DealMakers AFRICA

Askari Metals, an ASX-listed copper-gold exploration company, is to acquire a 90% stake in the advanced Uis Lithium-Tantalum-Tin Project in Namibia. The stake acquired from LexRox Exploration Services, expands the company’s exposure to the battery metals sector.

Arrow Minerals, an ASX-listed West African gold exploration company, has signed a binding agreement to acquire a 60.5% stake in the Simandou North Iron Project in Guinea, West Africa. The stake will be acquired in two stages from Amalgamated Minerals Pte.

Canadian junior gold exploration company Sylla Gold has entered into an arm’s length letter of intent to acquire an option to earn 100% of the Sananfara gold exploration permit located contiguously south of its Niaouleni Gold Project in Mali.

Access Holdings has acquired, via First Guarantee Pension (FGP) and First Ally Asset Management, the entire issued share capital of Sigma Pensions from Actis. Access intends to merge the operations of Sigma and FGP to create Nigeria’s fourth largest Pension Fund Administrator by assets under management.

The Central Bank of Nigeria has sold Polaris Bank to Strategic Capital Investment (SCIL). The transaction will see SCIL pay an upfront consideration of ₦50 billion and make a repayment of ₦1,3 trillion, the consideration for bonds injected.

Nigeria’s Titan Trust Bank has made an offer to minorities to acquire the remaining stake in Union Bank of Nigeria. The offer is priced at ₦7.00 per share, the price at which the block trade was executed when Titan acquired its majority stake. The remaining 6.59% is valued at ₦13,49 billion.

Mauritian firm Barak Asset Recovery is to acquire a 60% stake in Savannah Cement owned by Seruji. Savannah cement which is headquartered in Kenya exports regionally and is also active in the Democratic Republic of Congo and Mauritius.

Real estate co-ownership startup Seqoon has raised US$500,000 in a pre-seed round through Banque Misr’s pilot programme to support startups in Egypt. The funds will be used to grow its team to service its newly launched co-ownership destination in El Gouna.

Moove, a Nigeria-based fintech startup, has raised a £15 million (US$16,8 million) financing facility from Emso Asset Management. The funds will be used to expand its operations in the UK. The company will launch a 100% EV rent-to-buy strategy which will give access to new, zero-emissions vehicles for a fixed monthly charge.

Egypt-based solar energy company KarmSolar has secured EGP47 million (US$2,4 million) in funding from Qatar National Bank for the first financed solar Power Purchase Agreement battery storage system in the country. KarmSolar provides integrated energy solutions across the industrial, agricultural, commercial and tourism sectors, leading the growth of the private solar energy market in Egypt.

DealMakers AFRICA is the Continent’s M&A publication
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