DealMakers AFRICA

Savannah Energy PLC, the British energy company focused on projects in Africa, is to acquire Petronas International’s entire oil and gas business in South Sudan through the acquisition of Petronas Carigali Nile for a cash purchase consideration of up to US$1,25 billion.

PTS Investments, a US-based provider of x-tech solutions, has acquired a stake in EDAM Healthcare Services, a healthtech startup for an undisclosed sum. The investment will accelerate growth plans, supporting the development of EDAM digital platform with the company hoping to reach 2,5 million users by the end of 2023.

Two foodtech startups, Saudi-based Jumlaty and Egypt-based Appetito, have announced their intention to merge to create a new company NOMU. The aim is to become MENA’s leading foodtech supply chain platform. Financial details were not disclosed.

Legendary Foods Africa, a Ghanaian food-tech business producing a cost-effective, nutritious, resource-efficient and accessible form of protein, has received a growth equity investment from Baylis Emerging Markets. The growth capital is needed to accelerate expansion plans which include enhanced data-collection and production capacity and the extension of the product line and distribution channels.

Ascent Capital’s acquisition of a 75% stake in East African plastic manufacturer Acme Containers has been approved by the Competition Authority of Kenya.

Lagos-based furniture e-commerce startup Taeillo has raised US$2,5 million from Aruwa Capital a Nigerian early-stage growth equity and gender-lens fund. The funds will be used to scale its “Pay with Flexi” product, reduce delivery times by pre-manufacturing some of its product and increase market share.

Justyol, a Morocco-based e-commerce startup has raised US$350,000 in a pre-seed round from Earn Rocket Investment. A cross-border marketplace connecting the Turkish fashion market with MENA markets, Justyol will use the funding to invest in technical development, scale its marketing efforts and expand in the region.

Bitcoin mining company Gritless, which assists in bringing new energy generation to rural communities in East Africa, has secured a US$2 million seed investment in a round led by Stillmark and Block. Gritless designs, builds and operates bitcoin mining sites alongside small-scale renewable energy producers in rural Africa where excess energy is not utilised.

DealMakers AFRICA is the Continent’s M&A publication
www.dealmakersafrica.com