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Maroc Telecom completes acquisition of Tigo Chad

Maroc Telecom has completed the acquisition from Millicom of 100 percent of its subsidiary Tigo Chad, following the agreement signed on 14 March. The acquisition aims to consolidate the presence [...]

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South African SME finance startup Lulalend raises $6.5M Series A

South African digital lender Lulalend has raised a $6.5 million Series A round co-led by IFC and Quona Capital. The Cape Town based startup uses an online application process and internal credit [...]

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Nigerian utility firm Arnergy raises $9m for renewable energy

A Nigerian utility firm, Arnergy, on Monday said it has raised $9 million in a Series A round of funding led by Breakthrough Energy Ventures and Norwegian Investment Fund for Developing Countries [...]

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Consonance leads on Seed Round for Nigerian Healthtech Company

Healthtech company MDaaS Global, which is building a network of tech-enabled diagnostic facilities in Nigeria, has closed on seed funding totaling US$1mn. Led by Consonance Investment Managers, [...]

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Vasari Beverages to invest $100m in African breweries

Alcoholic beverage investor Vasari Beverages has completed a $100-million capital raise to fund the expansion of its existing beverage operations in Ethiopia, as well as to pursue new [...]

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Naspers Invests in Africa Uber-Like Cleaning Service Startup

Naspers Ltd. backed on-demand housekeeping service SweepSouth, part of a commitment to invest almost $100 million in tech startups in its home market of South Africa. The 30 million-rand ($2.1 [...]

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Egypt Bus-App Swvl Raises $42 Million for African Expansion

Swvl, an Egyptian app for booking buses, has raised $42 million as it looks to expand into other parts of Africa, including Nigeria. The two-year-old company, which started in Cairo and also [...]

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Ecobank Says IFC Agrees to Sell 14.1% Stake to Dutch Co. Arise

Ecobank Transnational says the International Finance Corp. and investment funds managed by the IFC Asset Management Co. have entered into a share purchase agreement with Dutch investment firm [...]

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HAVAÍC invests into Kenyan virtual postbox startup, MPOST

Earlier this year, Taz Technologies Inc (trading as MPOST), concluded a pre-Series A first round of funding for an undisclosed amount with Cape Town based VC, HAVAÍC. Developed by Kenyan founders [...]

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Actis, Amaya Capital to Acquire 87-Megawatt Kenya Power Plant

Private equity firms seeking approval for deal, Energy and Petroleum Regulatory Authority Director-General Pavel Oimeke says by phone. * Melec Powergen’s Thika Power, the target, is a [...]

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Egyptian E-Nanny And Child Tutor Provider Secures $500k Funding

With a mobile phone and internet connection, you can get a nanny and child tutor for your child from Orcas, Cairo-based online hub for babysitters and tutors. The six-year-old startup has just [...]

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Equatorial Cross Buys 25.1% of Ghana’s Ayrton From Adcock Ingram

Equatorial Cross Acquisitions, a management consultant and investment holding company, has bought a 25.1% stake in Ghana’s Ayrton Drug Manufacturing from Adcock Ingram, Ayrton said in a statement [...]

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OMPE to invest in Footgear, a retailer of branded footwear in SA

Old Mutual Private Equity (OMPE), the direct private equity investing arm of Old Mutual Alternative Investments, today announced the acquisition of a majority interest in Footgear, a leading [...]

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Velocity Capital Announces €105m Global FinTech Venture Fund

Fund Focuses Exclusively on Startups in Financial Services, Spanning Europe, Africa, North America Velocity Capital announced today the launch of its €105M FinTech Ventures Fund dedicated to [...]

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