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


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


Published Date: 2021-05-07 | Source: DealMakers | Author: Marylou Greig

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

DealMakers AFRICA

  • Rackla Metals, a mineral exploration company, has entered into an agreement to acquire a 73.5% stake in the Misisi Gold Project located in the Democratic Republic of the Congo for US$4,4 million settled by the issuance of 11 million Rackla shares at $0.40 per share.
  • Seahawk Gold, a Canadian resource exploration company, has acquired Sama Resources Development which holds a 100% stake in Sama Resources Liberia from Sama Resources Inc. The acquisition will give Seahawk ownership of the Zwedru South Project, St-John River Gold Project and the Nuon Project, located in Liberia. Seahawk will issue 8,5 million consideration shares which will result in Sama holding a 20.8% stake in Seahawk.
  • Galiano Gold, a precious metals producer listed on the Toronto and New York Stock Exchanges, has acquired ABG Mali Exploration from Barrick Gold for US$1,5 million.
  • Adena, a private markets investment firm, has disposed of Ademat, a provider of power security solutions in Cote d'Ivoire, to SPE Capital for an undisclosed sum.
  • Lami Technologies the Nairobi-based insurance technology company has raised US$1,8 million in seed funding in a round led by Accion Venture Lab's seed-stage investment initiative. The platform enables partner businesses such as banks, tech companies and other entities to easily and seamlessly offer digital insurance products to their users via its API.
  • Platform Capital, a Lagos-based growth markets focused advisory firm, has led a US$1,3 million investment round into STRAP Technologies - an innovative company which has developed the world's first total technology replacement of the white cane for the blind and visually impaired.
  • AlphaDirect, a Botswana insurtech startup, has raised US$600,000 in a pre-Series A bridge funding round. The round was led by Launch Africa Ventures alongside Century Oak Capital and some angel investors from previous rounds. The funds will be used to scale the business and expand its footprint into Zambia and South Africa.
  • Ensibuuko, a Ugandan fintech company providing digital financial services to rural customers, has raised US$1 million seed capital from FCA Investments. The funds will be used to expand the microfinance company's footprint across the continent.
  • Finnfund, a Finnish development financier and impact investor, is to commit US$10 million to Uhuru Growth Fund I, a first-generation fund focusing on high-growth SME and middle-market businesses operating in the consumer-facing and financial services sectors in West Africa.
  • MTN Rwandacell listed on the Rwanda Stock Exchange on May 4, 2021 representing the first mobile network operator to list its shares in the local exchange.

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

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