DealMakers AFRICA

iSUPPLY, an Egyptian B2B med-tech, has announced a US$3 million Sharia-compliant revenue-based revolving finance agreement with Bokra. i‘SUPPLY looks to digitise the pharmaceutical business by providing a one-stop-shop solution to quickly predict and overcome supply chain disruptions. Leveraging artificial intelligence and predictive analytics, the platform streamlines procurement and optimises inventory, helping resolve long-standing inefficiencies in the healthcare supply chain.

Metals exploration company KoBold Metals has agreed a framework agreement to buy AVZ Minerals’ interests in the Manono lithium deposit in the Democratic Republic of Congo. The agreement will enable KoBold, which is backed by billionaires Bill Gates and Jeff Bezos, to invest more than $1 billion to bring lithium from Manono to Western markets.

Nigerian heath-tech Platos Health, has raised US$1,4 million in pre-seed funding to grow its AI powered health platform, Platos Monitor. The round was led by Google for Startups and also included Invest International and several angel investors.

ASX-listed Resolute Mining has signed an agreement with AngloGold Ashanti to acquire the Doropo and ABC Projects in Côte d’Ivoire for US$150 million. The consideration will be paid through an upfront payment of $25 million and a deferred cash consideration of $125 million payable in two instalments. The consideration also includes a royalty (2%) and milestone payment over the ABC Project and the transfer of Resolute’s Guinean exploration permits, to AngloGold.

Egypt’s Elsewedy Electric S.A.E has acquired a 60% stake in Thomassen Service. The acquisition consists of its MEA business unit (TSME), its filters manufacturing and its African-business affiliate. Financial terms were not disclosed. Elswedy operates in five key business sectors: Wire, Cable & Accessories, Electrical Products, Engineering & Construction, Digital Solutions, and Infrastructure Investments and the acquisition will expand its global footprint and diversify its capabilities in the energy sector.

Renewable energy firm, Biolite, headquartered in New York and Nairobi, and Norwegian Investment Fund, Norfund, have acquired a majority stake in Baobab+ from the Baobab Group. Baobab+ is a provider of off-grid renewable energy solutions, operating in Senegal, Côte d’Ivoire, Nigeria and Madagascar. Financial terms of the deal were not disclosed.

Egyptian fintech, MoneyFellows has raised US$13 million in pre-Series C funding. The round was led by Al Mada Ventures and DPI’s Nclude Fund and included Partech Africa, CommerzVentures and other investors. MoneyFellows has digitised one of the world’s oldest financial systems: the rotating savings and credit association (ROSCA). ROSCAs are informal savings groups where a fixed number of participants contribute regularly to a shared pool, which pays out to one member per cycle. Rather than act as a lender, MoneyFellows matches savers and borrowers using behavioural data, credit scores, and income tiers.

DealMakers AFRICA is the continent’s quarterly M&A publication
www.dealmakersafrica.com