Energy & mobility · Kenya
Kenya’s Mobius Motors acquired by Silver Box in rescue deal
Silver Box acquires the Kenyan automaker following its financial crisis.
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M&A
Reporting filed under M&A.
Showing 1–20 of 20 articles
M&A
Motorola Solutions Acquires RapidDeploy, Aims To Expand Its Portfolio In The Critical Emergency Response
For Motorola Solutions, the addition of RapidDeploy’s cloud-native expertise strengthens its hand in this evolving landscape and reinforces its commitment to providing comprehensive public safety solutions.
M&A
Waves of Change: Senegal’s Largest E-Ticketing System Now Controlled By FinTech Unicorn Wave
Wave accounts for 90% of the adult population with a Wave account. The company achieved unicorn status in 2021 after raising $200 million in Series A funding, becoming the first French-speaking African unicorn.
M&A
Finimo Founders Sell Fintech Derivate Exipay To Stitch Two Years After Launch
At the time of acquisition, ExiPay held existing contracts with several enterprise clients and PSPs operating in South Africa and other African markets, including omnichannel retail brand Bash. With this acquisition, Stitch will serve Bash for both their online and in-person payments needs, and will continue serving other existing ExiPay clients.
M&A
Ignite Power Acquires ENGIE Energy Access In Major African Solar Deal
Ignite Power was founded in 2014 by Yariv Cohen, who pursues the mission of providing solar-powered life-enhancing solutions to some of the continent’s most underserved communities.
M&A
Egypt’s Raseedi Eyes 5-minute Loans Following Kashat Acquisition Deal
With the acquisition of Kashat, Raseedi will be able to offer cash loans of up to EGP 3,000 (approximately $95) to small business owners and sole proprietors, an amount that will be scheduled for disbursement within five minutes
M&A
Expensya Founders Walk Out On Company After Medius Acquisition, Set Eyes On New AI Venture
In his farewell announcement, Jouini expressed pride in Expensya’s achievements and gratitude to colleagues, investors, and partners who contributed to its journey.
M&A
Egypt’s Money Fellows Onboards Key Partner, Accelerates Morocco Expansion Efforts
Network International will utilize its extensive pan-regional experience to support Money Fellows’ expansion into Morocco and the wider African region.
M&A
Egypt’s Nawy Acquires ROA, Aims To Expand Real Estate Services
Nawy will be able to make use of ROA’s capabilities in improving its service portfolio while helping property owners to maximize their investments.
M&A
Smollan Acquires Yebo Fresh, Aims To Drive Growth In Township Communities
This partnership is projected to address the needs of South Africa’s informal market, valued at over R184 billion annually, by improving efficiency, accessibility, and market insights.
M&A
MTN Joins The Space Internet Fray With LEO Satellite Partnership
The idea of a partnership with LEO satellite providers comes off the back of the recent MTN 5.5G trials, which is the first of its kind in Africa.
M&A
Starlink Gets Approval To Launch Its Internet Services In Chad
Chad’s Communications Minister, Boukar Michel, emphasised the importance of this partnership, stating, “A large part of our territory is not covered by fibre optics, and I believe that Starlink will help us bridge this gap.”
M&A
Starlink Halts New Sign-ups Amid Network Congestion
“No roaming plans are available in Kenya at this time. Starlink is working to restore service in the disrupted areas and a notification will be sent once the residential plan is back,”
M&A
IHS Towers Gets $439 million loan to Refinance debt and support Operations
Africa’s largest telecommunications company, IHS Towers has reportedly gotten a $439 million loan to manage currency risks and support its operations across multiple regions. According to reports, virtually half of the loan comes in South African Rand, while the other half is in USD ($255 million). Both parts of the loan come with a 4.50%
M&A
KETRACO, Adani Sign Landmark $736 Million Deal For Kenyan Power Transmission Lines
“This agreement initiates a transformative effort to develop, finance, construct, operate, and maintain essential transmission lines and substations across Kenya.”
M&A
Transportation Startup LULA Acquires Zeelo’s South African Branch
LULA has taken over the South African branch of the US-based staff bus-sharing startup Zeelo in an acquisition of undisclosed amount. LULA is a ride sharing platform dedicated to serving office workers. Zeelo launched in South Africa in the year 2019 and has raised $33 million in funding. It has completed more than 2 million
M&A
IHS Towers Lays Off 100 Employees as Profit Margins Decrease
Currency devaluation results in $1.9 billion in losses in the 2023 fiscal year
M&A
Hohm Energy Enters Business Rescue Months After $8 Million Raise
Inability to service debts, cash flow problems, and electricity stability cripple Hohm Energy
M&A
Bamburi’s Largest Shareholder Sanctions $182.8 Million Sale To Amsons Group
Bamburi‘s biggest shareholder has approved a $182.8 million buyout offer from the Amsons Group. Holcim, the shareholder company in question, is a Swiss construction materials manufacturing company. It has made the decision to sell its 58.6% stake in Bamburi, Kenya’s biggest cement maker to Amsons, a Tanzanian energy group. Bamburi boasts of being the largest
M&A
Peleza Merges With Prembly, Forms Prembly Group
Peleza, the Kenyan identity management startup has merged with YC-backed Prembly. The outcome of this merger is a new business entity known as the Prembly Group. The move follows a long period of collaboration between the two partners during which they realized that a permanent merger would enable cost-saving and enhance revenue growth from joint