Adenia Partners, AFD Group set to acquire Overseas Catering Services

MOROCCO – Private equity firm Adenia Partners has partnered with Proparco, the private sector financing arm of Agence Française de Développement Group (AFD Group), to buy Overseas Catering Services (OCS). The investment, which is Adenia’s first in Morocco, will support OCS’s organic and external growth and deliver on the management team’s objective to develop a leading platform in the catering and facilities management market. Adenia and Proparco will work closely with the company to apply best-in-class business and ESG practices. “We are thrilled to open our Morocco office and establish…

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Fintech Flutterwave acquires digital online platform Disha to grow its base

NIGERIA – Flutterwave, a fintech company, has acquired digital online platform Disha, that enables digital creators to curate, sell digital content, portfolios and receive payments from their audience worldwide. Flutterwave’s acquisition aims to improve the process of digital content creation for Disha users, enabling them to earn value for their creativity using the platform’s new payouts and collections solution. Disha has acquired over 20,000 users organically over 12 months. The acquisition will help grow its base by providing users with the ability to make, receive and withdraw money from their…

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Education finance company Fundi acquires edtech company EduOne

SOUTH AFRICA – Fundi, an education finance and education fund management solution specialist, has acquired EduOne, a South African education technology company. Started in 2015 in Cape Town by Jason Basel and co-founders James Kieser, Pieter Strydom and Ben Rath, EduOne was developed in response to their own challenges and experiences of accessing and moving through the education system.   Today the company operates South Africa’s largest career guidance website, engaging students on their post-school options. It also builds software such as a mentorship platform and fund disbursement tool, both aimed…

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Fintech firm Crossfin set to be acquired by consortium of investors for US$94m

SOUTH AFRICA – Crossfin Technology Holdings, a fintech investment firm, has been acquired by a consortium of investors, including Patrice Motsepe’s African Rainbow Capital (ARC), for R1.5 billion (US$ 94.71m). The consortium is led by Ethos’s Mid-Market Fund I and includes the founding Crossfin executive management team, EMMF I co-investors Ethos Artificial Intelligence Fund I, and empowerment investor ARC. Fairview Partners acted as financial advisors for the transaction, which will see the exit of founding investors Capital Eye Investments and the Multiply Group. “The transaction is considered a landmark deal…

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Madrid-headquartered Marco acquires controlling stake in Africa Communications Media Group

AFRICA – Marco, brand building and reputation management firm, has acquired a 51% stake in Africa Communications Media Group (ACG) as it broadens its geographic reach across the African continent. ACG is headquartered in Johannesburg (South Africa), with offices in Abidjan (Ivory Coast) and Nairobi (Kenya) as well as long-standing partners in Kigali (Rwanda), Harare (Zimbabwe) and Lagos (Nigeria) and additional affiliated offices in more than 40 other countries across the African continent. They work with clients including Bill & Melinda Gates Foundation, Mercedes Benz, Bloomberg and Ethiopian Airlines. ACG…

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Amethis acquires minority stake in technology & services provider Tarjama

MENA – Amethis, through its newly launched fund, Amethis MENA Fund II (AMF2), has completed its second transaction, acquiring a minority stake in Tarjama. Founded in 2008 by Jordanian entrepreneur Nour Al Hassan, Tarjama is a language technology & services provider in the MENA region. The company has developed proprietary language technology products including a best-in-class Arabic-focused machine translation engine as well as Cleverso, its high-performing translation management system. “Our investment in Tarjama exemplifies our strategy of backing exceptional and growth-focused entrepreneurs operating successfully in fast-growing sectors. We are excited…

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EFG Hermes Holding acquires controlling stake in Arab Investment Bank

EGYPT – EFG Hermes Holding, an Egypt-based investment bank, has finalized its acquisition of a 51% stake in the Arab Investment Bank (aiBANK), marking a strategic entry into the fast-growing and solid Egyptian commercial banking sector. The transaction will see EFG Hermes Holding assume control of aiBANK, with TSFE Financial Services & Fintech Subfund, a subfund fully owned by the Sovereign Fund of Egypt, EFG Hermes Holding’s valued partner, acquiring a 25% stake. “The closing of this landmark transaction with our esteemed partner TSFE will drive the transformation of our…

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Radisson Hotel Group acquires Lincoln Casablanca, debuts its third brand in Morocco

MOROCCO – Radisson Hotel Group and REALITES Groupe have announced the signing of Lincoln Casablanca, a Radisson Collection Hotel, debuting Radisson Hotel Group’s third brand in Morocco. Radisson Collection also marks the Group’s ninth hotel signing in Morocco this year, bringing its portfolio in the country to 11 hotels in operation and under development, and setting the Group firmly on track to exceed its ambition of reaching 15 hotels by 2025. The Lincoln Hotel, which is the oldest hotel in Casablanca and a prime example of the city’s Art Deco…

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EduTech platform Tyro acquires Egyptian social startup Nafham

EGYPT – Tyro, an EduTech platform connecting students with qualified instructors through one-to-one and group sessions, is acquiring Nafham, an Egyptian social startup that offers free crowdsourced educational content, under a share-swap agreement. The agreement entails Tyro’s leadership taking over Nafham’s management and operations to enhance the customer experience of Nafham’s six million users. “Both companies joining forces will technically make us the largest Edutech platform in the MENA region providing both, live online tutoring as well as recorded educational video content,” said Mokhtar Osman, Tyro CEO. “It is crucial…

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Naspers’ Prosus acquires additional 2.5% stake in online food-delivery Delivery Hero

SOUTH AFRICA – Prosus, a major subsidiary of South African Naspers, has entered into an agreement to acquire an additional 2.5% stake in Delivery Hero, which is subject to regulatory approval, through its subsidiary, MIH Food Holdings B.V. Delivery Hero is an online food-delivery service based in Berlin that connect customers with restaurants and shops they love. According to Prosus, acquiring the additional stake is a sound financial investment that will afford it the ability to offset any potential future dilution which may occur in the normal course from, for…

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