Metier Private Equity sells stake in Bokpoort Concentrated Solar Power to Revego Africa Energy for US$14.2m

SOUTH AFRICA- Metier  Private Equity, has sold its 12% stake in the 50 MW Bokpoort Concentrated Solar Power (CSP) asset in the Northern Cape to Revego Africa Energy for US$14.2m Bokpoort CSP is one of South Africa’s premier CSP projects and fulfils Revego’s mandate of investing in operational, dividend-earning renewable assets. Bokpoort CSP is a 50MW plant which is run as an independent power producer, with Saudi Arabian based ACWA Power International acting as the operational partner. Bokpoort CSP was one of the first CSP projects in South Africa under…

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Verizon Communications to dispose of Yahoo, AOL in US$5b mega-deal

WORLD – US-based telecoms company Verizon Communications is disposing of its media businesses, which include Yahoo and AOL, for US$5 billion. In a press statement, Verizon and Apollo Global Management announced that funds managed by affiliates of Apollo entered into an agreement to acquire Verizon Media for US$5 billion. Verizon will retain a 10% stake in the company, which will be known as Yahoo at close of the transaction and continue to be led by Chief Executive Officer Guru Gowrappan. One of the world’s premier global technology and media companies, Verizon Media…

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I&M Holdings completes acquisition of Ugandan lender Orient Bank

UGANDA – I&M Holdings Plc. has completed the acquisition of 90 percent shareholding in Uganda’s privately-owned lender Orient Bank Ltd (OBL) as part of its regional expansion plan. In a press statement, I&M said the acquisition was completed on April 30, 2021 after the transaction received the necessary approvals from the Central Bank of Kenya, Bank of Uganda, Capital Markets Authority of Kenya and the Common Market for Eastern and Southern Africa (COMESA). The agreement for the deal priced at US$26.93 million was made in July 2020. “I&M Group aspires to…

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Integrated Customer Experience platform for businesses Ajua acquires Kenya-based AI platform WayaWaya

KENYA – Ajua, the integrated Customer Experience Management solution for businesses in Africa, has acquired WayaWaya, the Kenya-based Artificial Intelligence [AI] and Machine Learning [ML] known for its innovative Janja platform, that enables borderless banking and payments across apps and social media platforms, for an undisclosed sum. WayaWaya founder and lead Janja product builder, Teddy Ogallo, will now join Ajua as VP of Product APIs and Integrations. The acquisition of WayaWaya allows Ajua to integrate Janja to automate much of the customer experience journey by integrating janja.me product into their…

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E-mobility start-up Ecobodaa secures funding round from Persistent Energy Capital

KENYA – Ecobodaa, an e-mobility start-up working to roll out electric motorbike taxis, has raised a round of funding from Persistent Energy Capital to help its growth ambitions. Founded in 2020 by Kim Chepkoit and Steve Juma, Ecobodaa aims to provide more affordable, safer, connected and environmentally-friendly means of transportation for commuters in African cities, and works on a rent-to-own model so that its riders can eventually own the electric powered motorcycles.  The start-up, which was last year selected for the Nairobi-based Africa Transformative Mobility Accelerator, has now raised a round of funding from Persistent…

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Seacrest company Azinam acquires 50% interest in Block 2B offshore South Africa

SOUTH AFRICA – Azinam South Africa Ltd (ASAL), a Seacrest company, has announced the completion of its acquisition of a 50% operated interest in Block 2B offshore South Africa Under the terms of the company’s farm out agreement with Africa Energy Corp, ASAL has acquired a 50. 0% participating interest in Block 2B and become the Operator of Block 2B on behalf of the joint venture partners. Africa Energy Corp will retain a 27.5% participating interest in the block. Simultaneously, Panoro Energy has become a 12.5% participating interest holder on…

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TLG Capital begins private placement partnership plans with Calbank Ghana

GHANA – TLG Capital, a permanent capital investment vehicle, has announced that it is commencing a private placement partnership with Calbank Ghana, through its Africa Growth Impact Fund (AGIF). CalBank is Ghana’s leading independent bank, which commenced operations in July 1990, and is considered one of the most innovative banks in Ghana. For over three decades, CalBank has been a pillar of strength for the Ghanaian financial services sector. The bank is passionate about community involvement activities and believes in investing and developing the community. Since inception, the bank strongly…

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Allied Electronics Corporation acquires information security specialist Lawtrust from tech firm Etion for US$17m

SOUTH AFRICA – Allied Electronics Corporation (Altron). has revealed that it has acquired digital trust services and cyber information security solutions company Lawtrust from Etion for US$17 million, to position itself as a one-stop-shop for all that its digital and information security. The acquisition was still subject to South Africa’s Competition Commission approval. Altron chief executive Mteto Nyati said security was one of their key growth areas, in addition to Cloud, Data and Automation. “What differentiates Lawtrust is the level of intellectual property they own and an annuity base of…

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Axian Group led consortium signs an agreement to acquire Millicom telecom’s operations in Tanzania

TANZANIA – A consortium led by Pan- African group Axian, has signed an agreement with Millicom, an international telecommunications and media company, regarding the sale of its shares in Tigo Tanzania and Zantel in Zanzibar. The completion of the transaction is subject to customary closing conditions and regulatory approvals. The Axian-led alliance brings together distinguished experts in mobile communications, who have created and developed industry-leading brands in the Indian Ocean, Africa. Axian Group is a recognized pan-African infrastructures and services champion with strong entrepreneurial values and culture, focusing on long-term…

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Palm Hills Developments acquires 28% stake in Palm Hills Education from MMID

EGYPT – Palm Hills Developments, a leading real estate company in the Egyptian market, through its Board of Directors, has approved the purchase of a 28.16% stake in its education subsidiary, Palm Hills Education, from Mansour-Maghraby Investment and Development Company (MMID) for EGP 4.195 bilion (US$267m). The Board also approved the purchase of MMID’s 11% stake in East New Cairo for Real Estate Development, estimated at EGP 11 million (US$0.7m). This preliminary figure does not include the monetisation of Botanica or the commercial areas in Palm Hills New Cairo, Palm…

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