DealMakers AFRICA

Mediterrania Capital Partners and European Development Finance Institutions, FMO, British International Investment, BIO from Belgium, and Impact Fund Denmark, announced a €100 million co-investment in Coris Holding, the second largest banking group in the West African Economic and Monetary Union (WAEMU). Operating under the Coris Bank International brand, the group is present in 10 countries through subsidiaries in Burkina Faso, Côte d’Ivoire, Senegal, Togo, Benin, Mali, Guinea and Chad, as well as two branches in Niger and Guinea-Bissau.

Absa Bank Uganda has signed an agreement to acquire Standard Chartered Bank Uganda’s Wealth and Retail Banking (WRB) business portfolio, subject to regulatory approvals. Financial terms were not disclosed. Under the agreement, all Standard Chartered WRB clients and staff will transfer to Absa.

Pan-African investment platform, AfricInvest, has announced an undisclosed investment in The British University in Egypt. The investment, which is one of the largest foreign direct investments in Egypt’s education sector to date, was made through a capital increase with the Khamis family remaining the majority shareholders of the University after the investment. The capital increase will enable the University to further strengthen its position in the higher education sector in Egypt and regionally by expanding the capacity of existing faculties, establishing new ones, diversifying its curriculum, broadening its educational offerings, and implementing enhanced governance tools.

Stanbic Bank Kenya and Stanbic Bank Uganda have closed a US$45 million long-term funding package to support the expansion of two PepsiCo bottlers in East Africa. Crown Beverages in Uganda has secured US$30 million and SBC Kenya has secured US$15 million.

10Altics Business has acquired Nigeria’s Nebiant Analytics for an undisclosed sum as part of its strategic objective of expanding operations within Nigeria and throughout Africa.

FNB Zambia announced that it will acquire the wealth and retail banking business of Standard Chartered Bank Zambia for an undisclosed sum.

Aradel Holdings Plc announced that its wholly-owned subsidiary, Aradel Energy has entered into a definitive agreement to acquire a 40% equity interest, in ND Western (NDW) from Petrolin Trading. Aradel Energy currently owns a 41.67% stake in NDW, which holds a 45% participating interest in OML 34, a producing Oil Mining Lease located in the Western Niger Delta.

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