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


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


Published Date: 2021-09-10 | Source: DealMakers | Author: Marylou Greig

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

DealMakers AFRICA

  • Film Clinic, a Cairo-based production company, has received an undisclosed capital injection which will see Ergo Media Ventures acquire a 49% stake in the company. The investment will be used to scale the company's activities within the film and TV industry.
  • Aradei Capital, a Casablanca exchange-listed property company specialising in the acquisition, development and management of rental real estate assets, has announced the acquisition of a 51% stake in Akdital Immo, a Morocco real estate platform. The stake will see Aradei Capital in partnership with Akdital Holdings and BFO Partners.
  • Autochek, the Nigerian auto-tech company providing an online classified for dealers, importers and private sellers, is building on its previous acquisitions in 2020 of the Nigerian and Ghana units of Cheki by snapping up the Kenya and Uganda units from Ringier One Africa Media (ROAM). Financial details were undisclosed.
  • Arise, an equity investor in financial institutions in sub-Saharan Africa, has made a US$75 million Additional Tier 1 investment in Ecobank Transnational Incorporated (ETI). The investment will optimise and improve ETI's Tier 1 capital by US$75 million.
  • Infrastructure Credit Guarantee Company (InfraCredit), a specialised credit guarantee institution in Nigeria, has received an equity investment of US$5 million from Leadway Assurance. The equity investment makes Leadway the first private institutional investor member of InfraCredit. The investment is in line with Leadway's vision of creating an effective public-private partnership for crowding-in private sector capital towards infrastructure financing in a sustainable way.
  • Wave Mobile Money, a Senegal and US-based mobile money provider, has raised US$200 million in a Series A round. Sequoia Heritage, Founders Fund, Stripe and Ribbit Capital led the funding round. Wave was spun out of Sendwave and claims one in two adults in Senegal are active users of the app.
  • Prospa, a Nigerian fintech startup, created to address the banking and software needs of small business owners, has raised US$3,8 million in pre-seed funding. Investors include Global Founders Capital and Liquid 2 Ventures among others.
  • MNT-Halan, an Egyptian fintech startup, has raised US$120 million in a round led by Apis Growth Fund II, Development Partners International and Lorax Capital Partners. MNT-Halan's fintech ecosystem connects consumers, vendors and micro-enterprises through a digital platform and payment solutions. The funds will be used to further develop its technology and expand its footprint into overseas markets.
  • Pezesha, a pan-African fintech startup based in Kenya, has raised a seven-figure seed extension round from GreenHouse Capital. The investment will be used to scale the expansion of its embedded credit infrastructure across Africa. In addition to the GreenHouse investment, Pezesha received on-lending liquidity support from Venture Garden Group. The startup enables non-traditional finance institutions to offer working capital to SMEs using its lending infrastructure.
  • Lacaisse.ma, a Morocco-based player in the digitisation of local shops through its unique points of sale solutions, has secured funding from WitaMax, a company founded by Southbridge A&I and the Axxam Family Office. Funds will be used to improve and update the management of physical points of sale in Morocco and internationally. The size of funding was undisclosed.

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

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