DealMakers AFRICA

Nama Holdings, a subsidiary of Moroccan alternative investment firm CDG Invest, has taken a minority equity stake in Vita Couture, an industrial platform in the clothing sector. Vita Couture provides international and national clients with a complete ‘one-stop-shop’ service covering the entire ready-to-wear clothing production supply chain.

Marula Mining, an African focused mining and exploration investment company listed on the LSE, has entered into a binding agreement with Tanzanian mining company Kusini Gateway Industrial Park to secure a 73% commercial interest in the Bagamoyo Graphite Project. The project extends over approximately 180 hectares and comprises 22 granted graphite mining licenses in Tanzania. The licenses are valid for seven years. Under the terms of the agreement, Marula will fund (undertaken in two phases) all exploration and development costs through to commencement of commercial graphite mining and processing operations.

Marsh, a subsidiary of NYSE-listed Marsh McLennan, is set to acquire a majority stake in Moroccan insurance broker Beassur Marsh. Prior to the announcement Marsh held a minority stake in the business which it acquired in June 2019. Transaction details were undisclosed.

Diamond Fields Resources (DFR) and TSX-listed company is to dispose of its Namibian diamond assets to Jean Boulle Diamond Mines. As consideration for the sale of its Namibian Concessions, DFR will receive an initial cash consideration of US$150,000, annual cash payments of $100,000 and a 1% royalty of net sales.

CFI Financial, a multi-asset brokerage firm, has acquired Egyptian brokerage firm El Mahrousa. The deal bolsters CFI’s position in the Middle East and East Africa region. Financial details were not disclosed.

The Competition Authority of Kenya (CAK) has approved two M&A transactions. It announced the approval of the proposed acquisition of a 20% stake in Credit Bank plc by Shorecap III unconditionally. Credit Bank operates in Kenya through 17 branches offering services such as personal banking insurance intermediary services, trade finance, insurance premium financing, SME and corporate banking. In a second notice, CAK approved the acquisition of a majority stake in Ranfer Teas (Kenya) by Akbar Brothers. Prior to the acquisition, Ranfer had a minority stake in the firm which exports tea to South Africa, Egypt, Pakistan, US, Europe and Sri Lanka.

Orda, the Nigerian food-tech startup has raised US$3,4 million in a seed round led by FinTech Collective and Quona Capital. The cloud-based restaurant operating system offers services to small, independent customers via access to various software features, including order management, intergradations with food aggregators and delivery platforms. Funds will be used to add more functionalities to the platform particularly around financial products.

Djamo a personal finance company based in Abidjan, Côte d’Ivoire, has raised US$14 million in equity funding. Funds will be used to expand it footprint into new markets and to scale its service offering. The round was co-led by Enza Capital, Oikocredit and Partech Africa with participation form Janngo Capital, P1 Ventures among others.

Crypto and saving platform Ejara has raised US$8 million in a Series A round co-led by London-based venture capital firm Anthemis and crypto-focused fund Dragonfly Capital. The Cameroonian fintech will use the funds to broaden its customer base in Francophone Africa.

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