DealMakers AFRICA

Diageo plc has announced the sale of its 54.4% stake in Seychelles Breweries to Mauritius’ Phoenix Beverages for approximately US$80 million. Diageo and Phoenix have an existing partnership in the Indian Ocean region. Under the terms of the agreement, Diageo will retain ownership of the Diageo brands currently produced by Seychelles Breweries (Guinness and Smirnoff RTDs) as well as distribute IPS in-market, which will be licensed to Seychelles Breweries under a new long-term license and royalty agreement.

Dutch family-backed impact investor, DOB Equity has invested in Kenya’s FarmWorks, an agribusiness focused on providing smallholder farmers with consistent, off-take channels for their produce. The investment will assist FarmWorks to expand its sourcing network, boost its technology platform and broaden its product offerings.

Golden Deeps and Coniston have entered into a sale agreement for the acquisition by Golden Deep on an 80% stake in Namex, which owns 100% of Nambian company Metalex Mining and Exploration, the owner of four Exclusive Prospecting Licences in the Otavi Mountain Land in Namibia. As consideration, Golden Deeps will issue Coniston 23,103,352 new shares and make a cash payment of A$250,000. The agreement also allows for a second tranche of shares to be issued based on specific milestones.

Dislog Group will acquire a 70% stake in Morocco’s Afrobiomedic for an undisclosed sum. Afrobiomedic specialises in the import and distribution of medical devices for interventional cardiology, structural cardiology, and rhythm therapy. The company is also active in vascular interventional neuroradiology.

Egypt’s InfiniLink, a semiconductor startup founded in 2022, has closed a US$10 million seed funding round led by MediaTek and Sukna Ventures. Other investors in this round included Egypt Ventures and m Empire Angels.

Tanzanian FMCG distribution company, Sumet Technologies, has raised US$1,5 million in a debt and equity pre-seed funding round. Investors included ABAN, Catalytic Africa and an angel syndicate from Egypt.

Access Bank has provided Lagos-based value airline, Green Africa with a naira debt facility to part fund the acquisition of its first aircraft, an ATR 72-500.

ASX-listed MetalsGrove has entered into a binding term sheet with Desert Metals to acquire three gold joint venture permits in Côte d’Ivoire. The three permits (Vavoua, Vavoua West and Kounahiri West) cover a total area of approximately 950 km2.

DealMakers AFRICA is the continent’s quarterly M&A publication
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