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


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

Published Date: 2019-07-19 | Source: DealMakers | Author: Marylou Greig

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

DealMakers AFRICA

  • Africa Finance Corporation a leading infrastructure solutions provider in Africa, has invested $100 million in Aker Energy A.S, the funds of which will be used to finance the development of the Deepwater Tano Cape Three Points block, a block offshore Ghana containing multiple oil fields.
  • Investec Asset Management (IAM) has announced its first private equity investment in Egypt with the acquisition of Spinneys Egypt, a supermarket chain. The chain was acquired from Arbraaj, the Dubai-based private equity firm currently in liquidation. The investment marks the eighth investment from IAM's second pan-African private equity fund.
  • Alrosa , the Russian diamond miner, has entered into a joint venture with Zimbabwe Consolidated Diamond Company to develop the diamond deposits in Zimbabwe. The terms of the joint venture will see Alrosa taking a 70% stake in the development of the greenfield projects.
  • AgDevCo, the impact investor specialising in agribusiness investments in sub-Saharan Africa, has announced a multi-million Euro investment in Africado. Based in the Kilimanjaro region of Tanzania, Africado exports avocados grown on its own farm and those from surrounding farmers to Europe.
  • AHL Venture Partners, an East African impact investment firm, together with DOB Equity, have invested in Crop Nutrition Laboratory Services (Cropnuts). The agricultural laboratory and agronomy services company aims to increase the productivity of SME and smallholder farmers by making testing and advisory services more accessible.
  • Surya Capital, an East African investment firm, has signed a binding agreement to acquire private school Rainbow International School Uganda, in a reported $20 million transaction.
  • Lynk a Kenyan start-up which connects informal artisans with customers, has raised a new round of funding led by Lateral Capital with participation by Kenyan Cornerstone Group. The funds will be used to expand its operational footprint and improve its B2B offering.
  • Enko Education, the African international schools network, has closed a $1,4 million funding round from a pool of private and institutional investors. The funds will be used to deliver Enko's strategic plan to reach 60 schools and 20,000 students by 2026. Enko is now targeting to raise a further $11 million within the year for the second round of its Series B.
  • EXEO Capital has announced the acquisition of a minority stake in PPHL, a Tanzanian manufacturer of bags, sacks and tarpaulins for the agriculture and cement industries.

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

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