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


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


Published Date: 2021-10-22 | Source: DealMakers | Author: Marylou Greig

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

DealMakers AFRICA

  • National Aviation Services (NAS), headquartered in Kwait, is to acquire a 51% stake in Siginon Aviation, a subsidiary of Kenya's Siginon Group. The deal will strengthen NAS' ground, ramp and cargo handling capabilities in the region, particularly in East Africa. Financial details of the transaction were undisclosed.
  • Lotus Resources, an ASX-listed minerals exploration and development company, has acquired the Livingstonia Uranium Project in Malawi for US$25,000. The project is located 90km from the company's Kayelekera Uranium Project and will increase Lotus' mineral resource base providing the potential to become a future satellite operation for the company.
  • MFS Africa, a leading digital payments hub in Africa, enabling low-cost payments across the continent, has scaled its expansion in Nigeria through an agreement to acquire Nigerian Capital Digital, the holding company of one of Nigeria's leading super-agent networks, Baxi.
  • Daraju Industries, a Nigerian manufacturer of fast-moving consumer goods in the personal care and household care segments, will receive an injection of capital as DEG, the German development finance institution, takes a minority stake in parent company Ashwah Holdings. DEG will provide growth financing and advisory services to management.
  • Brass, a digital fintech startup based in Nigeria, has secured US$1,7 million in funding as it looks to expand into Kenya and South Africa. The digital bank delivers easy access to affordable premium banking services for small and medium sized businesses. Participating in the round were Hustle Fund, Acuity Ventures, Uncovered Fund, Ventures Platform together with angel investors.
  • Asante Financial Services, a Kenyan digital financial services firm focused on advancing financial independence and improving the well being of underserved small businesses and individuals across the continent, has closed a US$7,5 million Series A investment round led by Goodwell Investments. Sorenson Impact Foundation and Forsage Holdings also participated in the round.
  • Sendbox, a logistics startup making local deliveries within Nigeria and internationally, has raised US$1,8 million as it scales its business to provide small merchants with a means to sell directly to customers through their own online and offline channels. The funds were raised from 4DX Ventures, Enza Capital, FJLabs and Golden Palm Investments.
  • ILLA, a FMCG logistics company based in Cairo, has raised an undisclosed seven figure investment round. The funds, raised from Watheeq Financial Services, Golden Palm Investments, Loftyinc Capital Management and Kepple Africa Fund among others, will be used to boost expansion within Egypt and enhance user experience by diversifying its offerings.
  • Elmawkaa, a Cairo-based construction and technology startup, has raised an undisclosed six-figure investment. The seed round was led by Flat6Labs, with participation by OQAL Angel Investors. The platform, which eases the process of buying and selling of building materials through the use of its matching algorithms, will use the funds to scale the business within Egypt before venturing into cross-border transactions.
  • Talabeyah, a Cairo-based B2B e-commerce startup focused on food and groceries, has raised an undisclosed seven-figure pre-seed round from strategic angel investors. Funds will be used to scale operations by developing technology and leveraging the use of AI and machine learning algorithms to enhance user experience.
  • d.light, a Nairobi-based innovator of solar, lighting and sustainable products, has raised US$15 million in equity financing from existing investors led by Inspired Evolution. The capital raise will be used to grow the company's Pay-Go consumer finance business in key markets across Africa.
  • Nawah Scientific, an online pharmaceutical testing industry platform based in Egypt, has disposed of a strategic stake to Essam Abdelhadi ahead of its upcoming Series A round.
  • Sparkle, the Nigerian digital bank servicing individuals and small and medium size enterprises, has raised US$3,1 million in a seed funding round to scale operations. The funds were raised from Leadway Assurance, Trium Networks and several local angel investors.
  • Wicrypt, a blockchain-based Wi-Fi sharing startup based in Nigeria, has closed an investment round raising US$1,5 million. The round was led by AU21 Capital with participation from Sandeep Nailwal of Polygon, Outlier Ventures, Chain Capital, Inclusion Capital among others. The funds will be used to scale operations.
  • E-finance For Digital and Financial Investments listed on the Egyptian Exchange with much fanfare this week after completing the largest initial public offering undertaken on the exchange raising c.US$372 million. The state-controlled payments firm is the first privatisation since 2005. The institutional book in the IPO was covered 6.8 times while the retail tranche was covered 61.6 times.

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

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