DealMakers AFRICA
Renew Capital has made its first investment in Mozambique. The impact investment firm is backing fintech startup, Roscas. The value of the investment was not disclosed.
The Fund for Export Development in Africa (FEDA), the impact investment subsidiary of Afreximbank, has invested in Bloom Africa Holdings Limited, a regional financial services platform operating across West Africa. The company has stakes in multiple financial institutions in Gambia, Sierra Leone and Liberia which operate as Bloom Bank Africa.
Sun International is to dispose of 43.3% of its 49.3% equity stake and 100% of its loan account in Tourist Company of Nigeria (t/a Federal Palace Hotel) to Nigerian Rutam Finance for an aggregate cash consideration of US$14,55 million. The remaining 6% equity interest held by Sun International will be sold in due course. The transaction is in accordance with the company’s stated intention and strategy to exit its investment in Nigeria.
Kenyan Insurtech Pula, has closed a US$20 million Series B led by BlueOrchard. Other investors include the IFC, the Bill & Melinda Gates Foundation, Hesabu Capital and existing investors.
Nigerian B2B e-commerce platform, OmniRetail, has announced the first investor for its newly launched Series A – Goodwell Investments, via its uMunthu II fund. The impact investment firm did not disclose the size of the investment.
Sahel Capital has approved a US$2,4 million working capital loan to Ghanian Licensed Buying Company, Kuapa Kokoo Limited. The loan will be provided by the Sahel Capital Social Enterprise Fund for Agriculture in Africa facility.
Inua Capital has invested in Uganda’s Forna Health Foods, the manufacturer of Aunt Porridge and Instapol. This is one of the first investments from Inua’s GLI impact fund. Forna Health Foods is a female-founded and female-led business that boasts a female workforce of about 65% and focuses on mothers and children as their core customers.
DealMakers AFRICA is the Continent’s M&A publication
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