Who’s doing what in the African M&A space?

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Who’s doing what in the African M&A space?

Published Date: 2019-04-12 | Source: DealMakers | Author: Marylou Greig | Comments

Who’s doing what in the African M&A space?

DealMakers AFRICA

  • Devenish the Northern Ireland agri-tech group, has announced a £1,7 million investment in Sidai Africa, a Kenyan sustainable farming firm set up by the Bill Gates Foundation. Sidai supplies crop and livestock services to farmers throughout Kenya, reaching some of the country's most remote areas. The investment will assist the company to expand its distribution network, launch new products and reach more farmers across the country.
  • Contango Holdings plc has entered into a share purchase agreement with Consolidated Growth Holdings for the acquisition of its interest in the Lubu coalfield project. The company will pay the £6,5 million price tag by issuing 128,8 million shares at a price of 5 pence per share.
  • AgDevCo an impact investor specialising in agribusiness investments in sub-Sahara Africa, has closed a $3 million mezzanine loan with Minimex, a maize milling company in Rwanda. The investment will allow Minimex to increase its capacity and ramp up purchases from tens of thousands of maize farmers across the country.
  • Britam Kenya's largest insurance company, has announced its intention to acquire an undisclosed stake in Tiserin Capital. Tiserin is a private equity firm managing the Tiserin Capital Fund which invests in principally in East African companies but also in Mozambique and South Africa, with enterprise values of less than $50 million. The fund focuses on Agribusiness, Fast Moving Consumer Goods, Food Retail, Healthcare and the Technology sector.
  • Kalahari Metals, a subsidiary of Metal Tiger the AIM -listed investor providing financial and business support to companies to maximise the value of their natural resource interests, has signed a binding agreement to acquire 100% of Resource Exploration and Development's subsidiary Kitlanya. Kitlanya owns five recently granted exploration licences in the prospective Kalahari Copper Belt.
  • Emerson, the global technology and engineering company, acquired KnowlegeNet software from Tunisia-based Integration Objects. The company's analytics application software works to accelerate digital transformation initiatives for process and hybrid industries.
  • Vast Resources the AIM-listed mining company, has disposed of its noncore 50.01% interest in Ronquil Enterprises to Southern African Trade Finance. Ronquil is the holder of the company's Zimbabwe gold assets. The company has also disposed of the remaining 25.01% economic interest in the Pickstone Peerless gold mine and associated assets which includes the Eureka gold mine.
  • Actus Education the largest private school chain in Sweden, has acquired Riara Group of Schools in its endeavour to invest in the growing education sector in Kenya and East Africa. Financial details were undisclosed.
  • Kudi, the Nigerian fintech startup, has raised $5 million in a Series A funding round. The proceeds will assist the online payments company to expand its agent network and products. The funding round was led by Partech Africa Fund. Kudi's mission is to make financial services accessible and affordable for all African - 90% of all transactions in Africa still rely on cash.
  • Kevian Kenya the maker of Afia and Pick 'N' Peel juice brands has received an additional €10 million loan from German sovereign wealth fund DEG to finance its expansion. The company will focus on new healthy beverages and products as well as expanding existing brands.
  • Seedstars, a global organisation with a mission to impact people's lives in emerging markets through technology and entrepreneurship, has announced it is to launch a $100 million fund to invest in African startups in collaboration with New Your-based First Growth Ventures.
  • Kevian Kenya the maker of Afia and Pick 'N' Peel juice brands has received an additional €10 million loan from German sovereign wealth fund DEG to finance its expansion. The company will focus on new healthy beverages and products as well as expanding existing brands.
  • Africinvest the Tunisian-based private equity firm, has teamed up with Cathay Innovation to launch a new Africa tech fund to raise a targeted $168 million.

DealMakers Africa is the Continent's M&A publication.
www.dealmakersafrica.com



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