Africa Deal Tracker November 2020

In association with African Business Magazine, market leaders in providing country supplements, industry reports and market intelligence on Africa.
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Deal news


Vantage Capital invests $28m in CIM Holding

Vantage Capital, the mezzanine fund manager, has made a $28m equity investment to acquire a significant minority shareholding in the Cliniques Internationales du Maroc Group. CIM, founded in 1994 by Assad Chaara, is one of Morocco’s largest healthcare groups.

Goodwell leads $2.1m investment in Zambian agribusiness company

Good Nature Agro closed a $2.1m funding round led by Goodwell Investments with participation from existing investors Global Partnerships and FINCA Ventures. Good Nature Agro partners with smallholder farmers to improve their productivity through soil enriching legume farming and links them to high-value markets. Goodwell Investments have launched a Belgian $100m finance products including equipment for retail shops, agriculture and mobility assets.

Actis acquires $140m stake in fibre network Octotel

Actis has agreed to buy a controlling stake in Cape Town-based fibre broadband network operator Octotel. Octotel offers line rental services to internet service providers allowing high speed data connectivity in homes and businesses.

Tugunde closes $6.3m Toyota Tsusho-backed investment round

Based in Uganda, Tugende uses asset finance and technology to help MSMEs own income-generating assets. Tugende will use the capital to enhance its tech platform and to further grow its core financing product for motorcycle taxi drivers and accelerate its diversification into other MSME asset finance products including equipment for retail shops, agriculture and mobility assets.

InfraCo buys $10m Acorn hostels stake

InfraCo Africa is set to buy a $10m stake in student hostels developed by Acorn Holdings. InfraCo is among several investors approached by Acorn to invest in new vehicles that will own the properties. Acorn is creating a development real estate investment trust which will build the student hostels.

Proparco extends $60m loan to telecoms infrastructure company

Proparco have granted a $60m loan to the West Indian Ocean Cable Company (WIOCC), a pan-African telecoms infrastructure company. The loan will support WIOCC’s expansion plan in East and Southern Africa.

Vuna Partners delivers on deal to acquire 80% of 4PL Group in South Africa

Vuna Partners Fund announced its acquisition of an 80% equity stake in 4PL Group, with the remaining 20% shareholding held by the management of 4PL Group. Headquartered in Irene, Pretoria, 4PL Group is an integrated supply chain company providing end-to-end logistics solutions that span road, rail, sea and air freighting.

Acumen and FMO back Easy Solar’s $5m funding round

Easy Solar, a solar company in West Africa, has closed a $3m equity funding round led by Acumen and FMO in addition to a $2m debt.

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