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


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

Published Date: 2020-01-24 | Source: DealMakers | Author: Marylou Greig

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

DealMakers AFRICA

  • Paga, the Nigerian fintech startup, has announced the acquisition of Apposit, a software development company with operations in Ethiopia. The acquisition is part of the company's plan to drive financial inclusion via digital channels in underserved markets where mobile money is used by less than 1% of its 100m inhabitants.
  • African Infrastructure Investment Managers (AIIM) has acquired from Savannah Petroleum plc minority interests in Nigerian gas assets for an undisclosed sum. The assets include a 20% stake in Seven Uquo Gas, the entity that holds a 40% participating interest and a 100% economic interest in the Uquo gas field in SE Nigeria and a further 20% stake in Accugas, the integrated processing and distribution infrastructure for Uquo gas.
  • IFC, a member of the World Bank Group, has announced an investment of up to $5,75 million in Mortgage Refinance Company, a specialised Tanzanian private sector financial institution providing long-term funding to financial institution for the purpose of mortgage lending. The financing includes the local currency equivalent of up to $1,5 million in equity and $4,25 million for a medium-term notes bond issuance, spread over multiple tranches.
  • Fanisi Capital and Ascent Capital, two East African-focused private equity firms are set to consolidate their operations in a move to raise funds for bidder deals in the region.
  • Catalyst Fund, a global fintech accelerator managed by BFA Global and Rockefeller Philanthropy Advisors, has secured $15 million commitment from UKAid and JP Morgan to advance financial inclusion in emerging markets.
  • CDC Group, a UK development finance organisation, has announced it is to invest $15 million in TLcom Capital's TIDE Africa Fund. The group will support tech companies involved in solving problems associated with unemployment and inequality.
  • VerifyMe, a Nigerian ID verification and KYC (Know Your Customer) technology company, has announced it has secured a Series A financing from Nigerian Consonance Investment Managers. The funds will be used to expand strategic partnerships and bring new digital ID verification products to the market.

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

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