DealMakers AFRICA

Egypt’s e-commerce operations platform Fincart has raised an oversubscribed US$2,8 million seed round, co-led by Launch Africa and Antler MENAP, with participation from Yango Ventures, Five35 Ventures, Bluestream Capital, Hi2 Global, Kalahari Venture Labs, and other regional investors. Fincart provides an AI-powered operating platform that enables merchants to manage shipping, customer engagement, and cash advances through a single interface, integrating with more than 40 courier companies across Africa.

Eos Capital’s Allegrow Fund has announced the exit of its stake in The Mushara Collection. The fund invested back in 2021. Mushara is a luxury lodge at the Etosha National Park, large tourist destination in Namibia. Mushara offers a diverse collection of accommodation ranging from the stylish and child friendly Mushara Bush Camp, to the supreme luxury of the Mushara Villas.

Barka Fund has invested US$1 million in Orient Enterprises, a Kenyan macadamia processor and exporter operating an FSSC 22000-certified facility in Juja, Kiambu County. The company produces vacuum packed raw macadamia kernels, macadamia oil, and flavoured macadamia kernels under its Orient Chef brand, supplying local retailers and premium export markets across Europe, North America, and Asia. The blended investment, comprising $500,000 in preferred equity and a $500,000 structured working capital loan, will fund infrastructure upgrades, working capital, and agroforestry expansion.

Impact Fund Denmark is providing a US$22,5 million loan to African agribusiness group ETG. The investment will help ensure that thousands of African farmers gain access to fertiliser and markets, while also receiving fair prices for their crops. The investment is structured as a sustainability-linked loan, with the interest rate reduced if ETG meets a series of specific targets. These include increasing support for women farmers, expanding advisory services for farmers, and reducing deforestation and carbon emissions.

Pangea Africa and Black Star Africa have acquired a majority stake in Eden Tree, a producer and distributor of fresh, packaged fruits and vegetables in Ghana. The deal represents a secondary exit of I&P Afrique Entrepreneurs Fund from Eden Tree. Financial terms were not disclosed.

Angola has raised US$329 million through the initial public offering of a 15% stake in Unitel, the country’s largest telecommunications operator, marking one of the largest capital market transactions in its history. The offering attracted strong investor demand, with subscriptions exceeding the number of shares available by more than 20%. The IPO comprised the sale of 7,5 million shares, with the final offer price set at the top end of the bookbuilding range.

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