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


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


Published Date: 2021-04-16 | Source: DealMakers | Author: Marylou Greig

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

DealMakers AFRICA

  • Contemporary Amperex Technology (CATL) via its subsidiary Ningbo Brunp CATL New Energy will acquire a 25% stake in the Kisanfu copper-cobalt mine in the Democratic Republic of Congo for US$137,5 million. The deal will give CATL access to one of the world's largest and highest-grade underdeveloped cobalt and copper projects. The stake is to be purchased from China Molybdenum unit KFM Holding.
  • DLM Capital Group, the Nigerian developmental investment bank, has acquired Links Microfinance Bank, launching its entry into the Nigerian fintech sector. The license will give DLM Capital the mandate to operate small-scale banking services in Nigeria and allow the successive launch of its star digital lending brand Sofri.
  • Zeepay has acquired a 51% stake in Mangwee Mobile Money Zambia, a mobile money transfer platform aimed at increasing the rate of financial inclusion towards a cash-light economy. Financial details were undisclosed.
  • Eat'N'Go, the quick service restaurant operator in Nigeria, has expanded into East Africa with the acquisition of the franchisee operating Cold Stone Creamery and Domino's Pizza in Kenya. With this expansion, the company now has 147 stores in Nigeria and Kenya.
  • Appzone, a Nigerian- based pan-African fintech software provider for financial institutions' banking and payment services, has raised US$10 million in a Series A round. Funding was led by CardinalStone, a Nigerian Investment Bank, with participation from V8 Capital, Lateral Investment Partners, Constant Capital and Itanna Capital Ventures. Funds will be used to invest in its core technologies and expand its footprint.
  • Numida, a Ugandan fintech startup, has secured US$2,3 million in a seed funding round. Pan-African payments company MFS Africa led the seed round with participation from DRK Foundation, Equilibria Capital and Segal Family Foundation alongside angel investors. Numida provides risk-based pricing on an applicant's first loan based on a proprietary credit score. The proceeds will be used to pilot in a new regional market and expand its footprint within Uganda.
  • Tanda the Kenyan agency banking startup has secured undisclosed funding from early-stage African tech investor HAVAƍC, Zedcrest Capital, DFS Lab, Victor Asemota and angel investors.
  • BezoMoney an Accra-based startup has secured US$200,000 in a seed funding round led by Goodsoil VC. The funds will be used to scale the business by acquiring the Payment and Financial Technology Service Providers license in Ghana, build and deploy new products such as BezoCredit and BezoInvest and grow its user base.
  • Ampersand Rwanda, headquartered in Kigali, has secured a US$3,5 million investment from the Ecosystem Integrity Fund which will enable the electric motorcycle company to rapidly scale its business and increase its footprint outside Rwanda's borders.
  • Algebra Ventures, a venture capital firm based in Egypt, has launched a second fund worth US$90 million which will be dedicated to investing in fintech, logistics, healthtech and agritech startups in Egypt and the MEA region.

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

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