DealMakers AFRICA

Sintana Energy and Namibia’s Crown Energy have entered into a definitive agreement for the acquisition by Sintana of up to a 67% stake in Giraffe Energy Investments. Giraffe is the owner of a 33% interest in Petroleum Exploration License 79 which governs blocks 2815 and 2915. The agreement sees Sintana acquire an initial 49% for a cash consideration of US$2 million and retain an option to increase the stake to 67% anytime over the next five years for US$1 million.

Trident Energy has announced agreements with Chevron and TotalEnergies to acquire stakes in operational fields within the Republic of Congo. TotalEnergies EP Congo has agreed to acquire an additional 10% interest in the Moho license from Tident and sell its 53.5% stake in the Nkossa and Nsoko II licenses. Trident has also reached an agreement to acquire the entire issued share capital of Chevron Overseas (Congo) which holds a 31.5% non-operated working interest in the Moho-Bilondo, Nkossa, Nsoko II fields and 15.75% operated interest in the Lianzi field. Upon completion, Trident will hold an 85% working interest in the Nkossa and Nsoko II fields, a 15.75% working interest in the Lianzi field. Triden will also retain a 21.5% working interest in the Moho-Bilondo field.

Globeleq has completed the acquisition of a 48.3% equity stake in the 25 MWp Winnergy solar PV plant in Egypt from Enerray, Enerray Global Solar Opportunities and Desert Technologies. Financial terms were not disclosed.

AIM-listed Ariana Resources has entered into a conditional merger agreement to acquire 100% of Rockover Holdings, owner of the Dokwe Gold Project in Zimbabwe. Ariana currently holds circa 2.1% of Rockover. The all-share merger will see existing Ariana shareholders hold a 62.5% stake in the merged entity with existing Rockover shareholders holding the remaining 37.5%.

Egypt’s Bokra has raised US$4,6 million in a pre-seed round led by DisrupTech Ventures and SS Capital. The Cairo-based fintech is looking to become the first platform to offer goal-based investment and saving products through asset backed securities, thereby revolutionising wealth management in the MENA region.

Reuters announced that sources have indicated that International Resources Holding has offered to buy a majority stake in Vedanta Resource’s Zambian copper assets. The mining investment firm is reported to be looking to expand its Zambian mining business following the successful acquisition of a 51% stake in Mopani Copper Mines earlier this year.

Khawarizmi Ventures has led a US$1 million pre-seed investment in Egyptian HRtech, bluworks. Other investors included Camel Ventures, Acasia Ventures and various angel investors. The startup, founded in 2022, develops SaaS solutions to manage the lifecycle of blue-collar employees in industries such as retail, F&B, facility management, healthcare, education and construction.

Impact investor, Renew Capital has invested in Kenyan B2B platform Farm to Feed. The tech-enabled platform finds new uses for surplus and less-than-perfect produce. The size of the investment was not disclosed.

Egypt’s Waffarha has raised a seven-figure seed round led by Value Makers Studio. The fintech will use the funding to enhance existing technology, hire new talent and expand its footprint in Saudi Arabia.

Sahel Capital, through its Social Enterprise Fund for Agriculture in Africa fund, announced a US$600,000 term and working capital loan for Persea Oil & Orchards. The Kenyan avocado oil processor provides an off-take market for avocado farmers and produces cold-pressed organic extra virgin avocado and crude oil.

DealMakers AFRICA is the Continent’s M&A publication
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