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


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


Published Date: 2021-03-05 | Source: DealMakers | Author: Marylou Greig

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

DealMakers AFRICA

  • EDF, a French multinational electric utility company and key player in energy transition, has acquired a 23% stake in Bboxx's Kenya operations for an undisclosed sum. Bboxx manufactures, distributes and finances decentralised solar powered systems in developing countries. The deal follows the 2018 50% joint venture transaction between the two in Togo. The aim is to provide access to clean, reliable and affordable and carbon-free energy to over 2 million Kenyans with solar home systems by 2025.
  • Vodafone Egypt, is to acquire a 20% stake in e-payment service providers Bee and Masary from Ebtikar for Financial Investments. Financial details on the transaction were undisclosed.
  • InfraCo Africa has invested US$10 million into Acorn, which has recently launched a Development REIT and an Income REIT, committing support for the delivery of affordable student accommodation in Nairobi. Once operating at scale, Acorn plans to list the Income REIT on the Nairobi Stock Exchange.
  • JR Farms, a Nigerian agribusiness, has acquired an 11% stake in Sanit Wing Rwanda via its Green Agribusiness Fund which focuses on investments in youth-led Agribusinesses across Africa. Sanit Wing Rwanda is an agro-processing company that processes avocado oil and by-products such as hair cream, soap and skin care products.
  • African Infrastructure Investment Managers (AIIM), an infrastructure-focused private equity fund manager, together with the management team of the new Onix Data Centres platform, have acquired a majority stake in Ngoya Etix DC (Ghana), a carrier-neutral data centre with a current capacity of 170 racks. The investment was via AIIM's pan-African infrastructure fund AIIF3. The acquisition marks the fund's second investment in the digital infrastructure sphere during the last four months.
  • Palm Hills Development has acquired a 28.16% stake in its education subsidiary Palm Hills Education from Mansour-Maghraby Investment and Development for EGP4,195 billion.
  • Mubawab, a Morocco-based real estate portal, has received a US$10 million cash injection from Emerging Markets Capital Group, a UAE-based real estate-focused firm. The funds will be used to accelerate its expansion in the Maghreb region.
  • ImaliPay, an African-based fintech startup servicing the gig economy, has raised pre-seed funding from Australian venture capital firm TEN13. Other investors include FINCA Ventures, Optimiser Foundation, Mercy Corps Ventures, Changecom and angel investors from Nigeria, Kenya, Norway and the UK. The investment will be used to expand and accelerate its growth and footprint in Kenya, Nigeria and South Africa.
  • Raise, the Kenyan fundraising platform, has secured US$25,000 from venture capital firm Microtraction. Raise, which aims to simplify equity and democratise access to assets, will use the funds to build out is platform and scale.
  • Deya, an Angolan crowdfunding platform acts as the middleman between fundraisers and donors with a secure and transparent process and tech-based platform, has secured an undisclosed amount, said to be over US$50,000, in funding. The pre-seed financing will be used to further develop the platform and improve user experience.
  • Powered by People, a Kenyan fintech startup has secured US$1,5 million in seed funding from DraftKings, TBD Angels and other angel investors. The startup has created a wholesale platform for creative manufacturing producers and buyers, offering online tools, financing solutions and a B2B market place. The funding will be used to scale up relationships with retailers in Africa and globally.

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

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