DealMakers AFRICA
Acasia Ventures has led a seven-figure pre-seed investment in Egyptian fintech startup, Balad. Launch Africa, Future Africa, V&R, Magic Fund, First Circle, Sunny Side and several family offices also participated in the remittance-focused, fintech’s first funding round. Founded in 2022, the company will use the investment to launch the remittance platform, develop platform technology, hire new staff, obtain licenses and complete integrations with its banking partner.
Canadian miner Fortuna Silver Mines has offered to acquire 100% of ASX-listed Chesser Resources in a share swap deal that equates to a fully diluted equity value of c.A$89 million. The addition of Chesser’s Diamba Sud Gold Mine will expand on Fortuna’s existing African footprint in Burkina Faso and Côte d’Ivoire.
Egypt’s Helpoo has received an undisclosed investment from Saudi Arabia’s Morni. The deal forms part of a planned US$10 million investment in the Egyptian market by 2030, announced last year. Helpoo is a tech-enabled service app that provides motor vehicle insurance inspections, insurance claim management and road assist services.
The Central Bank of Kenya announced that Cactus Cantina Investments, a Kenyan subsidiary of Delaware-based fintech Shara Inc, had acquired a 55.8% controlling stake in Maisha Microfinance Bank. Financial terms were not disclosed.
The UAE’s Khazna Data Centers and Egypt’s Benya Group have announced a joint venture to build Egypt’s first hyper-scale data centre at the Maadi Technology Park. The new US$250 million state-of-the-art data centre is expected to have 25 MW of IT load capacity.
MG Health has raised US$18 million from international investors. The Lesotho based cannabis cultivator plans to increase its production and scale up exports to countries such as Germany, Australia, Poland and Israel.
Orascom Investment Holding has invested in e-mobility platform, BluEV. The company manages a smart network of battery swapping stations which enables sustained urban transportation by promoting the decarbonisation of two- and three-wheel vehicles. The value of the investment was not disclosed.
DealMakers AFRICA is the Continent’s M&A publication.
www.dealmakersafrica.com
