Browsing: financial management in africa

On 9th September 2020, US-based blockchain investor, Digital Currency Group (DCG) bought Naspers-backed South African cryptocurrency exchange Luno[1] and Transactions Capital, which took a $109M position in WeBuyCars also from South Africa.[2] According to Bloomberg, WorldRemit acquired Soundwave for $500M on 25th August 2020.[3]

In late July, Network International, a Dubai-headquartered enabler of commerce bought Africa’s leading online commerce platform, DPO Group, for $288M.[4] But it all started in January when Circles Gas acquired KopaGas’ proprietary technology for $25M.[5] These are signs of the times – the EXITS are finally here. But it been a long time coming since 1999 when Mark Shuttleworth had the first exit of selling Thawte to Verisign for $575M.[6] Since then, there have been spates of private equity or “financial exits”, like Visa’s acquisition of Fundamo for $110M,[7] and others that have not being disclosed. The …