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Week commencing 8 April
Ghanaian start-up MPharma is buying Kenya’s second-largest pharmacy chain, Haltons. MPharma will take control of the 20 Haltons stores split between Nairobi and Mombasa. It has raised $9.7m and the full round of funding is expected to be completed in a couple of weeks with other investors.
Liquid Africa 1 April
French retailer Carrefour plans to boost its presence in Kenya as it looks to expand into eastern and southern Africa. Carrefour plans to enter as many as five markets in the next four years. Growing the franchise in Africa will increase competition for the likes of Shoprite and Massmart.
Bloomberg 2 April
Kenyan budget airline Jambojet will be leasing four more aircraft this year, boosting its fleet in readiness for the launch of new routes in at least four destinations. The airline is building on its success in Uganda where it launched a daily flight last year to expand to other countries in the region.
Business Daily 2 April
Nigerian business mogul Abdoul Samad Rabiu is assessing the Rwandan mining sector for viable opportunities. There are multiple investment opportunities in the Rwandan mining sector with investments ranging from $15m to $120m.
The New Times 2 April
SA-based packaging company Nampak has sold its Nigerian paper packaging to privately-held Swedish cigarette packaging group AR Packaging for an undisclosed amount. Nampak has retained its aluminium and tin canning products and services in Nigeria
Reuters 3 April
South African internet and media group has sold its OLX business in Ghana, Kenya, Tanzania and Uganda to Jiji, which operates the largest classifieds marketplace in Nigeria.
Liquid Africa 3 April
Global tech investment firm Partech has invested in Kudi, a Nigerian digital payment and collections firm. Existing investors Khosla Ventures and YC also participated in the investment. In Nigeria 80% of the population works informally and is paid in cash.
Africa Global Funds 4 April