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


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


Published Date: 2019-05-10 | Source: DealMakers | Author: Marylou Greig

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

DealMakers AFRICA

  • Inside Capital Partners through its first fund Inside Equity Fund, has signed an initial investment of $1,5 million with Reneworld to support the expansion plans. Reneworld has pioneered the development of Solar Energy solutions for individuals and SMEs in Mauritius.
  • MyDawa the Kenyan e-health startup has raised $3 million in funding from the Africa Healthcare Master Fund for accelerating a planned countrywide expansion. To date the online pharmacy has signed up more than 80,000 registered users.
  • SafeBoda the Uganda-based ride-hailing startup has secured an undisclosed investment in a Series B round co-led by Indonesia's ride-hailing company GOJEK and Allianz X, the digital investment arm of global insurance company Allianz. It is envisaged that the firm will replicate the model GOJEK employed in Indonesia by making an app available for its services.
  • Trove Finance the Nigerian micro-investing fintech startup has raised an undisclosed amount of funding from Ikoyi-based early-stage fund Ventures platform.
  • Menengai Group a family-owned Kenyan firm is set to acquire water bottler and beverages firm Aquamist which currently has a 9% market share in Nairobi and 4% nationally. Apart from bottle water, Aquamist also produces Vital Juices and Aquamist-branded iced teas and flavoured water.
  • Mediterrania Capital Partners is said to have sold a significant stake in Cash Plus to Moroccan industrial and property conglomerate Groupe Richbond. The regional private equity firm focussing in growth investments for SMEs acquired a 49% stake in Cash Plus in July 2014. Cash Plus is the largest independent money transfer company in Morocco.
  • Bank Audi the Lebanese financial institution has acquired the entire issued share capital of National Bank of Greece Egypt including its investment portfolio and 17 branches, estimated to be worth €110 million. Bank Audi Egypt has 46 branches and is the ninth in size among the private sector banks in Egypt in terms of assets.
  • Occidental Petroleum is to sell Anadarko Petroleum assets in four African countries to French energy giant Total for $8,8 billion. The deal is conditional on Occidental's takeover bid for Anadarko. The assets are in Algeria, Ghana, Mozambique and South Africa.
  • The International Finance Corporation is set to invest $50 million in private equity firm Helios Investors which is raising funds for new investments across the African continent.

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

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