DealMakers AFRICA
- Holmarcon, a Moroccan insurance and finance group, and Credit Agricole SA, a French banking institution, have signed an agreement whereby Homarcom will acquire a majority stake in Credit du Maroc. The acquisition is part of Holmarcon’s strategic vision to build an integrated financial centre with a pan-African vocation. The transaction will be executed in two stages – an initial 63.7% stake followed by a further 15% stake.
- Eden Life, a home concierge services scheduling platform, headquartered in Lagos, has acquired Lynk, a platform connecting households and businesses with verified domestic workers, artisans, and blue-collar professionals in Nairobi. Financial details of the transaction were undisclosed.
- Sungara Energies, a UK entity focused on sub-Saharan African upstream oil and gas, has entered into an agreement with state-owned Sonangol Pesquisa E Produção, to purchase a 10% participating interest in Block 15/06 offshore Angola. The deal is worth US$500 million including a contingent payment of up to US$50 million.
- Hello Tractor, a Nigerian tractor-booking platform, has raised US$1 million in funding from Heifer International. The platform utilises a tracking device and software that allows farmers and tractor owners to book connected tractors using their phones. The funds will be used to provide loans for tractor purchases which can be repaid from revenues earned by leasing the tractors to local farmers.
- African Finance Corporation, an infrastructure solutions provider, has received US$35,5 million in equity investments from the Seychelles Pension Fund, the Government of Sierra Leone and the Ghana Infrastructure Investment Fund.
- Africa GreenCo, a renewable energy trader, has raised US$15,5 million from InfraCo Africa, the Danish Investment Fund for Developing Countries and the EU-funded Electrification Financing Initiative. The funds will be used to scale GreenCo’s innovative offering as Zambia’s first renewable energy buyer and services provider.
- Norebase, a Nigerian-based trade technology firm, has secured US$1 million in a pre-seed funding round led by Samurai Incubate and Consonance Investments. Funds will be used to build the single digital infrastructure and technology tools to ‘power trade across the continent’ and to broaden its trademark registration technology stack.
- Westa.solar, a Nigerian provider of solar power solutions in West Africa, has secured a US$1,58 million mezzanine loan to develop solar projects in the country. The loan which was secured from the Development Bank of Austria, will be used to accelerate the development of solar projects and to reduce energy costs and emissions of commercial and industrial customers.
DealMakers Africa is the Continent’s M&A publication.
