DealMakers AFRICA

Frigoglass Group has entered into an agreement to sell its entire shareholding in Frigoinvest Nigeria Holdings B.V., the holding company of its Nigerian Glass business (including Beta Glass plc and Frigoglass Industries Nigeria Limited), which comprise the Group’s glass container, plastic crates, and metal crowns manufacturing activities for a consideration of up to €100 million, to Helios Investment Partners. The transaction is subject to regulatory approval and expected to be completed in the first quarter of 2026.

Safaricom Plc announced the results of its Tranche 1 Note issue under its Medium Term Programme of up to KES40 billion. The teleco had looked to raise KES15 billion in this first tranche, but the offer achieved a 275.7% subscription rate. Due to the strong market reaction to the offer, Safaricom exercised the KES5 billion greenshoe option, thereby increasing Tranche 1 to KES20 billion.

Helios Investment Partners and Fipar-Holding, a subsidiary of CDG Invest, announced the creation of 3MDC, a new digital infrastructure platform. The platform aims to accelerate Morocco’s digital transformation and strengthen its position as a regional technology hub. The new platform brings together Maroc Datacenter (MDC), Munisys, and Medasys, three of Morocco’s most established players in cloud, data, cybersecurity and digital services. Their combination creates a unique, fully integrated hybrid-cloud platform serving enterprise and public-sector clients across Morocco and Southern Europe.

Sahel Capital’s Social Enterprise Fund for Agriculture in Africa (SEFAA) has approved an additional US$800,000 financing facility for Benin’s MM LEKKER. This follows a first US$400,000 working capital loan provided in March. Headquartered in Abomey-Calavi, MM Lekker plays a pivotal role in transforming the regional agricultural trade landscape. The company specializes in sourcing and selling soybeans, shea nuts, and cashew nuts to both local and international markets.

Eos Capital announced the successful exit of Allegrow Fund’s investment in Erongo Medical Group (EMG). The exit represents Eos Capital’s first realised exit since inception.

Standard Bank has partnered with Safaricom Telecommunications, Kenya’s largest telecommunications provider, to provide funding of US$138 million as part of investment towards Safaricom Telecommunications Ethiopia PLC. The financing facilitates Safaricom’s ongoing rollout of digital infrastructure and services in Ethiopia.

Crown Healthcare, a Kenyan medical products distributor, has secured a US$10 million investment from Impact Fund Denmark. Founded in 1998, Crown Healthcare has evolved from a medical devices distributor into a comprehensive healthcare solutions provider with operations spanning Kenya, Uganda, Tanzania, and Rwanda. The investment will accelerate Crown Healthcare’s plans for a pharmaceutical manufacturing facility at Tatu City in Kiambu, where the company has committed a total of $40 million to build what it describes as the largest pharmaceutical plant and medical devices manufacturing facility in sub-Saharan Africa. The plant will span 10 acres with a building area of 400,000 square feet and is expected to employ more than 1,000 highly qualified professionals when fully operational.

TotalEnergies has concluded an agreement with Galp to enter as operator in the prolific PEL 83 license, including the Mopane discovery. Under the agreement, TotalEnergies will acquire a 40% operated interest in PEL83 license holding the Mopane discovery, while Galp will acquire a 10% participating interest in PEL56, which includes the Venus discovery, and a 9.39% participating interest in PEL91. TotalEnergies will carry 50% of Galp’s capital expenditures for the exploration and appraisal of the Mopane discovery and the first development on PEL83. The carry will be repaid through 50% of Galp’s future cash flows from the project.

AJN Resources announced that it has entered into a non-binding term sheet with Amani Consulting SARL, Giro Goldfields SARL and Mabanga Mining SARL pursuant to which AJN can acquire a 55% indirect interest in the Giro Gold Project which comprises two exploitation permits, PE 5046 and PE 5049, that cover a surface area of about 497km² and lies within the Kilo Moto Greenstone Belt in the Haute-Uele Province in the north-east of the Democratic Republic of the Congo (DRC), about 35km west of the Kibali Mine. The deal will be concluded through the issuance of 250,000,000 common AJN shares to Amani Consulting. AJN will be granted an option to acquire the remaining 10% interest held by Amani Consulting in Giro Goldfields by either paying US$30 million to Amani Consulting within 12 months of the Closing or paying $50 million to Amani Consulting within 24 months of the Closing.

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