Ardagh Group acquires Consol Holdings Proprietary for US$635m

SOUTH AFRICA – Ardagh Group S.A. has announced the acquisition of Consol Holdings Proprietary Limited, the leading producer of glass packaging on the African continent, for an equity value of ZAR10.1 billion (US$635 million). Completion of the acquisition is subject to certain conditions, including regulatory approvals that are expected to be obtained in the second quarter of 2022. “We are very pleased to expand our European and North America presence in glass packaging into Africa with the acquisition of Consol, a high-quality business, led by an excellent management team,” Ardagh…

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Jumia taps former Britam Commercial Director Betty Mwangi as CEO

KENYA – E-commerce platform Jumia has announced the appointment of Betty Mwangi, as Kenya’s new Chief Executive Officer to take over from former boss Sam Chappatte. The company said Betty will focus on accelerating corporate growth. Betty is an engineer with 20 years of experience in the telecommunications, insurance, and pharmaceutical industries, she previously served as Group Commercial Director for Britam Group PLC from 2016 to 2021, a company she originally joined in 2013. She also worked as Director of Financial Services for Safaricom MPESA from inception in 2007 to 2016.  “Betty…

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Kimberly-Clark invests US$45m to manufacture Huggies Diapers in Kenya

KENYA – International Diaper Manufacturer, Kimberly-Clark, has signed an KSh5 billion (US$45m) contract deal to kick-start the production of Huggies diapers in a newly established factory in Thika. The firm entered an agreement with a local manufacturer, Sai Pharmaceuticals, to begin manufacturing and distribution of the diapers in the Kenyan market, in a move meant to invest in home-grown solutions Speaking during the announcement of the agreement, Kimberly Clark Business Development Director Middle East and Africa, Kevin Achieng elaborated that the move to manufacture the brand locally was aimed at…

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The Gambia ups stake in Shelter Afrique with US$19,200 additional capital payment

KENYA – The Government of Gambia has increased its stake in Shelter Afrique to 0.27% following payment amounting to US$19,218.96 in additional capital. The Gambia is now the 11th country to increase its stakes in the pan-African housing development financier Kenya, Tanzania, Cameroon, Mali, Rwanda, Uganda, Togo, Swaziland, Ivory Coast, and the Democratic Republic of Congo. “We thank the government of The Gambia for choosing to increase her stake in Shelter Afrique despite the prevailing condition, and in particular the Minister of Lands, Regional Government and Religious Affairs Hon. Musa…

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Marketplace Aura secures US$4m Series A funding for its expansion plans

SOUTH AFRICA – AURA, an African-based security and medical response marketplace, has secured US$4 million in a Series A funding round, which was led by MultiChoice Group (MCG), KLT Holdings and Buffet Investments. This positions AURA security and medical services favourably for its global expansion plans. Founded in 2016 by Warren Myers, Ryan Green and Adam Pantanowitz, AURA leverages artificial intelligence to enable access to private/public security and medical response units from any location. “South Africa has one of the most advanced private security and emergency response industries which has…

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E-commerce startup Efreshli raises US$550,000 to build on strong early growth

EGYPT – Efreshli, an Egypt-based home furniture e-commerce startup, has raised a seed round worth US$550,000 to help it build on strong early growth. The seed round was led by angel investor Tarek Sakr and property developer Marakez, with participation from other investors. The startup will now focused on strengthening its technology solutions and opening a first GCC location in 2022. Founded in early 2019 by Heba El-Gabaly, Efreshli is a technology-enabled furniture design and shopping solution that has created a new way for consumers in Egypt to shop for…

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Retail-tech startup Alerzo acquires payments platform Shago to boost growth

NIGERIA – Retail-tech startup Alerzo has acquired fintech company Shago Payments as it looks to build on already impressive growth that saw its annualized September transaction volume exceed US$155 million. Founded in 2019, the Ibadan-based Alerzo is an all-in-one technology and services platform that transforms how Nigeria’s informal retail stores operate. Retailers can order stock, have it delivered quickly, receive and make cashless payments, and track store profitability better. Alerzo currently works with more than 150,000 informal retail stores. The startup announced a US$10.5 million Series A round, led by London-based Nosara…

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Grit Real Estate to acquire Orbit Africa facility in Kenya

KENYA – Mauritius-based Grit Real Estate Income Group has secured funding of US$31.5 million for the acquisition, expansion, and redevelopment of the Orbit Africa warehousing and manufacturing facility in Nairobi, Kenya. The funding was secured from Mezzanine Partners GP Proprietary Limited and BluePeak Private Capital with backing from an International Finance Corporation (IFC) debt facility. “The total purchase consideration of US$53.6 million will be settled by way of US$25 million in senior debt finance negotiated with the International Finance Corporation, a member of the World Bank Group, and US$28.6 million…

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Kenyan tech startup MarketForce enters Nigerian market

NIGERIA – MarketForce, a Kenyan B2B platform for retail distribution of consumer goods and digital financial services, has entered the Nigerian market. For merchants, the B2B webshop can serve as a platform for planning procurement, ordering periodically scheduled deliveries, overseeing the execution of contracts, and such. Co-founded in 2018 by Tesh Mbaabu and Mesongo Sibuti, MarketForce is a B2B retail marketplace that empowers informal merchants in Africa to source, order and pays for inventory digitally and conveniently, access financing, collect digital payments. One can also make extra money by reselling…

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Digital retail bank TymeBank partners retail giant TFG to provide an alternative payment option

SOUTH AFRICA – TymeBank, a digital retail bank, has announced that it has entered into a strategic partnership with The Foschini Group (TFG), a leading retail giant. The partnership will see the introduction of TymeBank financial products and services both instore and on digital platforms for the benefit of TFG’s more than 26 million customers in South Africa. It should be noted that TymeBank currently has just over 3.8 million customers. “TFG houses some of South Africa’s most popular and well-established consumer brands and is renowned for its retail strength…

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