DealMakers AFRICA

French digital health insurer, Alan, has acquired Tanel, a Dakar-based health technology company, in its first expansion into Africa. Tanel operates in Senegal and Côte d’Ivoire, serving about 70,000 members across more than 400 companies and connecting them to over 1,200 pharmacies and healthcare providers. Terms of the acquisition were not disclosed.

Jordan-based edtech Abwaab has acquired the Egyptian education technology startup Eduact for an undisclosed amount. Eduact provides software-as-a-service tools for independent educators and small learning centres. Its platform allows users to manage video content, grading and payments while connecting workflows across physical and online learning. Abwaab plans to integrate Eduact’s technology into its wider platform and use its regional reach to expand the product to more teachers and learning centres in Egypt and other markets.

WIOCC Group, a leading carrier-neutral digital infrastructure platform operating across Africa, announced the signing of a Shareholder Subscription Agreement with Africa Finance Corporation (AFC) and Vision International Investment Company (Vision Invest), through which the two investors will make a combined US$300 million investment in the company.

Dutch family-backed impact investor, DOB Equity has invested in Uganda’s Irrisol Engineering, a water infrastructure company providing safe, reliable and affordable water to underserved rural and peri-urban communities in Uganda through solar-powered water systems. The size of the investment was not disclosed.

All On through its Demand Aggregation for Renewable Energy Technology programme and Energise Africa have invested US$4 million in Maskh Nigeria to develop solar-powered mini-grids in 19 communities across Jigawa and Bauchi states in northern Nigeria. The investment will finance electricity connections for households, businesses, public institutions, and other productive-use customers that do not have dependable power and is expected to reach almost 100,000 people.

Egypt-based edtech startup 3C Coding School has raised US$3 million in a seed round led by MRG Economic Group, with participation from investor Amr Saad and a group of strategic angel investors. The funding will be used to enter the Saudi Arabian market, strengthening 3C’s technology infrastructure and accelerating the development and deployment of its AI-powered personalised learning platform.

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