DealMakers AFRICA
AgDevCo has exited its stake in Saise Farming Enterprises through an equity sale to Buya Bamba, a Zambian potato company. Financial terms were not disclosed. Saise was established in 2016 as a specialised potato seed farm between AgDevCo, Buya Bamba and its managing partners.
The International Finance Corporation has announced a US$30 million loan to Egyptian discount retailer Kazyon Group. The loan will be used to support the group’s expansion and development in Morocco’s discount retail sector.
Moroccan startup, ORA Technologies, has closed a US$1,9 million pre-Series A funding round led by Witamax and Azur Innovation Fund. This brings the superapp startup’s total funding to $4,4 million since its inception in 2023.
Dubai’s XRP Healthcare has entered the African healthcare market with the acquisition of Ugandan retail and wholesale pharmacy chain, Pharma Ville. The chain has two retail pharmacies and five wholesale distribution centres across Uganda. Financial terms were not disclosed.
The September 2024 earn-in and exploration rights agreement entered into between Star Minerals and Madison Metals has been terminated. The agreement related to a potential 51% stake in the Cobra Uranium Project in the Erongo region in Namibia.
In August 2024, Kenyan automaker Mobius Motors, entered voluntary liquidation. Days later, the company announced that it had accepted a 100% buyout offer from an undisclosed buyer. The buyer has now been disclosed as Middle East-based investment firm, Silver Box.
African Export-Import Bank (Afreximbank) signed a US$450 million global credit facility with ARISE IIP. The financing will support the development of industrial parks and Special Economic Zones (SEZ), while also providing crucial trade finance support to businesses operating within the ARISE IIP ecosystem. $300 million of the facility will be used to finance working capital requirements for its operating Industrial Parks (GDIZ-Benin, PIA-Togo, LAHAM TCHAD-Chad, PEIA-Côte d’Ivoire and BSEZ-Rwanda) and for capital expenditure for the development of new industrial parks in DRC, Kenya, Chad, Nigeria and Côte d’Ivoire. The remaining $150 million will be used to develop an industrial park in Lilongwe, Malawi, and as trade finance for the activities of its export trading company in Malawi under Afreximbank’s Export Agriculture for Food Security initiative.
PayTabs Group has announced that it has taken full ownership of Paytabs Egypt through the acquisition of a majority stake from EFG Holdings. Financial terms remain undisclosed.
Dislog Group has announced the acquisition, from the Bougrine family, of the entire distribution network of Venezia Ice, Venezia Ice & Bakery as well as the MCDF food manufacturing and preparation plant. Financial terms were not disclosed by the parties.
Camalco Cameroon SA (Canyon Resources) has entered into two separate share sale agreement to acquire a total 9.1% stake in Camrail SA. Total Energies Marketing Cameroun SA (Total Cameroon) sold a 5.3% stake to Camalco for XAF812,850,000 and Societe d’Exploitation des Bois du Cameroun (SEBC) a 3.8% stake for XAF575,700,000 (approx. US$2,3 million in total).
Al Organi Group’s ODI has acquired a 26.25% stake in Misr National Steel (Ataqa) for EGP1,9 billion. The acquisition is part of the Group’s expansion plans. Earlier this month, Organi reportedly acquired a 50% stake in Rolling Plus Chemical Industries to revive its €1 billion tyre factory project in the Suez Canal Economic Zone in partnership with Concrete Plus.
DealMakers AFRICA is the continent’s quarterly M&A publication
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