Who's doing what in the African M&A space?

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Who's doing what in the African M&A space?
Credit: © Reuters.

DealMakers AFRICA

  • Asante Gold has entered into a share purchase agreement with Kinross Gold to acquire Kinross' 90% stake in the Chirano Gold Mine in Ghana. The total consideration to be paid by Asante is US$225 million. The Ghanaian government retains a 10% carried interest in Chirano.

  • Premier African Minerals, a multi-commodity mining and natural resource development company, has signed a binding joint venture agreement with Li3 Resources, a lithium focused exploration company, which will acquire a 50% stake in Premier's hard-rock lithium assets located in the Mutare Greenstone Belt in Zimbabwe. Li3 Resources has until December 2022 to acquire the stake by spending US$250,000 in further exploration works.

  • Apis Growth Fund I, a private equity fund supporting financial services and financial infrastructure businesses, has partially exited its position in off-grid solar energy company Sun King (formerly Greenlight Planet). Sun King announced a US$260 million Series D capital raise and as part of the transaction the Apis Fund sold the majority of its stake in the Nairobi-based company.

  • Kwely, a Senegalese B2B wholesale distribution startup for African made products to international consumers and buyers, has raised US$700,000 in a new round of funding led by WIC Capital. The funds will be used to support Kwely's marketing and distribution of more than 200 products, the launch of its B2B wholesale digital platform and packaging services facility.

  • OnePort 365, a digital freight forwarding company established in Nigeria, has secured US$5 million in seed funding. The company provides an operating system for cross-border trade in Africa. The round was led by Mobility 54, CFAO Group and the venture capital arm of Toyota Tsusho. Funds will be used to expand the team and to scale business to three major hubs across the continent before year-end.

  • Afriex, a Nigerian fintech startup providing a money transfer platform using blockchain to enable users to send funds by converting them into stablecoins (backed by reserve assets), has closed a US$10 million Series A round. The round was led by Sequoia Capital China and Dragonfly Capital. Funds will be used to expand its money transfer app.

  • Laboremus Uganda, a B2B fintech platform that enables banks and fintechs to verify their customers' identities and onboard them as customers, has received a seed investment from DOB Equity and FCA investments. The funds will be used to scale the platform in Uganda and into neighbouring markets by adding new product offerings by way of new channels and verification services.

  • Sayna, a Madagascar-based edtech and crowdsourcing platform, has completed its first seed funding round, raising US$638,000 from Launch Africa Ventures, Orange Ventures and the MAIC Investors Club. The funding will be used to finance several projects, scale into other markets such as Algeria, Cameroon and Cte d'Ivoire and, in time, to offer services in rural and suburban areas in France.

  • Farmerline, a Ghanaian agtech company, has secured US$6,4 million Pre-Series A investment and $6,5 million debt. The equity raise was led by Acumen Resilient Agriculture Fund and FMO, the Dutch entrepreneurial development bank with participation from the Greater Impact Foundation. Fund will be used to scale its AI capabilities and will invest in local infrastructure and logistics to support distribution and to scale the business across Ghana.

  • BluePeak, an Africa-focused mezzanine fund manager, has invested c.US$15 million in Africure, a pan-African pharmaceutical company with manufacturing and distribution hubs across East and West Africa. Funds will be used to develop a range of innovative affordable brands targeting chronic disease profiles.

  • 9jacodekids, a Nigerian edtech startup, has raised US$350,000 in seed funding to be used to boost capacity and equip more children with tech skills.

  • MTN (JO: MTNJ ) Nigeria has announced the issuance of a "127 billion Series 1 & 2 commercial paper on the Nigerian Exchange. The issuance is in line with its strategy to diversify financing options. The company will use the proceeds for working capital and general corporate purposes.

DealMakers Africa is the Continent's M&A publication.www.dealmakersafrica.com

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