DealMakers AFRICA
Proparco has provided a €5 million loan to Société Guinéenne de Produits Alimentaires (SOGUIPAL) in Guinea. The financing will support a €7,2 million investment programme aimed at expanding SOGUIPAL’s yogurt production facility in Coyah, on the outskirts of Conakry, and finance the working capital requirements associated with the increase in production. Beyond its financial support, Proparco is also helping SOGUIPAL strengthen its operational practices through a Technical Assistance program focusing on quality, health, safety and environmental (QHSE) issues.
Oryx Energies announced an agreement with Niangadou Distribution Compagnie SAU (NDC) for the sale of its downstream businesses in Mali, Côte d’Ivoire and Togo for an undisclosed sum. NDC, is an established Malian energy company with extensive experience in the importation, distribution and logistics of petroleum products, brings strong industry expertise and an in-depth understanding of the West African energy market.
British International Investment (BII) announced a US$7 million debt facility to Nigeria’s Okra Solar, a provider of mesh-grid technology for off-grid communities. BII’s financing will enable Okra to procure equipment for approximately 150,000 new connections, with the potential to provide electricity to 750,000 people in rural Nigeria for the first time.
Turuq, an Egyptian tech-driven logistics and fulfilment platform, announced a new seed investment round from Den VC. Turuq provides end-to-end fulfilment and logistics solutions for e-commerce brands, integrating real-time tracking, automated dispatching, and optimized courier routing. Financial terms were not disclosed.
Al Ahly Capital Holding has signed an agreement to buy El Sewedy Education Services Holding’s entire 40% stake in Cairo Misr for Educational Facilities, the company developing CIRA Education’s university project in New Damietta. The value of the deal was undisclosed.
Medikea, a Tanzanian healthtech startup has raised US$1,2 million in pre-seed funding to expand access to affordable healthcare and grow its network of clinics across the country. The round attracted investment from Baobab Network, Catalyst Fund, develoPPP Ventures, Madica, Impacc, Hustle Fund, O’Shaughnessy Ventures, Madiro, Boehringer Ingelheim Foundation and an unnamed angel investor.
Egypt-based climatetech startup NoorNation has closed a US$1,05 million seed funding round. Participants included Linah Farms, Catalyst Fund and Saudi firm KBW Ventures. NoorNation develops decentralised clean energy and water infrastructure for agricultural businesses, rural communities and other off-grid users in Egypt and Sub-Saharan Africa.
Angola-based fintech startup, CYTO, has raised US$40,000 in an angel round through Catalytic Africa’s co-investment model. The round combined $20,000 from Africa Business Angel Network (ABAN) investors with a matching $20,000 from timbuktoo, the pan-African innovation initiative backed by the United Nations Development Programme. CYTO builds software that automates invoicing, supplier validation, transaction reconciliation, and tax compliance into a single workflow.
African Export-Import Bank (Afreximbank) has disbursed a US$975 million financing facility to part-finance the Management Buy-Out of Oryx Energies SA (OESA), the holding company of Addax Energy SA. Oryx Energies chief executive Moussa Diao and trading manager Hervé Bouvet have acquired a majority stake in the Swiss energy group from founder Jean-Claude Gandur. The buyout values the company at $1 billion. Oryx operates across Africa’s downstream energy market through fuel imports, storage, distribution and retail, covering petrol, diesel, LPG, lubricants and marine fuels.
The APA Apollo Group announced the successful completion of its acquisition of a majority shareholding in Meticulous General Insurance Company Limited and Metro Life Assurance Company Limited in Tanzania.
DealMakers AFRICA is the continent’s quarterly M&A publication
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