CDcare launches online marketplace for users to buy appliances in instalments

NIGERIA – CDcare, a Nigerian startup, has developed an online marketplace that lets users buy appliances and pay in monthly or weekly instalments at zero interest. CDcare combines savings and loans features in its marketplace, allowing users to automate the payment of a monthly or weekly amount towards buying an appliance. When up to half of the cost of the item has been saved, it is shipped, and the automatic payments continue until full payment is made. All of this at zero interest. The bootstrapped CDcare, which is in the…

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Investor Transactional Capital begins WeBuyCars takeover discussions

SOUTH AFRICA – Investor group Transactional Capital has opened formal negotiations with WBC Holdings to acquire controlling shares in online, vehicle retailer WeBuyCars. The Johannesburg Stock Exchange -listed Transactional Capital announced that it’s seeking to increase its stake in WeBuyCars from the current 49.9% shareholding to 74.9% and take charge of the online retailer. WeBuyCars is a dealer in used vehicles in South Africa. The car dealer purchases used vehicles mainly from private sellers and then on-sells them to used car dealers and private consumers. In a note to shareholders,…

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Morocco’s BIM sells 35% minority shares to Blue Investment Holding

MOROCCO – BIM, a Turkish retail chain company, has announced the sale of 35% minority shares of the capital of its subsidiary in Morocco, Bim Stores SARL, to Blue Investment Holding, affiliated with British private equity fund Helios Investment Partners. BIM Morocco said that the total value of the sales stands at MAD 742.10 million (US$83.2 million), with the sales price per share standing at MAD 1,000 (US$112.83). BIM Morocco proceeded to the completion of its sales transaction with Blue Investment holding after both entities signed a sale and purchase…

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Health and beauty company Clicks to acquire Pick n Pay’s pharmacy business

SOUTH AFRICA – Health and beauty company Clicks, plans to acquire the retail pharmacy business of Pick n Pay, Clicks Group has said in a statement. Clicks is the largest retail pharmacy network in the country. The acquisition will include 25 in-store pharmacies that will be rebranded to Clicks which will take the national presence of the health and beauty retailer to 632 pharmacies. In terms of the proposed transaction, Clicks will acquire the pharmacy licences and ethical drug stock, while all staff employed in the pharmacies will transfer from…

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Paint manufacturer Crown Paints gets greenlight to issue additional shares to fund expansion

KENYA – Capital markets regulator Capital Markets Authority of Kenya (CMA), has given the nod to Crown Paints Kenya Plc to raise US$6.7 million from shareholders via purchase of additional shares. The regulator, in a statement, said it had approved the firm’s bid to issue and list 71,181,000 new ordinary shares on the Nairobi Security Exchange (NSE). “The rights will be issued on the basis of one new ordinary share for every one existing share,” noted CMA. The additional funds raised will boost the company’s financial flexibility to navigate through…

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Swedish engineering company Sandvik AB to acquire African OEM Kwatani

SOUTH AFRICA – Swedish mining and construction equipment and services company Sandvik Group will acquire African original-equipment manufacturer (OEM) of custom-engineered vibrating equipment Kwatani. The transaction is expected to be finalised in the fourth quarter of 2021, subject to regulatory approvals and other customary conditions. “Kwatani’s production facility, in Johannesburg, is set to become a global engineering and manufacturing base for vibrating screens and feeders for both local and international customers,” said Kwatani CEO Kim Schoepflin. “Customers in the vibrating equipment industry will benefit enormously from the combined resources of Sandvik and…

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BUA Group signs contract for the establishment of a polypropylene plant in its refinery

NIGERIA – BUA Group, an indigenous conglomerate, has announced that it has signed a contract agreement with Lummus Technology for the establishment of a polypropylene plant in its refinery and petrochemical project. The completion of the project is to help boost Nigeria’s capacity to meet the country’s increasing demand for petrochemical products. The Chairman of BUA Group, Abdul Samad Rabiu, while disclosing the contract agreement, expressed confidence in the capacity and technical expertise of Lummus Technology to deliver a best-in-class project. “We are pleased to sign this polypropylene contract for…

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Vumela Fund invests in South African kitchen equipment supplier Kombo King

SOUTH AFRICA – The Vumela Fund, established by FNB Business and Edge Growth, have announced a new investment in Kombo King, a South African kitchen equipment supplier focusing on the fried food niche market. Principal at Edge Growth and lead dealmaker Vuyiswa Nzimande said: “Consumer-centric product offerings are key to attracting customers in a highly competitive convenience food market. We view Kombo King fryers as an enabler to its clients to differentiate themselves in terms of quality, consistency and speed of service while increasing the client’s value proposition.” “Our commitment…

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John Deere names new dealers in Africa

SOUTH AFRICA – After recently announcing plans to expand its construction line-up into new markets, John Deere has announced its first three construction & forestry dealers responsible for the Southern African region. The new dealers are  AFGRI Equipment, Mascor, and Senwes Equipment. The machinery manufacturer says each of these dealer groups has made significant enhancements to their business models to serve construction & forestry customers and support the new product and service offerings. “Our approach is to leverage the John Deere brand and product power with the established and highly…

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Mastercard backs female-focused e-commerce platform Kasha of Rwanda

RWANDA – American multinational financial services corporation Mastercard, has announced a new investment in Rwandan female-focused e-commerce platform Kasha. The two institutions say they will continue their shared efforts to ensure women across emerging markets have essential access to health and personal care products along with the information required to support everyday hygiene needs. Launched in 2018 in Rwanda, Kasha is a platform that allows women across rural and urban locations to make confidential personal care orders. The platform later launched in Kenya in 2019. By utilizing the full product catalogue…

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