DealMakers AFRICA

Jiji, the Lagos-headquartered classifieds marketplace, has acquired Bikroy, Bangladesh’s largest online classifieds platform, from Sweden-based Saltside Technologies for an undisclosed sum.

Proparco and dfcu Bank signed a Letter of Intent for a proposed €30 million senior loan dedicated to financing Ugandan small and medium-sized enterprises (SMEs). The proposed funding will provide dfcu with long-term funding to expand its SME lending activities in local and foreign currency and is intended to support businesses that remain structurally underfinanced despite playing a central role in Uganda’s economy and job creation.

Metro Africa Xpress (MAX), a Nigerian electric mobility platform, has secured US$8 million in debt funding from Netherlands-based impact investment manager Triple Jump. The funding will support the expansion of MAX’s electric vehicle (EV) fleet; rollout of battery swap infrastructure and continued development of its Pay-As-You-Go (PAYGO) financing platform.

Egypt’s Beltone Venture Capital and the UAE’s Citadel International Holdings have exited Egyptian logistics company Bosta through their joint investment fund. The transaction generated a 75% internal rate of return (IRR) for the fund. The deal marks the fifth successful exit for Beltone Venture Capital since its launch in 2023 and also represents the second exit completed through the joint fund with Citadel International Holding.

The African Development Bank Group (AfDB) approved a US$61 million financing package for the Development Bank of Nigeria (DBN) to expand access to affordable credit for women-owned and women-led businesses across Nigeria, particularly in the agricultural sector. The financing comprises three instruments: a $50 million gender-focused line of credit; an $8 million concessional facility under the Agri-Food SME Catalytic Financing Mechanism (ACFM); and a $3 million grant under the Bank’s Affirmative Finance Action for Women in Africa (AFAWA) initiative, funded by the Women Entrepreneurs Finance Initiative (We-Fi).

Cameroon officially completed its takeover of Société Générale Cameroun on May 12 in Douala, increasing the state’s ownership in the bank to 83.68%. The Cameroonian government purchased the 58.08% stake previously held by Société Générale as part of a broader transaction signed between the two parties in July 2025. Following the acquisition, the bank was renamed General Bank of Cameroon (GBC).

The Egyptian Exchange (EGX) has approved the temporary listing of the Egypt Education Platform (EEP). According to the EGX disclosure, the company must complete the registration procedures with the Financial Regulatory Authority (FRA). It must also apply to the EGX to execute the offering of its shares within six months from the date of temporary listing. During this period, the company’s shares will not be tradable during the period from the date of the temporary listing. It will only be tradeable after the offering, with the approval of the FRA.

DealMakers AFRICA is the continent’s quarterly M&A publication
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