DealMakers AFRICA
MTN Uganda has released the results of the offer announced in May whereby MTN International (Mauritius) offered up to 1,574,807,373 shares (7.03% stake) in MTN Uganda for sale at UGX 170 per share. The offer closed on 10 June and was 2.3 times oversubscribed. The company has now attained the 20% minimum public float required by the Uganda Securities Exchange.
Vantage Capital has provided Two Rivers International & Innovation Centre (TRIFIC SEZ) with US$47,5 million in mezzanine funding. TRIFOIC SEZ is a services-oriented business park in a special economic zone located in the diplomatic blue zone of Nairobi, Kenya. The funding will be used to fund and renovate a 14,975 sqm office tower and to develop two Grade A office towers.
EnjoyCorp has completed the 100% acquisition of The Raysun Nigeria from Heineken B.V. that was announced in February. The Raysun Group holds an 86.5% stake in NGX-listed Champion Breweries.
Ghanaian agritech, Wami Agro, has received an undisclosed investment from Mirepa Investment Advisors’ Mirepa Capital SME Fund I. The funding will be used to scale up operations. Wami currently has a network of over 13,000 farmers across five regions in Ghana in the rice, maize, soya and sorghum value chains.
Kenya Orchards has notified its shareholders that Africa Mega Agriculture Centre (AMAC) is looking to acquire up to,10,863,537 shares (84.423%) in the firm from Westpac Holdings (34.282%); Thakarshi Keshav Patel (33.606%); Vipul Thakarshi Patel (14.886%) and Hansa Dinesh Chandra Shah (1.649%). AMAC has stated in the Notice of Intention that is does not plan to delist Kenya Orchards and will apply to the Capital markets Authority for an exemption from having to make a full takeover offer for the firm.
British International Investment has signed an agreement to provide funding of US$15 million (with the potential to increase this to $25 million) to Rift Valley Energy to finance the installation of an additional 7.6MW of renewable energy for Tanzania’s national grid. Rift Valley Energy is wholly owned by Meridiam and operates and is developing a portfolio of 30MW of renewable energy generation together with its subsidiary Mwenga Power Services.
Yield Uganda Investment Fund managed by Pearl Capital, has fully exited its equity investment in Ugandan vanilla processor and exporter, Enimiro. Financial terms were not disclosed. The fund first invested back in July 2022 with a US$515,000 blend of equity and cumulative redeemable preference shares.
