Edtech startup GOMYCODE US$8m Series A funding from AfricInvest to help it expand

TUNISIA – GOMYCODE, a Tunisian edtech startup, has announced the completion of a US$8 million Series A financing. The early-growth round was co-led by AfricInvest, through its Cathay AfricInvest Innovation Fund (CAIF), and Proparco, a French-based development finance firm. GOMYCODE’s total funding now stands at US$8.85 million. In October 2020, it raised US$850,000 in startup funding. Wamda Capital, one of…

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Titan Trust Bank secure US$300m from Afreximbank for its acquisition of UBN

NIGERIA – Titan Trust Bank (TTB) has received a US$300 million Intra-African Investment Financing Facility from Afreximbank to help it acquire a controlling share in Union Bank of Nigeria (UBN) plc. The agreement, according to Amadou Sall, Afreximbank’s Media Contact, will improve the competitive dynamics of the Nigerian banking market while retaining confidence in the country’s financial services and overall…

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Insurer Santam acquires additional 49% stake in insurtech JaSure

SOUTH AFRICA – Santam, short-term insurer, is increasing its interest in insurance technology (insurtech) company JaSure by acquiring the remaining 49% shareholding. In a statement, the insurer says the move is aimed at enhancing its digital offering. In 2020, Santam acquired 51% shareholding in JaSure. The company says the buyout is a significant growth enabler that will realise digital offerings…

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Investment company Lionshare Group announces transactions in fuel industry

SOUTH AFRICA – Lionshare Empowered Partners, an investment holding company and part of the Lionshare Group, has recorded two key transactions in the fuel retail industry totalling R1.6 billion (US$104.42m). Lionshare Empowered Partner invests into agriculture, integrated energy, manufacturing, services, and impact investments sectors in line with the broader economic recovery and growth strategies of the country. In the first…

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Centum Investment to sell its 83.4% stake in Sidian Bank to Access Bank

KENYA – Access Bank Plc, a Nigerian multinational commercial bank, has entered into an agreement to acquire the entire 83.4 percent equity stake held by Centum Investment Plc, a Kenyan-based investment company, in Sidian Bank Ltd, for the sum of US$37 million. Access Bank, in a statement, said that the purchase consideration includes the price to book multiple of 1.1x…

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Electric motorcycle company Ampersand partners Totalenergies to launch charging stations in Kenya

KENYA – TotalEnergies has partnered with Ampersand, a Rwandan-based company, to launch an electric motorcycle battery swapping and charging stations in Kenya. With nearly 400 bikes on the road and 35,000 swaps per month, Ampersand is pioneering the switch to electric motorbikes which they believe will save on fuel and maintenance while doubling the boda boda drivers’ income. Ampersand aims…

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