DealMakers AFRICA

Botswana-based private equity firm, Africa Lighthouse Capital, has announced the acquisition of a significant minority equity stake in Bayport Financial Services Botswana, a regulated microfinance provider serving government and other wage-earning employees, for an undisclosed sum.

Caisse des Dépôts et Consignations de Côte d’Ivoire Capital (CDC-CI Capital) has made an equity investment FCFA350 million in the E-Health Development Agency (ADES) to support the development of telemedicine and connected care in Côte d’Ivoire. ADES offers telemedicine and outpatient care services through its UMED platform, which includes online consultations, home medical visits, biomedical analyses, and remote medical monitoring for patient follow-up, particularly for those with chronic diseases.

Moroccan fintech, Chari, has raised US$12 million in a Series A round led by SPE Capital and Orange Ventures, and including Verod-Kepple, Global Founders Capital, Plug and Play, Endeavor Catalyst, Pincus Capital, Al Khwarizmi Ventures, UM6P Ventures, Axian Group, Uncovered Fund, AfriMobility, P1 Ventures, Reflect Ventures, Dragon Capital, MyAsia VC, Harambean Prosperity Fund and H&S Invest Holding. Business angels Michael Lahyani and Karim Beguir also joined the round. Chari is the first VC-backed startup in Morocco to be granted a payment institution license by Bank Al-Maghrib, the country’s central bank.

In Nigeria, online travel group, Wakanow, has acquired Nairabox, a Nigerian event and cinema ticketing platform, for an undisclosed sum. The acquisition signifies Wakanow’s expansion beyond traditional travel services into the broader entertainment and lifestyle sectors, aiming to create a comprehensive digital ecosystem that integrates travel, entertainment, and cultural experiences.

Mi Vida, a Kenyan residential build-to-sell developer, focusing primarily on affordable and mid-market green-rated housing, has announced the signing of a share purchase agreement for a management-led buyout of the business from Actis for an undisclosed sum.

Cameroon-based fintech, REasy, has raised US$1,8 million in pre-seed funding to expand its operations across West Africa and strengthen its trade infrastructure. The round was led by Ingressive Capital, Launch Africa, and 54 Collective, with participation from Digital Africa, Christophe Chausson, Mathias Léopoldie, and Joël Nana Kontchou. The trade-finance platforms, founded in 2023, offers cross-border payments, logistics and compliance services to SME importers.

Kestrel Capital East Africa, an East African investment bank and stockbroker in Kenya, announced its acquisition by Theo Capital Holdings through a landmark Management Buyout. The deal was announced at the firm’s 30-year anniversary celebrations. Financial terms were not disclosed.

A consortium of investors comprising SPE PEF III (SPE Capital), Proparco and Amethis MENA Fund II (Amethis) has invested in Delta Holdings B.V., a prominent manufacturer of specialty additives with a focus on the paint and coatings industry that has a strong international presence in Egypt and India. Financial terms were not disclosed but the investment will support Delta Holdings in broadening its product offering and accelerating its export-oriented initiatives.

Tunisian fintech, PayDay, has announced the closing of its first pre-seed financing round led at a valuation of US$3 million, by UGFS North Africa (United Gulf Financial Services), with participation from TALYS Group and BioProtection SA. The startup combines salary-backed financing and micro-Takaful protection to foster financial well-being and inclusion across Tunisia and beyond.

Jahazii, a Kenyan fintech startup providing earned wage access and payroll infrastructure for Africa’s informal economy, has raised US$400,000 in pre-seed funding. The blended round—featuring equity, debt, and grant funding —drew investors including Antler East Africa, DEG Impulse, Jozi Angels, Innovest Afrika, and several strategic angel investors. The company will use the new capital to scale its software platform that unifies HR management, payroll processing, and embedded financial services for operations-heavy sectors such as manufacturing and agriculture.

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