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: 2020-02-14 | Source: DealMakers | Author: Marylou Greig

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

DealMakers AFRICA

  • Edelman an independent global communications firm, has expanded its global footprint with the acquisition of Kenyan consultancy Gina Din Corporate Communications.
  • Qatar Airways, has announced its plans to purchase a 49% stake in Rwanda's national carrier. Late last year the Airways agreed to acquire a 60% stake in Rwanda's new $1,3 billion Bugesera International Airport which it would help build and manage.
  • SunFundera solar finance company providing debt capital to solar enterprises in emerging markets, has made its first investment in Nigeria in Daystar Power, a commercial and industrial solar power developer. The investment is part of a facility of up to $4 million.
  • Shanta Gold, the AIM-listed East Africa-focused gold producer, developer and explorer, has entered into an agreement to acquire Barrick Gold's Kenyan subsidiary Acacia Exploration. The primary asset is a 100% participating interest in licences held by Afriore which includes an existing high-grade resource - the West Kenya Project. On conclusion of the acquisition Barrick will become Shanta Gold's fifth largest shareholder with a 8.4% interest.
  • Fura Gems, a Toronto-based gemstone mining and marketing company, has entered into a share purchase agreement and non-competition agreement with GemRock Company, to acquire interests in three ruby mining licences/concessions in the Cabo Delgardo province of Mozambique and certain rights to explore in various countries without competition from GemRock. The aggregate purchase prices for the licences and rights under the non-competitive agreement are US$3,8 million and $3,5 million respectively.
  • Premier African Minerals the AIM-listed tungsten producer currently developing portfolio of strategic metals and agri mineral projects located across Africa, is to acquire a further 2% in MN Holdings (NMH), the owner and operator of the Otjozondu manganese mining project in Namibia. The stake has been acquired for $200,000, the consideration of which will be satisfied by the issue of 171 million new ordinary shares at an agreed issue price of 0.09p per share (£153,967). On completion of the acquisition, Premier's interest in MNH will increase to 12%.
  • Investment Evolution Corporation, a fintech group specialising in consumer loans in the US, has announced the successful listing of 106 million common shares on the Seychelles Stock Exchange at 0.15 euro per share equating to an initial market capitalisation of €15,9 million.
  • Trafigura, a commodities trader is to acquire a 51% stake in its Zimbabwe business from local partner Sakunda to become the sole owner. Financial details were undisclosed.
  • Taimba, the Kenyan-based agri-tech startup, has raised $277,000 in funding in partnership with Enviu and the DOE Foundation. The funds will be used to expand its mobile-based platform, which connects small-scale farmers in rural areas to urban markets, into six new markets in Nairobi.
  • IFC, a member of the World Bank, has invested c. $30 million in a securitization by NSIA Banque Côte d'Ivoire. The funds will be used to increase lending to local small and medium-sized enterprises. The transaction is the first securitization of loans originated by a commercial bank in the West African Monetary Union and the first with a scheduled maturity of 5-years.
  • Aella Credit, a Nigerian micro-lending fintech startup, has raised $10 million from Singapore-based HQ Financial Group in a debt-financing round. Aella plans to use the funding to scale its lending operations to the underserved African populations unable to access banking services, and to expand its product base payments.
  • Gebeya, an Ethiopian Ed Tech and online software outsourcing Marketplace company, has closed a $2 million seed round investment co-led by Partech and Orange Digital Ventures and followed by Consonance Investment Managers. The funds will be used to scale its current model of building the next generation workforce pipeline for a virtual 21st-century African Digital economy by implementing several vital changes to its ecosystem.

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



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