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


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

Published Date: 2020-08-21 | Source: DealMakers | Author: Marylou Greig

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

DealMakers AFRICA

  • Banque Misr one of Egypt's national commercial banks, has further increased its ownership stake in CI Capital to 24.7%. The bank acquired an additional 9% stake in the securities brokerage, research and asset management firm as part of its strategy to develop its non-banking financial services businesses.
  • Woodside the Australian oil and gas major, has exercised its pre-emptive rights over joint venture partner Cairn Energy's participating interest in Senegal's Sangomar offshore and Sangomar deep offshore contract area (RSSD). This follows the deal Cairn struck with LukOil for the acquisition of its 40% interest in the RSSD project. Woodside, which operates the joint venture will pay an up-front cash amount of $3 million plus working capital adjustments and a contingent payment of up to $100 million.
  • Ohlthaver & List Group the Namibian industrial conglomerate has acquired a majority stake in German renewable energy project development company Croniment Mining Power Solutions. The merged company will relaunch under the name O&L Nexentury.
  • Qatar Petroleum has entered into a farm-in agreement for an acquisition of a 30% participating interest in Block 48 located offshore Angola from Sonangol and Total.
  • Energy+, the Malian off-grid solar company focused on providing affordable and reliable energy to households, has raised in excess of US$1 million in a funding round from Venture Builder, Cordaid Investment Management and the United States African Development Foundation (USADF). The funding will be used to scale its pay-as-you go business in Mali to underserviced areas while at the same time providing job opportunities.
  • Fatura an Egyptian B2B e-commerce startup, has raised an undisclosed seven-figure US dollar seed round. The e-wholesaler connects FMCF wholesalers to retailers via a simple-to-use mobile application, resolving existing supply chain inefficiencies. The funding round was led by Disruptech with participation of EFG EV and Cairo Angels. The funds will be used to scale up its operations in Egypt.
  • WorkPay the Kenyan startup which builds human resources and payroll solutions, has raised US$2,1 million in a round led by Kepple Africa Ventures with participation from Y Combinator, Soma Capital, Musha Ventures, P1 Ventures and several angel investors. The funds will be used to grow its time tracking and salary disbursement tools which eliminate ghost workers from payrolls and inefficiencies associated with cash payments.
  • The International Finance Corporation, a member of the World Bank Group, has announced a US$20 million loan to the West Indian Ocean Cable Company to help the telecoms infrastructure provider expand and improve affordable internet connectivity in the 30 plus countries in Africa it serves.
  • Heineken, the major shareholder in Nigerian Breweries has purchased a further 273,542 shares at an average price of N35.76 per share.
  • The National Pension Scheme Authority (NAPSA) has invested US$3,2 million into three fruit processing factories through a short-term loan financing facility to the Industrial Development Corporation (IDC) in Zambia. The factories, which will be located in different provinces, will create jobs, stimulate the growth of auxiliary industries, provide a ready market to small-scale farmers and enhance skills transfer and development.

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

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