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


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


Published Date: 2020-11-06 | Source: DealMakers | Author: Marylou Greig

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

DealMakers AFRICA

  • EOS Capital and Climate Fund Managers (CFM) have announced a partnership to develop the world's first large-scale kelp farm. An investment of c.US$60 million will be required over a five year period and this will be funded by both international and local Namibian sources through Climate Investor Two, managed by CFM and the Namibia Infrastructure Development and Investment fund managed by Eos Capital.
  • Twiga Foods, the agri-tech startup based in Kenya, has secured US$29,4 million in debt funding from the International Finance Corporation's Global SME Finance Facility. The funding will be used to support c.300 irrigated medium-scale contract farmers to complement its seasonal smallholder farmer supply base.
  • Predictive Discovery, listed on the ASX, has consolidated its ownership of Burkina Faso projects by acquiring the 51% stake held by Progress Minerals. The move comes as the company considers potential divestment opportunities for the Burkina Faso assets.
  • Passafree a Cape Verde-based event ticketing and marketing platform, has merged with Best-id, a Portuguese company, to form PassiD. The combined venture plans to scale across the continent and Europe. Financial details of the transaction were undisclosed.
  • ATLAN Space, a Morocco-based AI startup which develops artificial intelligence to enable unmanned aircrafts to collect data and carry out tracking missions over large geographical areas without human intervention, has raised c.US$1,1 million from Maroc Numeric Fund II with participation from Hilmi Law firm and Cadex Group.
  • ILLA, the Egyptian startup providing a delivery logistics market place for fast moving consumer goods, has raised US$500,000 in a seed funding round led by Averroes VC and AUC Angels. The funds will be used to expand its presence in its current delivery logistics industry in Egypt with the possibility of expanding regionally.
  • Farmers Pride a Kenyan-based agritech startup, has secured US$220,000 from Gray Matters Capital, a US-based impact investor. The funds will be used to assist 500,000 rural farmers, of which most are women, to boost their productivity using the e-commerce platform to gain access to quality inputs and services, insurance and financial services, market linkages and farming mechanisation.
  • Amjaad, an Egyptian startup and developer of ioMeter, a web and mobile based platform for energy management and consumption and monitoring purposes, has raised a six-figure sum in a pre-Series A US dollar funding round. The investment will be used to expand its product and grow the customer base at home and abroad.
  • Kwaba a Nigerian rental financing startup which assists low and middle income earners to manage their annual rent in convenient monthly instalments, has raised an undisclosed sum in a funding round from Ingressive Capital. The funds will be used to expand its footprint.
  • Brantu, an Egyptian e-commerce fashion online platform has secured a seven-figure US$ sum in a series A round led by Sawari Ventures. Brantu is an online business-to-consumer marketplace that sells clothing, bags, footwear and accessories, connecting local and global fashion brands to Egyptian consumers.
  • SeamlessHR the Nigerian HR and payroll tech startup, has raised an undisclosed sum in a VC-led round of funding led by UK Lateral Capital and Lagos-based Consonance Investment Managers. The funds will be used to optimise its product offering and seek to increase its pan-African footprint.
  • Imperial Venture Fund part of the African and European-focused provider of integrated market access and logistics solutions, has partnered with Lori Systems with an investment to support the e-logistics platform's continued expansion in East and West Africa and across southern African markets.
  • Wee Media, a publisher of African publications and the creator of digital products with a presence in Kenya and Nigeria, has raised US$400,000 in a seed round from Samurai Incubate and Grenfell as the main participants. Funds will be used to strengthen its technology and expand its teams.
  • Swedfund the Swedish development finance institution, has invested US$1m in female technology e-commerce platform Kasha Global. The platform enables access by underserved women to education and confidential distribution of women's contraceptives, menstrual and health products. The investment will enable the Kasha Global, which has subsidiaries in Kenya and Rwanda, to accelerate its growth and expand into other countries on the continent.

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

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