DealMakers AFRICAKenya’s KCB Bank has announced the acquisition of a minority stake in payment services company, Pesapal for an undisclosed sum.
Anda, an Angolan company focused on inclusive and sustainable urban mobility, has successfully closed a €3 million funding round that included BREEGA, Speedinvest, Double Feather Partners, and 4DX Ventures — with investors from France, Austria, Japan, and the United States.
BIO – the Belgian Investment Company for Developing Countries has announced the close of an investment in LIMBUA. Financial terms were not announced. LIMBUA is a German-Kenyan macadamia nuts supplier and producer. In cooperation with more than 9,000 Kenyan smallholders, they produce macadamia nuts, macadamia oil, avocado oil and dried mangos for the trade.
African Development Bank has approved a US$14,54 million financing package to support the Garneton North 20 megawatt solar project, in Zambia’s Copperbelt Province. When operational, the project will provide 82,000 people with clean, reliable electricity and eliminate 58,740 tons of CO2 emissions per annum.
ElectriFI, the EU-funded Electrification Financing Initiative managed by EDFI Management Company, has announced a €2,5 million equity investment in Sawa Energy, a growing renewable energy company operating in Uganda and Rwanda. The investment, allocated through the Uganda Country Window of ElectriFI, aims to catalyse the expansion of solar photovoltaic and Backup Energy Storage Solutions for commercial and industrial clients across Uganda.
In Boucraa, Morocco, Phosboucraa which mines, processes and markets phosphate rock and, soon customised fertilizers, has announced it has raised MAD2 billion in financing from Caisse de Dépôt et de Gastion to support the company’s investment programme in the Southern Provinces.
WildyNess, a Tunisian B2B2C traveltech startup, closed its pre-seed round co-led by Bridging Angels and the African Diaspora Network for an undisclosed value. Founded by engineers Achraf Aouadi and Rym Bourguiba, WildyNess uses its B2B2C model to empower tourism micro-entrepreneurs. The raised capital will be used to fuel regional expansion into Algeria, Saudi Arabia, Oman, and the UAE, as well as to strengthen its technology platform.
Farm to Feed, a Kenyan agritech startup that connects smallholder farmers to businesses that need reliable and traceable produce, has closed a US$1,5 million seed funding round to scale its operations across Kenya and into regional markets in Africa. The investment includes $1,27 million in equity and $230,000 in non-dilutive funding from the DeveloPPP Ventures programme. The $1,27 million equity round was led by Delta40 Venture Studio, with participation from DRK Foundation, Catalyst Fund, Holocene, Marula Square, 54Co, Levare Ventures, and Mercy Corps Ventures.
Beltone Venture Capital has announced its exit from Cathedis, a Moroccan logistics and last-mile e-commerce delivery company that provides services like pickup, warehousing, and delivery for online retailers. The exit saw Beltone achieve a 100% IRR, marking its third successful exit since inception in 2023.
Chari, a Moroccan B2B e-commerce startup, has raised an undisclosed amount from DisrupTech Ventures, an Egypt-based early-stage venture capital firm, as part of its Series A extension round. Chari allows traditional store owners to order and receive fast-moving consumer goods directly from distributors. The YC–backed company has onboarded more than 20,000 small retailers across Morocco, Tunisia, and Côte d’Ivoire.
Europa Metals announced the signing of a heads of terms regarding the proposed acquisition of Marula Africa Mining Holdings and its near-term in production assets in Kenya, Tanzania, Burundi and South Africa in exchange for shares in Europa at a ratio of 9 new shares in Europa for one share in Marula Africa.
DealMakers AFRICA is the continent’s quarterly M&A publication
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