DealMakers AFRICA

Sahara Impact Ventures and Acumen have made an undisclosed investment in Ghanaian agritech, Wami Agro. Wami Agro connects Ghana’s smallholder farmers to finance, guidance and reliable markets.

Mediterrania Capital Partners has completed an investment in AFG Assurances, the insurance arm of Atlantic Group. AFG Assurances’ network comprises seven life and non-life insurance companies across West Africa, Central Africa and the Indian Ocean. It offers individuals and businesses a comprehensive range of products – motor, third-party liability, property, industrial risks, health and life – distributed through brokers, general agents and direct offices.

AgDevCo Ventures, the early-stage investment arm of specialist African agriculture investor AgDevCo, has invested US$3m as a mezzanine loan in Uganda’s Newman Foods. Newman’s is an agro-processor that turns locally grown crops into a range of value-added food products and also packs fresh fruits and vegetables. The company sources raw materials from over 3,000 smallholder farmers across Uganda and supplies thousands of formal and informal retailers. The investment will enable Newman’s to expand processing capacity, broaden its range of nutritious foods, and bring more smallholder farmers into its supply chain.

Morocco-based healthtech company ABA Life has signed a US$40 million investment agreement with Admaius Capital Partners. ABA Life, the healthcare arm of ABA Technology, has built an integrated and profitable model combining artificial intelligence, medical technology, telemedicine, connected health infrastructure and healthcare operations.

TLG Capital has closed a high-impact credit facility for Koolboks, which sells solar-powered freezers and appliances to traders, small businesses and corporate customers in Nigeria and beyond. The facility gives Koolboks working capital to meet that growing demand as it scales, funding the inventory needed to keep pace across African markets, and to grow its retail and appliance partnerships.

Continental Reinsurance Holdings has revised its planned Botswana Stock Exchange (BSE) initial public offering after major shareholder ACA Cornerstone agreed to retain its entire 14.8% stake rather than sell it. ACA Cornerstone, an existing shareholder vehicle controlled by the company’s promoters, has undertaken to retain the shares for at least five years after listing, subject to specified conditions. The change modifies the original August offering, which envisioned total proceeds of BWP2,13 billion (US$156,1 million), including BWP1,72 billion ($126,1 million) for selling shareholders and BWP409 million ($30 million) in new capital for the company. Continental Reinsurance continues to target $30 million in fresh capital, subject to subscription, but its latest announcement did not specify the revised value of the secondary share sale.

Pan-African payments infrastructure provider enza has completed a US$6,0 million Seed+ equity round to modernize bank payments processing across Africa. The financing was led by 4DX Ventures, British International Investment, and included participation by existing venture capital backers Quona Capital and Algebra Ventures, which co-led enza’s initial seed round in 2025.

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