DealMakers AFRICA

TotalEnergies announced the signing of agreements with Conoil Producing Limited, under which TotalEnergies is to acquire from Conoil a 50% operated interest in Block OPL257 and Conoil is to acquire the 40% participating interest held by TotalEnergies in Block OML136, both located offshore Nigeria. Upon completion of this transaction, TotalEnergies’ interest in OPL257 will be increased from 40% to 90%, while Conoil will retain a 10% interest in this block.

AD Ports has acquired Saudi Egyptian Investment Company’s (SEIC), 19.328% equity stake in Alexandria Container & Cargo Handling Company (ALCN), one of the largest container terminal operators in Egypt, in a deal valued at approximately EGP 13,2 billion. Established in 1984 and listed on the Egyptian Exchange since 1995, ALCN operates two strategically located terminals on the Mediterranean, in Alexandria and El-Dekheilla.

Kimbo Fund, BFA Asset Management’s private credit impact fund, has announced a strategic growth investment in Angola’s FoodCare. FoodCare specialises in processing 25 traditional African foods, including cassava, mufu, and mopane worms, catering to both local and international demand. The value of the convertible note transaction was not disclosed.

Early-stage fintech venture capital fund, DisrupTech Ventures, has made its first investment in Morocco, investing in fintech and e-commerce platform Chari. The investment, the size of which was not disclosed, forms part of Chari’s Series A extension round. Chari is a B2B e-commerce and fintech platform that aims to serve the fragmented market of neighbourhood shops by offering a mobile app that allows them to order fast-moving consumer goods for their inventory and receive no-charge delivery within 24 hours.

Syrah Resources has entered into an agreement with the US International Development Finance Corporation (DFC) in connection with its existing DFC loan. Under the agreement, Syrah’s subsidiary Twigg Exploration and Mining will receive a further US$8,5 million disbursement from the DFC loan, which will be used to fund working and sustaining capital for Syrah’s Balama Graphite Operation in Mozambique.

The European Investment Bank (EIB), through its development branch EIB Global, and Vista Group have signed two financing agreements of respectively €20 million with Vista Gui and €10 million with Vista Bank (SL) to strengthen access to finance for SMEs and mid-caps in Guinea and Sierra Leone. The loans will focus on enhancing private sector development, with at least 70% of the funding targeting agricultural value chains, such as cashew, infant food, fruits and vegetables processing and rice value chains across both countries, and country-specific priorities, such as fish and seafood processing, as well as cereals, including fonio and rice, in Guinea, and cocoa, palm oil, cassava, and coffee in Sierra Leone.

Acorn Holdings has received authorisation from the Capital Markets Authority for the establishment of a Build-To-Rent Development Real Estate Investment Trust (D-REIT) aimed at expanding Kenya’s affordable housing rental market for young urbanites. The Acorn Build-To-Rent D-REIT will offer investors an opportunity to participate in large-scale, professionally managed rental property developments which are targeted at young urbanites who are looking at world-class, yet affordable housing in urban areas. To support the establishment of this venture, US$17 million (KES 2,2 billion) has been committed by three entities: Private Infrastructure Development Group (PIDG), who have committed US$10 million (KES 1,3 billion) in equity investment to anchor the new ABRT D-REIT; US$2 million (KES 258 million) from Shelter Afrique Development Bank, and USD 5 million (KES 645 million) of equity from Acorn.

Heineken N.V. has agreed to transfer its brewery in Bukavu in the Eastern Democratic Republic of Congo (DRC) for €1 to Synergy Ventures Holdings, a Mauritian company owned by a group of entrepreneurs and operators with experience in the Region. Since suspending operations at the site in February 2025, Heineken has continued to pay all Bukavu brewery employees in full. Upon completion of the transfer, Synergy Ventures Holdings will assume full responsibility for operating the brewery, ensuring the safety and well-being of employees and fulfilling all tax obligations to the government of the DRC. Heineken retains a buyback option, exercisable 3 years after the sale, if conditions allow for viable operations.

Salvo Grima Group announced the acquisition of a 75% majority stake in Noble Outlook Ltd, a fast-moving consumer goods distribution company operating in western Kenya. No financial terms were disclosed.

The Cameroonian government has signed an agreement to buy back the stake held by British private equity fund Actis in Eneo, the country’s main electricity distributor. The transaction is valued at 78 billion CFA francs, according to sources familiar with the deal. Actis, which bought a 51 percent share in Eneo in 2014, is expected to finalise its exit at an upcoming extraordinary board meeting. Once the transaction is completed, the state will hold 95% of the company, with the remaining 5 % set aside for employees. The new structure effectively places Eneo back under state control.

DealMakers AFRICA is the continent’s quarterly M&A publication
www.dealmakersafrica.com