DealMakers AFRICA
Altona Rare Earths has entered into an agreement with Sustineri Group and other shareholders to acquire the entire issued share capital of Phelps Dodge Mining (Zambia), the registered holder of Large Scale Exploration Licence 21403-HQ-LEL located in the Mufumbe District in Zambia. The consideration will be settled as follows – US$40,000 on completion and US$150,000 12 months after completion payable in Altona shares.
AI-powered edtech Sprints.ai, has raised US$3 million in bridge funding in a round led by Disruptech Ventures and includes EdVentures, CFYE and others. The Eqyptian startup, launched in 2020, is looking to use the funding to scale its end-to-end platform that bridges the tech talent gap.
The COMESA Competition Commission has approved the 100% acquisition of Kenyan dairy company Highland Creamers by Uganda’s Lato.
Kenya’s BasiGo announced a US$3 million equity investment by Toyota Tsusho Corporation’s CFAO to accelerate the production and delivery of electric buses in Kenya and Rwanda.
British International Investment has provided a US$100 million finance facility to the Eastern and Southern African Trade & Development Bank (TDB Group) which will assist the group with providing financial support to local businesses and financial institutions in several key African markets.
Flour Mills of Ghana has acquired a stake in Ghana’s oldest animal feed producer, Agricare, from Injaro Agriculture Capital Holdings for an undisclosed sum. The sale represents a full exit from Agricare for the fund which is managed by Injaro Investments.
The International Finance Corporation and other lenders, including African Development Bank, Bangkok Bank, British International Investment, Citibank, DEG, DZ Bank, Emerging Africa Infrastructure Fund (EAIF), Rand Merchant Bank, FMO, Export-Import Bank of India (India Exim Bank), Export-Import Bank of Korea (KEXIM), the Standard Bank Group, Standard Chartered Bank, and the United States International Development Finance Corporation (DFC) have announced a US$1,25 billion financing package to Indorama Eleme Fertilizer and Chemicals in Nigeria to ramp up its fertilizer production and develop a port terminal for exports.
CANAL+ Group has acquired a stake in Marodi TV, a Senegalese production company. Financial terms were not disclosed.
Many Peaks has announced an agreement to acquire a 100% interest in the Turaco Gold and Predictive Discovery Ltd joint venture [CDI Holdings] which holds the right to acquire an 85% interest in four mineral permits in Côte d’Ivoire (including the Ferke Gold Project). The purchase will be settled through the issue of 5,617,978 fully paid ordinary shares in Many Peaks.
DealMakers AFRICA is the Continent’s M&A publication.
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