DealMakers AFRICA
UK-based power company Bboxx has acquired PEG Africa, a pay-as-you-go solar energy company in West Africa. Via its financing model, it enables customers to replace polluting fuels spend with solar energy spend. PEG has recently expanded its financing deployment capabilities to include solar water irrigation and bigger solar power systems for SMEs. The acquisition consolidates Bboxx’s position as a leading source of clean energy solutions in Africa with over 35 MW of installed solar capacity.
Eni, the Italian energy company, has acquired from BP, its upstream business including its interests in the gas-producing In Amenas and In Salah concessions in Algeria. Financial details were undisclosed.
Pwani Oil Products, a Mombasa-based manufacturer, has acquired Kartasi Industries, a manufacturer of stationery products based in Nairobi, through a newly created entity called Kartasi Products. The deal, the value of which was undisclosed, represents a strategic move by Pwani to diversify its business.
Enppi, a provider of fully integrated engineering, procurement, construction supervision and project management services, and Petrojet, a state-owned construction arm of the Egyptian Petroleum sector, have acquired Star Gas’ 50% stake in the International Company for Drilling (ICD) for US$117,6 million. The ICD manufactures, assembles and maintains covers and conducts which regulates pipes. Following the closure of the deal, Enppi and Petrojet will each hold a 40% equity stake in ICD with the remaining 20% owned by existing shareholder South Valley petroleum.
Nigerian Metaverse Magna, a crypto gaming platform, has secured US$3,2 million in seed funding from investors Wemade, Gumi Cryptos Capital, HashKey, Tess Ventures among others. The funding will be used for expansion of the WEMIX ecosystem in Africa.
NowNow, a fintech platform based in Lagos, has raised US$13 million in a seed round led by NeoVision Ventures, and India-based DLF Family Office. The funds will be used to grow its platform, team and marketing capabilities.
el-dokan, a specialist in enterprise e-commerce solutions in MENA, has successfully secured US$550,000 in a pre-seed round led by local and regional investors including Flat6Labs, EFG EV, Hala Ventures and 500 Global. The investment will be used to increase market share.
3atlana, an Egypt-based car service app, has closed a six-figure seed round from Ghabbour Auto, a local automotive company. Funds will be used to strengthen its AI system.
Carzami, an online retailer for quality used cars and vehicle financing, has closed a pre-seed round led by Contact Financial Holding. Together with an inventory financing facility, Carzami will use the funding to launch its innovative model for a digital car dealership which provides transparency and convenience.
Leading Edtech platform in the MENA region, Emonovo, has raised an undisclosed bridge round by strategic angel investors from the US, Europe and MENA and a follow-on investment from Flat6Labs. The investment will be used to boost the new brand strategy and fuel growth in university onboarding and student recruitment through the platform.
Duplo, a Lagos-based platform digitising payment flows for African B2B enterprises, has raised US$4,3 million in a seed funding round. The capital injection from Liquid2 Ventures, Tribe Capital, Y Combinator among others, will be used to launch new products and expand into new business verticals in Nigeria.
All On, an impact investment company has invested £1 million in Mobile Power, a Nigerian alternative power company. The funds will be used to increase growth of All On’s pay-per-use battery sharing platform MOPO. The MOPO offering removes the product acquisition challenge from the equation for underserved homes and micro businesses in Nigeria by empowering them to secure the energy only when needed by renting 50Wh-1000Wh lithium-ion batteries for 24-hour periods.
DealMakers AFRICA is the Continent’s M&A publication
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