DealMakers AFRICA
Adiwale Fund I has acquired a minority stake in Senegalese consumer goods distribution company, Global Action. Financial terms were not disclosed.
The Minerals Income Investment Fund of Ghana (MIIF) acquired a 6% stake in the Ewoyaa Lithium Project for US$27,9 million plus 6% of the ongoing exploration and development costs. The agreement also saw MIIF take an c.3% stake in Atlantic Lithium for $5 million. Piedmont Lithium and Atlantic Lithium are partners in the project.
Tana Africa Capital has exited its investment in International Education Group (IEG) to Globeducate. No financial terms were disclosed. IEG was established in 2015 and is now a network of four schools – three in Morocco and one in the Netherlands.
Egypt’s National Service Projects Organization (NSPO) has acquired up to 24% in three Bashay Steel subsidiaries for EGP10 billion. The stakes in Egyptian Sponge Iron and Steel Company, Egyptian American Steel Rolling Company and International Steel Rolling Mills were acquired on the over-the-counter market of the Egyptian Stock Exchange.
Oryx Energies S.A. has strengthened its footprint in Senegal, where it has been present since 1989, by acquiring a majority stake in Puma Energy Senegal S.A. for an undisclosed sum. Puma Energy Senegal will be renamed Oryx Gaz Sénégal S.A.
WhoGoHost, a Nigerian web hosting company, has acquired cloud communications startup, SendChamp. The value of the deal was undisclosed but was settled by way of cash and equity.
Uganda’s agri-loan startup, Emata, has secured a US$2,4 million seed round made up of US$800,000 in equity and $1,6 million in on-lending capital. Investors in the round include Norrsken, Zephyr Acorn, African Renaissance Partners and Draper Richards Kaplan Foundation.
Kenyan fintech Lipa Later has closed a KES500 million private debt placement with undisclosed lenders. The company announced that it was looking to raise an additional KES2 billion in equity and debt to help with its growth plans.
DealMakers AFRICA is the Continent’s M&A publication.
www.dealmakersafrica.com
