Egypt’s Gameball Raises USD3.5m Seed Round
Egypt-based CRM platform Gameball raised a USD3.5m seed round from 500 Global, P1 Ventures, Launch Africa, Seedra Ventures, Arzan Ventures and others. Read more… Read More
Adiwale Partners and I&P Acquires Minority Stake in Ghana’s VoltaCars Rental Services
Adiwale Partners and Investisseurs & Partenaires (I&P) acquired a minority stake in VoltaCars Rental Service (VRS), a Ghana-based vehicle leasing company. Adiwale acquired VRS through its maiden Adiwale Fund I, which reached a EUR60m final close in 2021 and targets growth capital investments in West Africa’s SMEs. … Read More
AfricInvest Invests in Nigeria’s Justrite
AfricInvest, through its fourth flagship fund, invested in Nigeria-based retail chain Justrite. Read more… Read More
Lion’s Head EIF To Provide ~USD8m Credit Facility in Mali’s SolarX
The Energy Inclusion Facility (EIF), managed by Lion’s Head Global Partners, agreed to provide a EUR7.5m (~USD8m) credit facility for SolarX, a Mali-based developer of commercial and industrial (C&I) solar power plants. Read more… Read More
Ghana’s Jetstream Africa Raises USD13m in Equity and Debt Pre-Series A
Jetstream Africa, a Ghana-based supply chain platform, raised a USD13m equity and debt pre-Series A. Cauris Management and Proparco led the debt financing, and equity investors included Octerra, Wuri Ventures, Seed9, The MBA Fund and ASCVC, with follow-on from Alitheia IDF and Golden Palm. Read more… Read More
BioNTech To Acquire Tunisia’s VC-Backed InstaDeep for ~USD387m
Nasdaq-listed BioNTech agreed to acquire InstaDeep, a Tunisia-founded, UK-based AI industrial decision-making platform backed by AfricInvest, Endeavor Catalyst and others, for EUR362m (~USD387m). Read more… Read More
SPE Capital Acquires Majority Stake in Tunisia’s Vital
SPE Capital, through its Africa Industrialization Fund I, acquired a majority stake in Vital, a Tunisia-based nutritional supplements producer. Read more… Read More
Amethis Exits Disway Tunisia to Parent Company
Amethis fully exited wholesale computer hardware and software distributor Disway Tunisia to its Morocco-listed parent company Disway. Capital North Africa Venture II first invested in Disway Tunisie in 2015, and Amethis took over management of the fund from Capital Invest in 2018. Read more… Read More
Amethis Exits Mauritius’s CIEL Finance
Amethis exited CIEL Finance, the banking and financial services division of Mauritius-listed CIEL Group, through a share buyback. Read more… Read More
Verod Capital Management Exits Daystar Power Group
Verod Capital Management, through its Verod Capital Growth Fund II, fully exited Daystar Power Group, a hybrid solar power developer operating in West Africa, via a sale to Shell. Verod first invested in Daystar in 2019. Read More… Read More
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