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


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

Published Date: 2020-10-16 | Source: DealMakers | Author: Marylou Greig

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

DealMakers AFRICA

  • Fan Milk International has acquired a further 5.46% stake in Fan Milk Ghana from Honk Kong Shanghai Arisaig Africa Consumer Fund increasing its stake to 62.10%. Financial details were undisclosed.
  • Al Saidy has acquired International Tobacco, an Americana Egypt subsidiary and producer of the ElHennawi tobacco brand. The transaction value was not disclosed.
  • Frontier Digital Ventures has acquired, from Norwegian online classifieds company Adevinta ASA, two general classifieds portals in Morocco and Tunisia - Avito and Tayara respectively.
  • Meera Investments has, following a successful bidding process, acquired Simbamanyo House in Kampala, Uganda for Shs18,5 billion from Equity Bank.
  • AirSmat a Nigerian-based drone software and tech startup has secured US$100,000 funding in a pre-seed round from venture capital firm Zetagon. The investment will be used to expand its platform SmartCrows which promotes the use of drone technology across various industries.
  • Milango a Cairo-based startup, has raised an undisclosed sum to fund the expansion of its platform to closed communities in the Middle East and North Africa by providing tailored products and services not accessible such as gated compounds, sporting and social clubs.
  • Easy Solar the West African solar startup, has secured US$5 million in funding in a round led by global impact investor Acumen and FMO, the Dutch entrepreneurial development bank. Easy Solar provides affordable solar energy technology and a range of easily accessible financing options through and extensive network of agents and shops.
  • dreevo a delivery focused startup based in Egypt has secured an undisclosed pre-seed funding from EF Logistics, a third party logistic services provider. The startup operates in 22 cities across Egypt and provides a wide range of delivery solutions and services and custom-tailored packages. The funds will enable the startup to provide affordable technological solutions for eCommerce entrepreneurs.
  • Evolve Credit a Nigerian lending startup has raised an undisclosed sum in pre-seed funding from Ingressive Capital, Future Africa, Samurai Incubate and two angel investors. The startup allows users to compare loans and access unbiased insights from experts and lenders to accept loan applications, undertake portfolio management, credit scoring and disbursement and collections through Evolve's cloud-based lending software. The funds will be used to fund technology development.
  • NowPay the Cairo-based fintech startup, has raised US$2,1 million from Foundation Ventures, Endure Capital, 500 Startups and Ebtikar among others. The funds will be used to further develop the platform's capabilities and to expand its footprint in the MENA region.
  • Delta International is to acquire an 84% stake in Kenyan-listed Nairobi Business Ventures via a reverse takeover, giving the cement business a listed status and easier access to the capital markets.

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

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