PE firm Adenia Partners acquires Kenya’s Red Lands Roses

KENYA – Adenia Partners, a private equity firm investing in Africa, has acquired a majority stake in Altilands SA, the parent company of Red Lands Roses, a leading grower of premium fresh-cut roses in Kenya. Red Lands is internationally recognized for its green horticultural practices that respect people and the environment. The financial terms of the transaction were not disclosed. Established in 1996 by an agronomist, Isabelle Spindler, Red Lands operates a farm of 28 hectares, 35 kilometers northeast of Nairobi, at approximately 1,565 meters above sea level. Red Lands’ premium…

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Vodacom super app VodaPay goes live

SOUTH AFRICA – Vodacom’s VodaPay Super App has officially gone live and is available to customers on any mobile network. Developed by Vodacom’s fintech arm, Vodacom Financial and Digital Services, the new app provides an ecosystem of third-party services that allow consumers to do everything from peer-to-peer payments to sending money and ordering takeaways, or making grocery purchases. Vodacom first announced the app in June 2021, when it invited developers and businesses to join its ecosystem by building their own “Mini Programs” on the mobile platform. The App is backed by Chinese-owned online payment…

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Kenyan tech startup MarketForce enters Nigerian market

NIGERIA – MarketForce, a Kenyan B2B platform for retail distribution of consumer goods and digital financial services, has entered the Nigerian market. For merchants, the B2B webshop can serve as a platform for planning procurement, ordering periodically scheduled deliveries, overseeing the execution of contracts, and such. Co-founded in 2018 by Tesh Mbaabu and Mesongo Sibuti, MarketForce is a B2B retail marketplace that empowers informal merchants in Africa to source, order and pays for inventory digitally and conveniently, access financing, collect digital payments. One can also make extra money by reselling…

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DP World joins forces with CDC to invest US$1.7b in African ports

AFRICA –  DP World, a multinational logistics company based in Dubai, has partnered with the UK’s development finance institution and impact investor CDC Group to create a US$1.7 billion investment platform aimed at modernization and expansion of ports and inland logistics across Africa, starting in the ports of Dakar in Senegal, Sokhna in Egypt and Berbera in Somaliland. Trade enabled through the ongoing expansions is expected to create an additional 138,000 employment opportunities in the wider economy and by 2035, the ports are expected to support stable employment for around…

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Murray & Roberts acquires JJ White to further its North America expansion

SOUTH AFRICA – Engineering and mining contractor Murray & Roberts Holdings (M&R) is acquiring US multi-trade contractor and engineering firm JJ White Incorporated for US$28.25 million as part of its strategy to diversify and expand the services of its energy, resources, and infrastructure business platform in North America. M&R subsidiary, Clough North America Holding, is acquiring all the shares in JJ White from James White IV and Trusts. “The acquisition builds an immediate robust entry into new territories and new markets and will leverage JJ White’s existing customer base to…

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Cellulant confirms Akshay Grover as Chief Executive Officer

KENYA – Fintech company Cellulant has announced that acting Chief Executive Officer (CEO), Akshay Grover, has been appointed as Group Chief Executive Officer and Director of Cellulant with effect from 1 October 2021. The appointment follows an executive search process following the announcement in January 2021 by then Group Chief Executive Officer Ken Njoroge of his intention to transition from his position. Akshay has been serving in an acting capacity since April 2021. “We are delighted to appoint an executive of Akshay’s calibre and experience to the role,” said Cellulant…

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