DealMakers AFRICA

Yellow Card, the largest and first licensed Stablecoin on/off on the African continent, has announced the closing of a US$33 million Series C equity fundraise. The round was led by Blockchain Capital and included Polychain Capital, Third Prime Ventures, Castle Island Ventures, Block Inc, Galaxy Ventures, Blockchain Coinvestors, Hutt Capital and Winklevoss Capital.

Kenyan Direct Air Capture startup, Octavia Carbon, announced a US$3,9 million equity seed round plus $1,1 million in carbon financing. The funding will be used to launch Project Hummingbird by December – the first DAC+Storage facility in the southern hemisphere. The round was co-led by Lateral Frontiers and E4E Africa and also included Catalyst Fund, Launch Africa, Fondation Botnar and Renew Capital.

AAIC Investment has invested an undisclosed sum in Ghanaian startup, BIMA. The e-heath firm offers affordable insurance products and digitalhealth services for low income and under-served populations in emerging markets.

Eqyptian micromobility platform, Rabbit Mobility, has finalised a US$1,3 million fundraise led by 500 Global and Untapped Global. The round also saw participation by several angel investors. The company is now looking to expand to other North African markets, starting with Morocco.

AfricInvest and Proparcpo have approved financing for Lapaire Glasses SA in Côte d’Ivoire. The optical retail chain that offers quality eyewear at a fair price in East and West Africa has secured US$2,5 million from AfricInvest and €450,000 from Proparco, through its Bridge by Digital Africa facility.

AuKing Mining has announced the sale of its remaining non-core Prospecting Licenses at Monyoni in central Tanzania. Moab Minerals will acquire the Licenses for A$175,000.

I&M Group’s board has approved a subscription agreement with East Africa Growth Holdings for the subscription of up to eighty-six million, five hundred thousand (86,500,000) new shares in the Group (c.4.97% stake) at a subscription price of KES48.42 per share.

Blaze Minerals has reached agreement with Gecko Minerals to acquire a 60% stake in Gecko Minerals Uganda, the legal and beneficial owner of the Ntungamo and Mityana Projects in western and central Uganda. The agreement also includes an option to acquire the remaining 40% interest within a two-year period. The purchase will be settled through the issue of 625 million fully paid Blaze ordinary shares.

DealMakers AFRICA is the Continent’s M&A publication
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