French company Canal+ increases its stake in pay-television operator Multichoice

SOUTH AFRICA – The French entertainment giant Canal+, which has steadily been buying shares in MultiChoice Group since 2020, has significantly increased its stake in the South African-headquartered pay-television operator to 26.26%. From around 6% in 2020, Canal+ built its stake to 15% by September last year. It reached 18.4% in mid-June, and 20.1% in by July this year. “MultiChoice…

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Fintech company Cellulant partners Orange Money to enable card-to-wallet transfers

BOTSWANA – Cellulant, a Pan-African fintech company, has partnered with Orange Money, the mobile money service of Orange to enable card-to-wallet transfers for 8 banks in Botswana. The Orange Money Card-To-Wallet service in Botswana enables customers to transfer money online from any bank account to an Orange Money wallet. The service is available to all Orange Botswana customers with bank…

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Algerian logistics platform GroDesto raises US$1.4m in public offering

ALGERIA – GroDesto, Algerian logistics platform, has announced that it has successfully raised 200 million DA (US$1.4M) through a public offering in order to become a joint stock company (SPA). GroDesto is an initiative to enable the distribution of consumer goods in Algeria. The startup consists of a mobile application and a website for logistics distribution. The project was awarded…

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Bidorbuy, uAfrica join forces to launch new e-commerce platform

SOUTH AFRICA – Online marketplace Bidorbuy has joined forces with e-logistics firm uAfrica to form Bob Group, a new e-commerce platform with a special focus on small businesses. Bob Group, a new merchant- and consumer-focused company, will offer everything e-commerce to all local consumers and companies operating online, whether they are looking to sell, buy – or both. Bidorbuy says…

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Nigeria-based Jubaili Agrotec secures US$35m financing from IFC to support farmers

NIGERIA – The International Finance Corporation (IFC) has offered a US$35 million financing package to Jubaili Agrotec, a Nigeria-based agrochemicals manufacturer and distributor, to increase smallholder farmers’ access to key input and boost food production to strengthen food security in sub-Saharan Africa. The bank said that the financing package would help Jubaili expand its production capacity in Nigeria, Ghana, Tanzania…

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mPharma completes acquisition of Nigerian pharmacy retail chain HealthPlus

NIGERIA – Africa’s leading patient-centered technology-driven healthcare company mPharma has completed its previously announced acquisition of Nigerian pharmacy retail chain HealthPlus Group, the firm announced on its website. mPharma announced that the Ghanaian healthtech company and the London-based private equity firm Alta Semper have signed an agreement leading to the acquisition of a majority stake in the HealthPlus Group. Under the terms…

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