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Kenyan Entrepreneur Rama Afullo’s Satlyt Secures $8 Million Seed Round
Co-headquartered in Nairobi and founded by former SpaceX Starlink product manager Rama Afullo, the deep-tech enterprise locks in backing from Launch Africa, Enza Capital, TLcom, and Axian to scale satellite AI compute.
Attijariwafa Bank to Acquire Controlling 55.22% Stake in Société Générale Ghana
The transaction marks the complete exit of French banking group Société Générale from Ghana, with local pension fund SSNIT securing an additional 5% equity interest.
UAC of Nigeria Agrees to Sell 73.29% Controlling Stake in Livestock Feeds to Sunbeth for N19.5 Billion ($15 Million)
Diversified conglomerate UAC of Nigeria monetizes its majority position in national feed manufacturer Livestock Feeds, unlocking N19.5 billion ($15 million) in cash to redeploy across core growth operations.
Africa Go Green Fund Secures $18 Million Senior Debt Facility for Cold Solutions Rwanda
Cygnum Capital-managed fund provides debt financing to construct a temperature-controlled cold-storage and logistics hub in the Kigali Prime Economic Zone.
Summit Private Equity Fund II Acquires 40% Stake in Virtual Farmer to Accelerate Regional Agri-Finance Expansion
The investment by Summit Africa aims to unlock institutional funding across Southern Africa, targeting an agricultural sector that generates over R500 billion ($30.4 billion) in annual output in South Africa alone.
Proparco Commits €150,000 to Kenyan Agritech Farm to Feed
The 2X-labelled investment aims to accelerate the commercial scale of Farm to Feed’s digital supply-chain platform, reducing agricultural waste and improving farmer yields across Kenya.
Copia Global’s $123 Million Insolvency Highlights Capital Realities in African E-Commerce
The failure and liquidation of Kenya’s agent-led retail pioneer mark one of East Africa’s largest tech collapses, signaling a decisive shift away from capital-intensive last-mile distribution models.
Kenyan Agritech Startup Rhea Secures $100,000 to Scale Soil-Intelligence Technology into Tanzania
Soil health management pioneer Rhea raises $100,000 via a convertible note led by Obudu Capital, fueling regional expansion and the commercial rollout of its portable AgriPad testing platform.
Clicks Group Bets $31 Million to Take Controlling Stake in Premium Beauty Retailer ARC
South African retail giant Clicks Group expands its footprint in the prestige cosmetics market by acquiring an additional 35.3% interest in premium beauty retailer ARC Store, lifting its total shareholding to 61%.
Nedbank Acquires 50% Stake in Burstone Group's New $42 Million Property Platform
South African real estate group Burstone establishes a new unlisted funds platform seeded with R5.4 billion in commercial assets, selling a 50% equity stake to Nedbank Property Partners for approximately R677 million ($41.6 million).
Review of Week of 21 September 2026
This week’s deals feature a landmark $1.0B critical minerals PE initiative, OCP Group’s $149.9M hybrid bond tap, Ardova’s 100% buyout of Powergas Nigeria, and strategic growth capital deployments across Paymob, Quickmart Kenya, and Spiro.