DealMakers AFRICA
Amethis has taken a significant minority stake in Tiba for Starch & Glucose (Tiba), an Egyptian producer of rice-based specialty food ingredients. Founded in Egypt, Tiba specialises in the production of rice-derived value-added products including starch, fat powder, coffee creamer, and protein serving a broad range of applications. Financial terms were not disclosed.
In Lesotho, MG Health announced plans to merge with Canify AG. Fincial terms remain undisclosed. The merger is expected to combine key parts of the value chain – from EU-GMP certified cultivation and extraction of medical cannabis at MG Health in Lesotho, to pharmaceutical development, processing and regulatory management, and finally distribution through Canify’s established network with pharmacies and physicians, complemented by direct access to patients through Canify Clinics. Furthermore, Canify’s existing international supplier network can be optimally aligned with MG Health’s expanded production and processing capacities.
The Aga Khan Fund for Economic Development S.A. (AKFED) announced that it has entered into an agreement to sell its 100% shareholding in NPRT Holdings Africa Limited (NPRT) to Taarifa Ltd. NPRT holds a 54.08% shareholding in Nation Media Group PLC (NMG), comprising 92,618,177 ordinary shares. Taarifa has confirmed that it does not currently contemplate a mandatory or voluntary offer for the remaining NMG shares or delisting on any securities exchange. NMG shares will continue to trade on the Nairobi Securities Exchange and its cross-listed exchanges.
In Morocco, NETIS Group announced the acquisition of a majority stake in Netcom Technologies, a technology integrator specialising in Telecom, IT, Security and Critical Infrastructure solutions. No financial terms were disclosed. NETIS is a pan-African group specialising in the design, deployment and operation of critical infrastructure in the telecommunications and energy sectors.
The Kenya Pipeline Company listed on the Oil & Gas sector of the Nairobi Stock Exchange on Tuesday 10 March. The listing followed a successful IPO that saw the Kenyan government sell a 65% stake in the pipeline company, raising KES106,3 billion (US$823,07 million), in Kenya’s first major IPO in nearly two decades. The share price closed at 9.18 shilling, up from the IPO price of 9 shillings per share.
A consortium of investors led by SPE Capital, through its Private Equity Fund III, and including the European Bank for Reconstruction and Development (EBRD), Proparco, and the Belgian Investment Company for Developing Countries (BIO), announced the closing of an investment in Orchidia Pharmaceutical Industries S.A.E., a leading ophthalmic pharmaceutical manufacturer operating in Egypt and across the Middle East and Africa. Financial terms were not disclosed. SPE has a longstanding relationship with Orchidia, having previously invested in the company through one of its managed vehicles from 2013 to 2017.
Recently launched, AfricaWorks Investment Partners, has completed its first deal, acquiring a site in Lagos, Nigeria, for a mixed-use business park development. Located in the heart of Victoria Island, this premium corporate business park development will feature 1,500+ sqm, including Managed Office for up to 125 pax, co-working spaces for up to 200 pax, Conference Centre for up to 80 pax, Executive Board Rooms, Exclusive Café with both indoor & outdoor terrasse, a private fitness centre and business concierge & valet services. The business park is set for completion in Q3 2026 and will be managed by AfricaWorks.
Mitcha, an Egyptian e-commerce platform dedicated to supporting local designers, has been acquired by US-based Converted, a company specialising in AI-powered advertising technology for emerging markets. Founded by Hilda Louca, Mitcha has built a large customer base and a vibrant community of designers and creative talents. Integrating this community into the Converted ecosystem is expected to expand the company’s product capabilities and create greater growth opportunities for merchants and designers across Egypt and the region. Financial terms were not disclosed.
Sahel Capital has approved a loan facility of US$1 million through its Social Enterprise Fund for Agriculture in Africa (SEFAA) for Zigoti Coffee Works, a Ugandan coffee processor and exporter, specialising in both Robusta and Arabica coffee. The company sources coffee beans from over 4,000 smallholder farmers and actively supports them through a range of extension and value-added services. These include training on good agricultural practices, supplying subsidised coffee seedlings through its nurseries, and facilitating access to financial institutions.
DealMakers AFRICA is the continent’s quarterly M&A publication
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