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: 2019-12-13 | Source: DealMakers | Author: Marylou Greig

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

DealMakers AFRICA

  • Adzily, an Egyptian indoor advertising platform, has raised a $12,2 million funding round to expand its network of digital display screens across Egypt and Saudi Arabia. The funds were raised from Al-Tharawat Private Investment, a Saudi-based investment company. Funds will be used to expand its network of screens.
  • Wildsky Resources a Canadian-based exploration and development company listed on the TSX Venture Exchange, is to acquire Zijin Midas Nigeria (ZMNL) for a cash consideration of $96,000. ZMNL holds ten exploration licenses; three pertain to Niobium-tantalum exploration and the remaining are for gold and lead-zinc exploration.
  • The FUCHS Group an international operator in the lubricants industry, has acquired 50% of the shares in three distributors based in Zimbabwe, Zambia and Mozambique, strengthening its footprint in sub-Saharan Africa. Sectors serviced are across the board from mining to food and beverage. The deal is expected to close in early 2020.
  • Farmshine, a Nairobi-based agritech startup has secured a $250,000 investment from Gray Matters Capital, a US impact investor, via its gender lens sector agnostic portfolio GMC coLABS. Farmshine provides a platform for farmers, buyers and service provides to trade on mutually beneficial terms.
  • Alexandria Development has announced its intention to delist Alexandria Portland Cement from the Egyptian Exchange by acquiring the remaining 11.07% of the company it does not already own.
  • Thor Explorations, a Canadian mineral exploration company listed on the TSX Venture Exchange, has acquired through its wholly owned subsidiary Segilola Gold, two key exploration licences adjacent to the Segilola Project. The licences cover a strike length of 20km over the highly prospective gold-bearing Ilesha Schist Belt and the immediate northern extensions of the Segilola gold trend.
  • Oikocredit the Dutch-headquartered social impact investor, has exited its investment in Zambian fish farm Yalelo some 14 years after it made its investment in the now largest sustainable aquaculture company on the continent.
  • Teranga Gold Corporation is to acquire a 90% stake in the Massawa Project in Senegal from Barrick Gold and its joint venture partner Compagnie Sénégalaise de Transports Transatlantiques Afriqure de l'Ouest for up to $430 million.
  • Jiji, the Nigerian-based digital classified company, has raised $21 million in Series C and C-1 financing from six investors led by Knuru Capital. The classified site lists vehicle sales, real estate and electronic sales as the main revenue streams and has a presence in Ghana, Uganda, Tanzania and Kenya.
  • Turaco, a Kenyan insurtech startup, has raised a $1,2 million seed investment from Gan Ventures, Mercy Corps Ventures and Musha Ventures. The funds will be used to further scale its operations across Africa.

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



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