DealMakers AFRICA

Developer, owner and operator of commercial and industrial renewable energy systems in Africa, CrossBoundary Energy (CBE), has received a US$40 million equity investment from KLP Norfund Investments. The funds will be used by CBE to scale its investments in renewable energy solutions across Africa.

Proparco, the Development Finance Institution partly owned by the French Development Agency, together with the East African private equity fund Ascent Rift Valley Fund II, has acquired a majority stake in Kenyan healthcare facility Diani Beach Hospital. Financial details were undisclosed.

Nigerian full-service fintech and banking infrastructure provider Bloc, has acquired Orchestrate (Getwallets), a provider of multipayment options. The undisclosed cash and equity deal will boost Bloc’s capacity to offer fintech infrastructure such as online payment, subscription management, virtual wallets, bill payments and invoicing.

Spedag Interfreight, an African focused international freight forwarding expert in East Africa, has been acquired by CEVA Logistics for an undisclosed sum.

Investissuers & Partenaires (I&P) through its fund IPAE 2 has invested in DELTA SA, a Senegalese company specialising in the sanitation and construction. The support will strengthen the company’s governance, organisational and technical capacities plus its regional expansion objectives.

Swvl, a tech-enabled mass transit solutions provider founded in Egypt, has announced the acquisition of Mexico-based Urbvan Mobility.

Solar Panda, a Kenyan manufacturer and retailer of pay-as-you-go solar household systems, has secured US$8 million in series A funding to be used to scale activities across the country. The funding round was led by Oikocredit and EDFI ElectriFI.

SolarTaxi, a Ghanaian e-mobility company, has raised undisclosed funding from Persistent Energy, an investor in the off-grid and e-mobility sector in sub-Saharan Africa. Funds will be used as working capital to expand the business.

Creditchek has raised US$240,000 in a funding round led by Atom Capital with participation from Aidi Ventures and others. The investment will be used to build the credit data infrastructure to assess and verify creditworthiness of customers.

Nigerian decentralised finance platform Stakefair (formerly BetDemand) has raised US$670,000 in pre-seed funding from investors which include Adaverse, Nestcoin, Kepple Africa Ventures, Canza Finance and Voltron Capital among others. The startup which has launched a no-loss staking platform will now expand its services to include a business-2-business API service.

DealMakers AFRICA is the Continent’s M&A publication
www.dealmakersafrica.com