DealMakers AFRICA
Prembly, a Nigerian compliance and security infrastructure company, has acquired Tunnel, a data infrastructure and analytics company. The deal enhances Prembly’s suite of security solutions and expands its financial services capabilities in emerging markets, providing reliable identity verification through the integration of comprehensive financial data. Financial details were undisclosed.
Wilmar International, an agribusiness head-quartered in Singapore, has entered into an agreement with several Moroccan investors to dispose of its entire 30.5% equity stake in Cosumar S.A. Cosumar’s principal business is the production of sugar through the processing of sugar cane and sugar beet in Morocco. The cash consideration for the sale is c.US$605 million. In the same agreement, Wilmar will acquire from Cosumar, its 45% equity stake in Wilmaco for c.$8,7 million. Wilmaco produces, develops, processes, imports, exports and markets vegetable fats and their by-products.
888Africa, a joint venture between 888Holdings and a digital leadership group, has acquired Nairobi-based BetLion. The gaming operator which holds licences in Kenya, Zambia and the DRC was acquired for an undisclosed sum.
E-health startup, Nigerian Remedial Health, has secured US$12 million in equity and debt funding. The $8 million equity funding was raised from venture capital firms QED Investors and Ventures Platform. The $4 million debt funding was led by a consortium of local and international financial institutions. Remedial Health, which develops tech-enabled solutions to make Africa’s pharmaceutical sector more efficient, will use the funding to deepen the reach of its services across Nigeria and further develop solutions to drive greater efficiency across the pharmaceutical value chain.
Nigerian fintech Traction has raised US$6 million in a seed round from investors Multiply Partners, Ventures Platform, P1 Ventures and others. The funds will be used to accelerate its growth in Nigeria, strengthen the team and drive its expansion outside Nigeria.
DealMakers AFRICA is the Continent’s M&A publication.
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