DealMakers AFRICA

Enegex Limited announced that it has entered into binding agreements to acquire Famien Resources – which holds a portfolio of prospective 100%-owned gold exploration projects in Côte d’Ivoire. The portfolio includes seven granted exploration permits and four permit applications, covering an area of more than 3,700km². The Gogo and Tougbe permits represent the most advanced exploration projects within the portfolio and will be the focus of initial exploration efforts, with reconnaissance drill programmes expected to commence in the coming months.

Wildcat Petroleum Plc has terminated all discussions relating to the signing of a Memorandum of Understanding for the acquisition of 100% of Wildcat Gold & Mining Trading & Multi Activities Company based in Sudan due to rebel activity in the area.

Nigerian asset management company, Royal Exchange Plc, received notification that Nexamont Company had acquired 1,770,499,535 shares (approximately 21.4%) in the company. The value of the transaction was not disclosed. At the closing share price of ₦2.04, the deal would have been valued at ₦3,6 billion. Nexamont has made no official statement detailing any future plans for Royal Exchange.

Tanzanian agritech, MazaoHub has closed a US$2 million oversubscribed seed round, comprised of $1.5 million in equity led by Catalyst Fund with participation from Nordic Impact Fund, Mercy Corps Ventures, elea Foundation, Impacc, and DOB Equity, and $500,000 in non-dilutive capital from the Livelihood Impact Fund. The new capital will be used to accelerate production of MazaoHub’s low-cost soil kits and sensors, expand their network of Farmer Excellence Centres, and finance the rollout of CropSupply.com, which began piloting earlier this year.

Yango Ventures has made an undisclosed investment in Kenyan fintech platform, Zanifu. The platform offers digital inventory financing to small retailers who are typically excluded from formal credit systems due to lack of collateral, structured accounting records, or asset-based guarantees.

Savannah Energy EA has signed an agreement to acquire Norfund’s stake in a portfolio of hydropower assets for up to US$65,4 million. The assets include an indirect 13.6% interest in the operating 255 MW Bujagali run-of-river hydropower plant in Uganda; an indirect 12.3% interest in the 361 MW Mpatamanga hydropower development project in Malawi; and an indirect 9.8% interest in the 206 MW Ruzizi III hydropower development project spanning Burundi, the Democratic Republic of the Congo and Rwanda.

ARC Ride, a leading electric mobility company in Kenya, has secured a commitment of up to US$10 million in senior secured debt from Mirova. The transaction is Mirova Gigaton Fund’s first Electric Vehicles (EV) investment in sub-Saharan Africa, supporting the large-scale deployment of electric two-wheelers (E2Ws) and battery-swapping infrastructure in Kenya. The $10 million facility is designed to fund over 600 battery-swapping cabinets and 25,000 batteries, structured as senior secured debt with a five-year tenor.

Nigerian e-waste recycling company, Hinckley E-Waste Recycling, has secured a strategic equity investment of US$1,5 million from impact investment company, All On. The investment will enable Hinckley to establish state-of-the-art Lithium-ion Battery Recycling and Reuse as well as Used Lead Acid Battery Recycling facilities, the first of their kind in Nigeria. These facilities will address the growing global demand for solar batteries and the urgent need to manage electronic waste sustainably.

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