DealMakers AFRICA
Edgars has successfully listed on the Victoria Falls Stock Exchange on Friday 5 April following shareholder approval to delist from the Zimbabwe Stock Exchange last month.
Enko Capital Managers has exited its investment in Zambia’s Madison Financial Services to subsidiaries of Mergence Investment Managers in Cape Town. Madison was the first investment made by the Enko Africa Private Equity Fund back in 2015. This marks the fund’s sixth successful exit out of seven investments.
Prospect Resources has acquired an 85% stake in the Mumbezhi Copper Project in the Zambian Copperbelt from current owners, Global Development Cooperation Consulting Zambia. As settlement, Prospect will pay US$5,5 million in cash plus issue US$1million in shares.
Ghanian digital bank, Affinity, has received an undisclosed investment from Renew Capital as it looks to expand across the continent.
Nigerian Exchange Group, FSD Africa and Trade and Development Bank Group, along with other domestic and international investors, participated in a capital raise for the Ethiopian Securities Exchange of ETB 1,514 billion (US$26,6 million) which represented a subscription of 240% on its initial target of ETB631 million (US$11,07 million).
SunCulture has raised US$27,5 million in an oversubscribed series B fundraise to scale its solar irrigation offering across sub-Saharan Africa. As part of the Series B, InfraCo Africa made a US$12 million equity investment in the Kenyan firm.
Altona Rare Earths and Ignate African Mining P/L have entered into an option agreement which gives Altona an exclusive option to acquire up to an 85% interest in Prospecting Licence PL2329/2023, known as the Sesana Project and located in Botswana’s Kalahari Copper Belt. The option agreement stipulates three tranche payments totalling US$110,00 in cash and US$250,000 in Altona shares over a four-year period.
The Board of Directors of Nigerian Breweries Plc is to recommend to shareholders at the next AGM that they approve a capital raise of ₦600 billion by way of a Rights Issue to help reduce the company’s debt burden and thereby strengthen its balance sheet.
DealMakers AFRICA is the Continent’s M&A publication
