DealMakers AFRICA
Global multi-energy company TotalEnergies has acquired a 49% stake in integrated forest products company Compagnie des Bois du Gabon (CGG) following the exit of private equity firm Criterion Africa Partners. Financial details were undisclosed.
AIM-listed Kazera Global plc is to acquire a 71% stake in Great Lakes Graphite which owns three exploration licenses covering the Homa Bay and Buru Hill Rare Earth Elements projects in Kenya. The acquisition is for an aggregate £750,000, payable in three tranches. As part of the transaction, an option to acquire a 20% stake (of the 71%) will be granted to Caracal Investments for US$1 million. If within 18 months this is not exercised, current shareholders may take up the option.
EFG Hermes subsidiary valU, a BNPL lifestyle enabling fintech platform based in Egypt, has sold a minority (4.99%) stake to the Saudi Alhokair family for US$12,4 million.
Nairobi-headquartered SunFunder, a private debt management firm financing renewable energy projects in Africa and Asia, has been acquired by European impact investor Mirova. The deal will expand Mirova’s investment platform in emerging markets and drive its strategy to finance the environmental and energy transition.
EFG Hermes’ microfinance solutions Egypt-based subsidiary Tanmeyah has acquired Fatura, a provider of B2B e-commerce marketplace and digital financing services. The value of the stock and cash transaction was undisclosed.
Land Degradation Neutrality (LDN), an investment fund managed by Mirova, has acquired a minority stake in Moroccan Atlas Fruits Company. The new partnership will enable Atlas Fruits to accelerate is development by increasing its orchard cultivation area and thereby creating more jobs.
Thepeer, a Nigerian tech infrastructure startup has raised US$2,1 million in a seed round led by the Raba Partnership. The platform creates the technology infrastructure for businesses to easily integrate and enable them to support fast, direct and efficient transactions across businesses.
Lagos-based health tech Healthtracka with its at-home lab testing platform has raised US$1,5 million in seed funding from Hustle Fund and Ingressive Capital. Other participants in the round include Flying Doctors and Alumni Angels. The startup aims to fill the gap where infrastructure is lacking and, where due to the poor doctor-to-patient ratio regular checkups are an afterthought.
Ugandan fintech platform Tugende has closed a pre-series B investment round which will enable it to expand its asset financing and digital services to small businesses. The round was led by Partech Africa with other existing investors.
Fido, the Ghanaian fintech company, has raised US$30 million in a round led by private equity fund Fortissimo Capital with participation from Yard Ventures. In addition, the startup which extends credit via mobile phones, raised undisclosed debt funding in a series A round. Funds will be used to roll out new products and position it to scale its presence in Africa.
Egyptian AI tech startup Synapse Analytics has raised US$2 million in a pre-series A funding round. The startup aims at building trust between AI and the businesses trying to adopt machine learning in their operations through its automation platform Konan. The round was led by Egypt Ventures.
Greenage Technologies Power Systems, a Nigerian startup driving energy inclusion by manufacturing and distributing locally made solar energy equipment, has received a US$500,000 investment by Shell-funded impact investment company All On. The investment, a mix of equity and convertible debt, will be used to scale its manufacturing business enabling it to meet increasing demand.
VeendHQ, a Nigerian embedded fintech firm, has secured US$330,000 in a pre-seed investment round from participants Magic Fund, The Oak Capital, Future Africa, Berrywood Capital among others. The startup enables microlenders, banks and merchants to embed credit into multiple ecosystems. The investment will be used to expand the products offered and scale operations.
Egyptian digital logistics startup Khazenly, has raised US$2,5 million in seed funding in a round co-led by Arzan Venture Capital and Shorooq Partners. Proceeds will be used to develop Khazenly’s products and services and scale its existing facilities.
CrossBoundary Energy Access (CBEA), a financing facility for mini grids based in Kenya, has raised US$25 million in new funding from ARCH Emerging Market Partners, the Bank of America and the Microsoft Climate Innovation Fund.
Construction tech platform Jumba has secured US$1 million in a pre-seed funding round led by Enza Capital with participation from Seedstars International Ventures, Chandaria Capital, Future Africa, Logos Ventures, First Check Africa and several angel investors. The startup allows operators of hardware stores to restock in a seamless manner by connecting retailers with manufacturers. The funds will be used to scale the business to other cities in Kenya.
Boyot, a startup offering an end-to-end operating system for payments and financial services exclusively for the real estate market, has raised an undisclosed six-figure funding in a pre-seed round. The Egypt-based startup will use the fund, raised from a Kuwait-based real estate firm, to scale the business by expanding its client base, open an office in Kuwait and invest in its product technology.
Jodop, a Morocco-based on demand temporary staffing platform, has raised US$1 million in a funding round led by Azur Innovation Fund. Other participants include Plug and Play and several business angels. The startup will use the funding to scale its presence into new countries including Egypt and further improve its tech product.
Energy company Sodigaz has received a financing package from the International Finance Corporation (IFC) to boost access to cleaner and more reliable energy in Burkina Faso.
DealMakers AFRICA is the Continent’s M&A and corporate finance publication
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