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


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

Published Date: 2020-05-22 | Source: DealMakers | Author: Marylou Greig

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

DealMakers AFRICA

  • Godrej Consumer Products, an Indian consumer goods company based in Mumbai, has announced the acquisition of the remaining 25% stake in Kenyan-based Canon Chemicals for an undisclosed sum. Godrej East Africa acquired a 75% stake in the company in 2016.
  • Consolidated Africa has announced the completion of the disposal to Blencowe Resources plc of its High Grade Graphite Project in Uganda. Consolidated Africa will receive US$50,000 in cash and 25 million shares in LSE-listed Blencowe Resources.
  • Qatar Petroleum, the state owned petroleum company of Qatar, has announced it has joined with France's Total to acquire a 45% participating interest in exploration blocks offshore of Côte d'Ivoire. The blocks, a key target area for Qatar Petroleum's international growth strategy, are important additions to its upstream portfolio in Africa.
  • Goodwell Investments via its West Africa partner Alitheia Capital, has led a €3,9 million Series A investment round in Tomato Jos, an agro-processing company focused on the production of local, high quality tomato paste.
  • Apollo Agriculture, a Kenyan commercial farming platform for small-scale farmers, has raised US$6 million Series A funding round. The investment will be used to expand its product offering. The round was led by Anthemis Exponential Ventures with participation from, among others, Leaps by Bayer, Flourish Ventures, Sage Hill Capital, to Ventures Food, Accion Venture Lab and Newid Capital.
  • Tambua Health, Brass and Funneljoy, all Nigerian startups, have secured investment from early-stage fund Ventures platform to enable them to scale their solutions. Tambua uses lung sound analysis to transform the diagnosis and treatment of respiratory diseases, Brass is a digital bank providing small and medium businesses with products and tools to assist in growth while Funneljoy is an all-in-one tool designed for digital entrepreneurs, marketers and creators to assist with the capture and engagement of leads for the sale of products online.
  • Interact Labs, an Egyptian startup which develops solutions that enhance collaboration, has received funding commitments from The Nest.
  • Villgro Kenya, a Nairobi-based healthcare incubator and investor, has invested a total of US$90,000 in The Pathology Network , a Kenyan startup and ClinicPesa, a Ugandan startup.
  • FNBQuest Merchant Bank, the investment and asset management subsidiary of FBN Holdings plc, has listed N5 billion bond under the firm's N50 billion bond issuance programme. The bond was 2.3 times over-subscribed.
  • Total has advised that given the current market conditions, it has decided not to pursue the completion of the purchase of the Ghana assets from Occidental Petroleum. The parties entered into an agreement in order for Total to acquire Anadarko's assets in Africa. Under this agreement, the parties have completed the sale and purchase of the Mozambique and South African assets.

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

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