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


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


Published Date: 2021-11-19 | Source: DealMakers | Author: Marylou Greig

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

DealMakers AFRICA

  • CBZ, the largest of Zimbabwe's banks, has completed the acquisition of its 31.22% stake in First Mutual Holdings, a local insurance and property firm. The stake was acquired from the National Social Security Authority. The deal is in line with CBZ's drive to extend its influence in the financial services market.
  • Arabian Gulf Investments, a UAE-based firm, has acquired strategic stakes in three companies in Egypt; in the Egyptian Company for Embedded Systems and Industry, in EasyCash and in Health Technology for Advanced Technology and Public Health. The acquisitions are part of a series of steps in expanding its regional and global market footprint. Financial details were undisclosed.
  • Airtel Africa has completed the second phase of its money minority investment, raising US$125 million from The Rise Fund (US$50 million), Mastercard (US$50 million) and the Qatar Investment Authority (US$25 million). The funds were raised through the sale of shares in its mobile venture Airtel Mobile Commerce. Proceeds will be used to reduce group debt and invest in network and sales infrastructure.
  • Saint-Gobain, a French multinational company, has acquired a gypsum plant in Nairobi producing a variety of construction and other high-performance materials. In a second transaction, the group has acquired a majority stake in a.b.e, a leading producer of technical mortars, additives and waterproofing products in Mauritius.
  • EFG Hermes, the Egyptian financial group, has acquired the remaining 6.5% in Tanmeyah, a provider of microfinance solutions. The stake was acquired for EGP415 million.
  • Kippa, an app providing small business owners with a platform to keep track of their daily income and expense transactions, create invoices and receipts and generally monitor the business, has raised US$3,2 million in pre-seed funding. The Nigerian startup's financing round was led by Target Global, Entrée Capital, Alter Global and Rally Cap Ventures, together with a number of angel investors. Funds will be invested in growing its merchant base, improving its product and expanding into financial services.
  • Pravica, an Egyptian-based communications platform using Blockchain technology to empower user privacy and security, has received an undisclosed direct investment from Crypto Valley Venture Capital.
  • Shuttlers, a tech-enabled scheduled bus sharing company, has raised US$1,6 million in seed funding from several investors including VestedWorld, which led the round, Interswitch, Rising Tide Africa and Launch Africa, among others. Funds will be used to scale operations both within Nigeria and across its borders.
  • Career 180, a ed-tech platform based in Cairo, has raised US$200,000 from EdVentures. Funding will be used to scale its capabilities of training and placing of people.
  • KIWE, an Egyptian tech-based financial services platform, has raised an undisclosed amount in its investment round. The round was led by dfin Holdings with participation from EFG Hermes, Markez for Development and angel investors.
  • Aboki, a Nigerian fintech startup facilitating users to set up foreign bank accounts to send and receive money, raised an undisclosed amount in a pre-seed funding from, among others, Niche Capital and Ingressive Capital.
  • Identitypass, the digital compliance and security platform offering AI-powered biometric authentication and identity data verification, has raised pre-seed funding of US$360,000 from CcHub, Midlothiam Angel Network, D Global Ventures Fund with participation from angel investors. The Nigerian startup will use the funds to expand its team, its customer base and to increase its product range.
  • T40, an intercity mobility solutions platform based in Nigeria, has received an undisclosed investment from German venture capital firm GreenTec.
  • DrugStoc, a secure and interactive procurement platform empowering healthcare providers to access quality pharmaceutical products through a consolidated supply chain system, has raised US$4,4 million in Series A funding. The Nigerian e-health startup's funding round was led by Africa HealthCare Fund with participation from Vested World, the German Development Bank and angel investors. Funds will be used to expand the supply chains across 16 states in Nigeria.
  • The Rwanda Innovation Fund (RIF) which is managed by Angaza Capital, has invested US$1 million in VIEBERG Technologies, a Kigali-based tech company aiming to disrupt Africa's medical supply chain. VIEBERG already has a presence in Burundi, the DRC, Kenya and Rwanda. The funds will allow the health tech company to scale its AI technologies and knowledge base.
  • Nafham, a social startup offering free crowdsourced educational content, has been acquired by Tyro, an edutech platform. The deal, a share-swap agreement, will form the largest Edutech platform in the MENA region, providing both live online tutoring as well as recorded video content.
  • BlinkApp, a Cairo headquartered mobile road assistance platform, has raised an undisclosed six figure sum in a pre-seed funding round. Funds were raised from investors located in the UAE and KSA and will be used to escalate its expansion plans. The app's AI monitors driving behaviour, detects collisions and sends out notifications to emergency services and, generates insightful reports.

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

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