibia and Canada, has entered into a binding agreement to acquire a 90% direct interest in additional mining and exclusive prospective licences in Erongo uranium province.
TotalEnergies has completed the joint acquisition with ConocoPhillips of the 8.16% interest held by Hess in the Waha Concessions in Libya. Following the close of the transaction, TotalEnergies’ stake will increase to 20.41%
Stable Foods, the Kenyan agri-tech startup, has raised US$600,000 in funding from Acumen Resilient Agriculture Fund and Mercy Corps Ventures. The funds will be used to develop its climate-smart smallholder food production system.
Beekeeper Tech, the Tunisia-based agritech, has raised US$640,000 in a round led by 216 Capital Ventures. The startup creates and sells smart connected equipment for beekeepers. Funds will be used to accelerate deployment in new regions and expand its position in MENA.
Egypt’s Blnk, a fintech startup enabling instant consumer credit at point-of-sale, has raised US$23,7 million in equity ($12,5 million) and debt funding ($11,2 million) together with a $8,3 million securitised bond issuance underwritten by the National Bank of Egypt and Banque du Caire. The funds will be used to support further development of Blnk’s AI-powered lending infrastructure and the financing of its growing portfolio of customers. The equity raise was led by Emirates International Investment Company and venture capital firm Sawari Ventures with participation from angel investors.
BasiGo, an early-stage e-mobility start-up looking to revolutionise the public transportation sector by providing public transport bus owners with a cost-effective electric alternative to diesel, has raised US$6,6 million. The new funding round was led by Mobility54, Trucks VC and Novastar Ventures with participation from Moxxie Ventures, My Climate Journey, Susquehanna Foundation, Keiki Capital and OnCapital. Funds will be used to acquire new locally manufactured electric buses, charging infrastructure through the company’s Pay-As-You-Drive financing model.
DealMakers AFRICA is the Continent’s M&A publication
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