Thursday, December 4, 2025

TreasuryONE

Who’s doing what this week in the South African M&A space?

Weekly summary of Merger & Acquisition activity by South African companies

Who’s doing what in the African M&A and debt financing space?

Weekly summary of M&A, financial and debt market activity from across Africa (excluding South Africa)

The perils of oversimplifying technology due diligence in acquisitions

Whether your company makes food, builds houses, manages logistics, sells products or provides services, your critical functions run on information technology. As such, it...

Assessing the risk of the culture to be acquired

Everyone enjoys a growth story, and mergers and acquisitions (M&A) often stand out as the fastest way to scale effectively. Whether it’s snapping up...

Does regional integration increase M&A regulatory burden?

This is a tricky topic, which has recently become increasingly important for entities which operate across multiple jurisdictions in Africa. Regional integration, in the...

Private Equity and Wheeling: financing the shift to decentralised power

Africa’s energy story is undergoing a fundamental shift in 2025, as c.600 million Africans lack access to electricity. Rolling blackouts, rising tariffs and strained...

Ghost Bites (Araxi | Glencore | Hyprop | Nedbank | Raubex | Sabvest)

Glencore's Capital Markets Day is a love letter to copper. Nedbank has had a very poor year, while Sabvest has grown beautifully. Hyprop is looking to raise R300 million. Raubex may sell Bauba Resources and Araxi may buy a business in the payments space.

Ghost Bites (Araxi | Equites Property Fund | Exxaro | FirstRand | Merafe | Resilient | Shaftesbury | Sibanye-Stillwater)

Equites raised over R700 million. Sibanye locked in a gold wage deal. Exxaro is running slightly behind guidance. FirstRand's UK hangover continues, but the rest looks good. Resilient expects double-digit growth. Araxi's Software business remains a problem. Merafe is putting two smelters on care and maintenance. Shaftesbury's London West End portfolio is strong.

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