DealMakers AFRICA

Adenia Partners has announced the acquisition of 12 Air Liquide subsidiaries in West and Central Africa. The entities and employees in Benin, Burkina Faso, Cameroon, Congo, Ivory Coast, Gabon, Ghana, Madagascar, Mali, Democratic Republic of Congo, Senegal and Togo will form a new, independent, pan-African industrial gases group. Financial terms were not disclosed.

Kenyan insurtech mTek has raised $1,25 million. The funding was secured from Verod-Kepple Africa Ventures and Founders Factory Africa and will allow the company to expand in both Kenya and the East African insurance market.

Mobility fintech Moove, has raised US$100 million in a Series B funding round led by Uber with participation from sovereign wealth fund Mubadala and several other investors. Mubadala led the $550 million debt and equity round announced in August last year. Moove plans to utilise the funds to expand its existing markets from 13 to 16. This latest funding values the fintech at $750 million.

Savannah Energy has consolidated it position in the Stubb Creek oil and gas field. The company has signed share purchase agreements with Sinopec International Petroleum Exploration and Production Services and Jagal Ventures to acquire 100% of Sinopec International Petroleum Exploration and Production Company Nigeria, which has a 49% non-operated interest in Stubb Creek, located in Akwa Ibom State. Universal Energy Resources, a Savannah Energy affiliate, is the 51% owner and operator.

Nigerian fintech Zone (previously Appzone) has raised $8,5 million in seed funding. The round was led by Flourish Ventures and TLcom Capital. The funding will be used to scale the fintech’s decentralised payment infrastructure.

Namibia Critical Metals has sold four non-material gold properties in Namibia to Sylla Gold Corp. Sylla will acquire the company’s 95% stake in its Namibian subsidiaries that own the rights, title and interest to the Grootfontein, Erongo, Otjiwarongo and Kaoko licences plus certain associated assets, Financial terms include 3 million Stylla common shares and a cash payment of US$100,000.

Acasia Ventures has led a six-figure bridge round in Egyptian healthtech, Pharmacy Marts. The Cairo-based digital marketplace aims to digitise the pharmaceutical industry’s supply chain to improve patient access to medication. The company currently covers 12,000 pharmacies across Egypt with over 200 suppliers on its platform.

Kenya’s NCBA Group has signed a $50 million facility with Proparco to help facilitate green financing and Women Economic Empowerment in Kenya. The funding will help NCBA deliver on its “Change the Story” sustainability agenda.

DealMakers AFRICA is the Continent’s M&A publication
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