US-based Bevy acquires event management software startup Eventtus

EGYPT – Egyptian event management software startup Eventtus has been acquired by Bevy an US-based enterprise software startup for virtual conferences and community events. According to MENAbytes, the financial details of the transaction were not disclosed but Eventtus said that it was a ‘good deal’ for everyone involved – including the investors of Eventtus. Mai Medhat and Nihal Fares who had founded Eventtus in 2012 are joining Bevy’s leadership team as Vice President of Innovation and Director of Product respectively as a result of the acquisition. The rest of the…

Read More

Solar startup Pawame secures US$2.45m in grant and equity funding for geographic expansion

KENYA – Pawame, a solar energy startup, has raised US$1.7 million in grant capital and an additional US$750,000 in equity funding to finance its geographic expansion. Founded in 2016 by Alexandre Allegue, Majd Chaaya and Nick Sparks, Pawame allows customers to access solar home systems via a pay-as-you-go (PAYG) subscription model, and also helps them to obtain micro-loans via their mobile phones. The startup offers a portfolio of innovative, high-quality solar home systems in remote areas of Kenya on a micro-financed basis, using mobile money repayment and the business model also uses…

Read More

Savannah Petroleum in talks to buy ExxonMobil’s asset portfolio in Chad and Cameroon

CHAD-CAMEROON – Savannah Energy, the African’s oil, and gas industry-focused British independent energy company, is in advanced exclusive discussions with ExxonMobil with respect to the proposed acquisition of its entire upstream and midstream asset portfolio in Chad and Cameroon. The proposed acquisition would include a 40% operated interest in the Doba Oil Project, and an effective approximately 40 percent interest in the Chad-Cameroon oil transportation pipeline.  In 2020, the Doba Oil Project produced an average gross of 33.7 thousand barrels per day (Kbopd), and the Chad-Cameroon pipeline transported a gross of 129.2 Kbopd. If completed on…

Read More

Airtel Africa sells tower portfolio in Tanzania to SBA Communications led joint venture for US$175m

TANZANIA – Telecommunications company Airtel Africa, has sold its tower portfolio in Tanzania to a joint venture in a transaction valued at approximately US$175 million. In a statement released to the media, the deal is described as the largest strategic divestment of the Group’s tower portfolio as it focuses on an asset-light business model and its core subscriber-facing operations. Airtel Africa provides telecommunications and mobile money services in 14 African countries including DRC, Nigeria, Zambia and Uganda. According to the company, its tower portfolio in Tanzania comprises about 1,400 towers…

Read More

PE firm Adenia acquires life sciences distributor Africa Biosystems

KENYA – Adenia Partners, a private equity firm investing in Africa, has announced it has completed the acquisition of Africa Biosystems Limited (ABL), a leading distributor of life sciences and clinical diagnostics equipment in East Africa. Financial terms of the deal were not disclosed.  Established in 1999, ABL is headquartered in Kenya with subsidiary offices in Uganda and Tanzania. The Company’s instruments are used to conduct research and diagnosis across the animal, human and crop sectors with product applications that span molecular, cell and protein biology and DNA forensics. ABL’s…

Read More

Mining company Afrimat diversifies further with acquisition of near-development manganese project

SOUTH AFRICA – Black empowered open pit mining company Afrimat, has entered into a purchase agreement with Aquila Steel and Rakana Consolidated Mines for the acquisition of a 100% stake in the Gravenhage manganese mining right and associated assets near Hotazel, in the Northern Cape, South Africa. Afrimat CEO Andries van Heerden says the greenfield, near-development project, with a life-of-mine of more than 20 years, is one of the last independently owned, undeveloped manganese deposits in South Africa. The manganese mine is situated about 50 kilometres  north of Hotazel and about 120…

Read More

Mining company Seriti to conclude acquisition of South32 coal assets

SOUTH AFRICA – Coal mining company  Seriti Resources, has released a statement indicating that all conditions of its acquisition of South32 SA Coal Holdings Proprietary Limited (SAEC) have been fulfilled and the sale is expected to be completed on 1 June 2021. The new shareholders of 100% of SAEC will be Seriti Resources (90%), and the SAEC Employee and Community Trusts (5% each). Since signing the transaction in November 2019, it has been subject to various conditions precedent that have required, amongst others, the approval of the Competition Tribunal, the…

Read More

Safaricom gets 56% stake in Global Partnership for Ethiopia consortium

ETHIOPIA – Mobile network operator Safaricom,  has raised its controlling stake in Global Partnership for Ethiopia, the consortium that has made a bid for one of two telecoms licences in Kenya’s northern neighbour, to 56 percent from the 51 percent. The details of the consortium’s latest ownership structure were disclosed by South Africa-based Vodacom Group which owns a 34.9 percent stake in the Nairobi Securities Exchange-listed telco. “The consortium is 56 percent owned by Safaricom, 6 percent by Vodacom, 25 percent by Sumitomo the Japanese conglomerate and 10 percent by CDC, the…

Read More

Kenya’s competition regulator clears Raysut Cement’s 60% stake sale to Chinese firm Zou Fengqi

KENYA – Omani cement manufacturer Raysut Cement, which has market presence in Tanzania, Somalia and Sudan and had been eyeing to acquire ARM Cement, wants to sell 60 percent stake to a Chinese firm, Zou Fengqi. The Competition Authority of Kenya (CAK) has exempted the two from filing a notification before it, saying the transaction meets the threshold under the Competition (General) Rules, 2019. Firms trading regionally are by Kenyan law required to seek regulator’s approval for acquisitions and mergers “The acquirer (Zou) had no assets or turnover for the…

Read More

Sasol agrees to sell 30% interest in ROMPCO to an acquisition vehicle

MOZAMBIQUE- Energy and chemical company Sasol South Africa (SSA), a subsidiary of Sasol, has concluded a sale and purchase agreement (SPA), to sell a 30% equity interest in the Republic of Mozambique Pipeline Company (ROMPCO), subject to pre-emptive rights by other shareholders. In a statement, Sasol said ROMPCO is a joint venture between SSA (50%), Companhia Mocambiçana de Gasoduto S.A. S.A.R.L (CMG) (25%) and South African Gas Development Company (SOC) Limited (iGas) (25%). The joint venture owns the 865km gas transmission pipeline from Mozambique to South Africa. The company said…

Read More