DealMakers AFRICA

Dutch entrepreneurial development bank, FMO, announced a US$295 million syndicated loan facility to Access Bank to support the Nigerian SME sector. This is the largest syndication in FMO’s history. Its partners include British International Investment, the Belgium development financial institution, BIO, impact investor BlueOrchard, FinDev Canada, Finnfund, Norfund, Oikocredit and Swedfund.

The Development Bank of South Africa, as the Mandated Lead Arranger of the Sosian Geothermal project in Kenya, will underwrite the entire US$68 million senior debt which will be used to develop, finance, construct and operate a 35MW geothermal power plant in the Menengai Geothermal Field, Nakuru.

Dopay, an Egyptian fintech that provides a digital payroll and payments platform, has secured a US$13,5 million extension round, topping up the $18 million raised in its Series A. The extension round was led by Argentem Creek Partners with participation from existing investors.

Kenyan skincare firm, Uncover, has raised US$1,4 million in an oversubscribed funding round led by EQ2 Ventures and IgniteXL Ventures. Chui Ventures, Samata Capital and Altree Capital also participated. Uncover has built a tech platform that uses data provided by users to create personalised skin care products.

Critical Mineral Resources has signed an exclusive option agreement to acquire the high grade silver and copper Igli Project in Morocco. The agreement is for a 90% stake at a total cost of $790,000. The remaining 10% can be acquired for another $500,000 in cash.

British International Investment has provided NMB Bank Zimbabwe, with a US$10 million loan to support agricultural exporters and sustainable farming practices in the country.

TotalEnergies EP Nigeria has sold its 10% stake in the SPDC JV licenses in Nigeria to Chappal Energies for US$860 million. SPDC JV is an unincorporated joint venture between Nigerian National Petroleum Corporation Ltd (55%), Shell Petroleum Development Company of Nigeria (30%), TotalEnergies EP Nigeria (10%) and NAOC (5%), which holds 18 licenses in the Niger Delta.

The International Finance Corporation (IFC) has announced a $15 million financing package for Sri Lanka-based Star Garments Group to build the first large-scale, export-focused apparel manufacturing centre in Togo. The greenfield clothing factory is expected to create 4,520 direct and indirect jobs, especially for women. The factory will be built just outside of Lomé in the Plateforme Industrielle d’Adétikopé industrial park.

DealMakers AFRICA is the Continent’s M&A publication
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