DealMakers AFRICA
Moroccan fintech, PayTic, has closed a US$4 million seed extension round led by Cathay AfricInvest Innovation Fund. Other investors in the round included Build Ventures, Axian Group, Mistral, Island Capital Partners and Concrete.
Sahel Capital, through its Social Enterprise Fund for Agriculture in Africa (SEFAA), has provided a US$500,000 working capital loan to TAFALO, a Côte d’Ivoire-based agribusiness with operations in Duonfla, Odienné, Touba, Koro and Korhogo.
Verdant Capital Hybrid Fund completed an additional investment of US$4.5 million in LOLC Africa Singapore (LOLC Africa). This follows an initial investment of US$9 million in LOLC Africa, in June 2023. Both investments are structured as holding company loans, and they are being directed towards LOLC Africa’s operating lending subsidiaries in Zambia, Rwanda, Egypt, Kenya, Tanzania, Nigeria, Malawi, Zimbabwe, Ghana, and the Democratic Republic of Congo.
Côte d’Ivoire’s Djamo has raised a US$17 million equity round led by Janngo Capital and including SANAD Fund for MSMEs, Partech, Oikocredit, Enza Capital and Y Combinator. The company’s last capital round of $14 million was in 2022 and the founders say that the company has grown its revenue 5x since then. Having recently branched out into Senegal, the digital banking startup now serves over 1 million customers across the two Francophone West Africa countries.
On 25 April, the Sanlam Kenya Plc Rights Offer will open following approval by shareholders, the Capital Markets Authority, the Nairobi Securities Exchange and the Insurance Regulatory Authority. The company is looking to raise KES2.5 billion by way of allotment of up to 500 million ordinary shares at a price of KES 5.00 per share.
Raxio Group has announced US$100 million in financing from the International Finance Corporation (IFC). The debt funding from IFC will help Raxio double its deployment of high-quality colocation data centres within three years, addressing growing demand in underserved markets across the continent. Raxio is developing a sub-Saharan African regional data centre platform in countries including Ethiopia, Mozambique, the Democratic Republic of Congo, Côte d’Ivoire, Tanzania, and Angola.
DealMakers AFRICA is the continent’s quarterly M&A publication
www.dealmakersafrica.com
