DealMakers AFRICA
Venture capital firm, Readen Holding, has announced the signing of a Memorandum of Understanding to acquire an 80% stake in Nigeria’s Morrich Lottery, a licensed lottery operator in the West African country. Part of the agreement is the integration of Readen’s flagship digital payment solution, Readies, into all Morrich Lottery operations. Readies is a blockchain-powered hybrid payment platform that integrates traditional finance with cryptocurrency, delivering faster settlements, lower transaction fees, and enhanced financial flexibility. The platform features cross-border payment capabilities and state-of-the-art fraud prevention — making it an ideal solution for gaming and digital transactions in emerging markets. The deal marks Readen’s entry into the African market.
Canadian oil and gas company, Reconnaissance Energy Africa (ReconAfrica) has entered into a Memorandum of Understanding with Agência Nacional de Petróleo, Gás e Biocombustíveis or National Oil, Gas and Biofuels Agency (ANPG) for a joint exploration project in the Etosha-Okavango basin, located onshore in southeastern Angola. ReconAfrica will have an 80% working interest in the MOU area and Sonangol will hold the remaining 20%. Under the terms of the MOU, ReconAfrica will initiate and coordinate geological studies, conduct a regional oil and gas seep study, and plan for a 2D seismic programme, as well as perform detailed geochemical analysis and sampling of any oil and gas seeps identified within the MOU area, over a 24-month period.
Moroccan startup, VOVE ID, has secured an undisclosed investment from The Baobab Network. Founded in 2024, VOVE ID is a high-end digital identity verification company whose platform supports features such as biometric authentication and automated document checks. The investment will be used to support the regtech’s regional expansion, platform development and team growth.
ASX-listed Traka Resources announced its entry into the Siguiri Basin in Guinea, following the signing of an exclusive agreement with Guinean based Alamako Corporation International to earn-in a 75% interest in the Didi Gold Project. The earn-in will be completed through the sole funding and undertaking of the exploration programme of the project and the payment of US$1 million in cash at various dates.
DealMakers AFRICA is the continent’s quarterly M&A publication
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