West African private equity firm, Verod, has announced the successful exit from Nigerian pension fund administrator, Tangerine APT Pensions through a disposal to minority partner, APT Securities and Funds. Financial terms of the deal were not disclosed. In 2020, Verod acquired 100% of AXA Mansard Pensions Limited and 45% of APT Pension Fund Managers Limited. In 2021, the two businesses were merged to create Tangerine APT Pensions Limited.
Capital Alliance Private Equity IV announced its full equity exit of a 15.92% stake from Nigerian energy company Aradel Holdings. This transaction follows the successful listing of Aradel on the Nigerian Exchange in October 2024.
Norfund has announced that it is investing €20 million in Société Ivoirienne de Productions Animales (SIPRA), one of the largest locally owned and integrated poultry companies in West Africa. Headquartered in Abidjan, Côte d’Ivoire, SIPRA operates across the entire value chain – from feed production; breeding to processing and distribution with a strong regional presence (+150 outlets) in both Côte d’Ivoire and Burkina Faso.
Oscillate PLC has revised the terms of its acquisition of Kalahari Copper to include Kalahari Copper’s Namibian Copper Project, in addition to the previously announced Botswanan Copper Project. Oscillate made a non-refundable payment of £500,000 to Kalahari Copper, some of which will be allocated to work programmes and license renewals. Upon signing the share purchase agreement, Oscillate will issue shares equating to 30% of its outstanding shares as consideration. A cash payment of £2,0 million, increased from £1,5 million, will be made to the seller within 10 days of relisting on a senior exchange. Milestone payments of £1,5 million each will be due upon an initial Maiden JORC Resource, a Pre-Feasibility Study, and a Final Investment Decision for both the Botswanan and Namibian licenses.
Egyptian fintech, Sabika has a six-figure US$ investment led by M-Empire Angels. Sabika is a digital platform that provides secure, transparent, and Sharia-compliant gold and silver investment services. The investment will be used to enhance platform features, integrate AI-driven tools, and support Sabika’s expansion into the Saudi market in 2025.
Pembani Remgro Infrastructure Fund II has made a US$20 million investment in Kenyan Internet Service Provider (ISP), Mawingu. The investment will be used for Mawingu’s long-term expansion strategy, which aims to impact 1 million people across the continent by 2028 through a combination of acquisitions of local ISPs and the development of digital infrastructure in areas historically left behind due to high capital costs and geographic barriers.
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