DealMakers AFRICA
Kasapreko Plc’s IPO attracted total bids of GHS1,72 billion, more than double the targeted raise of GHS700 million, representing an oversubscription of roughly 146%. The IPO consisted of 583,333,333 ordinary shares at GHS1.20 per share. The shares are expected to begin trading next week.
Nigeria’s Agriarche, has received backing from French development finance institution Proparco. Financial terms were not disclosed. Agriarche – a female led agri-tech company, has developed an integrated agricultural model spanning multiple segments of the value chain, including commodity aggregation, logistics, payments for local and export markets through its flagship platform, Kasuwa.
Edafa Venture announced the acquisition of two AI startups operating in construction and healthcare sectors. Kuadra leverages AI to transform the planning, management and execution of large-scale construction projects through interconnected smart operating systems that enhance efficiency and streamline project operations. IRRI Vision is an Egyptian health-tech company that develops AI-powered solutions to support physicians and healthcare providers with faster and more accurate diagnostic tools, helping improve treatment outcomes and overall quality of healthcare services. Financial terms were not disclosed.
Blnk, an Eqyptian fintech company has raised US$12,5 million in equity funding and $24,6 million in local debt facilities. The Series A equity funding round was led by Algebra Ventures, with participation from SANAD Fund for MSME, Endeavor Catalyst and Emirates International Investment Company (EIIC). Debt funding was secured from a number of leading local banks, with notable participation from Suez Canal Bank, Bank Albaraka and National Bank of Egypt, as well as Non-Bank Financial institutions (NBFIs) including Corplease, Globalcorp and BM Lease, among others.
CreditChek raised US$600k in seed funding led by Janngo Capital to expand its credit data infrastructure and services across the East African market. Additional investors include Vastly Valuable Ventures, Unipeg Capital, and returning investor Assembly Investors. CreditChek, based in Nigeria, is a credit assessment provider. The company provides a credit data infrastructure platform that aggregates and standardizes borrower data for financial institutions.
Kenya’s Family Bank has secured the Capital Markets Authority’s approval to list on the Nairobi Securities Exchange on June 23. This comes after Family Bank raised KES 8 billion (US$61,8 million) in a 2025 private placement, exceeding its KES 6.09 billion ($47,1 million) target.
MNT-Halan, an Egyptian fintech ecosystem, has reached a valuation of US$1,4 billion following the first closing of a new investment round led by Al Ahly Capital, the investment arm of the National Bank of Egypt. A second closing is expected as part of the ongoing round.
IQSTEL Inc., a global Connectivity, AI, and Digital Services company, has announced a Binding Memorandum of Understanding to acquire a 51% controlling interest in Ultranet Telecom Group, a fast-growing telecom and technology company headquartered in Ghana with operations across Africa and international markets. The parties are working toward a Definitive Purchase Agreement within 60 days, with a target close in Q3 2026. Financial terms are not being disclosed at this time.
Wilmar International announced that it has entered into definitive agreements with Tropical General Investments Group to combine their respective Nigerian and Republic of Benin operating businesses, into a single integrated platform through a new 50:50 joint venture. Following the signing of the definitive agreements, Wilmar and TGI Group will contribute a portfolio of complementary operating businesses and brands in Nigeria and Benin to the joint venture, spanning upstream agriculture, oil palm plantations, edible oils, edible nuts, rice, culinary, food manufacturing and nationwide distribution amongst others.
DealMakers AFRICA is the continent’s quarterly M&A publication
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