DealMakers AFRICA

Eos Capital has announced the completion of a partial exit from Namibia’s Kadila Poultry Farming through its Euphrates Agriculture Fund. Euphrates, along with Africa Venture Partner Projects and Oyeno Poultry Industries, backed Kadila in 2024. The early-stage capital helped build Kadila’s state-of-the-art production facilities and take the business from concept to full commercial operation. The partial exit delivers a 19% IRR and 1.4x money back to the Fund’s investors.

Helios Investment Partners announced that Helios Fund V has entered into an agreement to acquire up to a 49% interest in Stratton Africa Holdings Limited, the Mauritius-incorporated holding company of Merec Industries, from Invictus Investment. Merec is Mozambique’s largest flour milling company, processing wheat and corn into an integrated product portfolio spanning flour, pasta, biscuits and animal feed. Its mills, production facilities and silos are strategically located in each of Mozambique’s three principal port regions: Beira, Maputo and Nacala – making it the only miller with manufacturing facilities in all three. Merec also owns a grain terminal at the port of Maputo. Financial terms were not disclosed.

Kong Solaire SAS, a project company owned by Africa Via, Axian and the Private Infrastructure Development Group (PIDG) through InfraCo, have signed a financing agreement with FMO, the Dutch entrepreneurial development bank, for the Kong solar photovoltaic power plant in Côte d’Ivoire. FMO is providing the project’s entire long-term financing, amounting to up to €55,5 million, with a 20-year tenor. The financing incorporates adaptations to conventional project finance structures to reflect the specific context of emerging markets in West Africa, developed jointly by the parties. Located near the town of Kong in northern Côte d’Ivoire, the solar power plant will have an installed capacity of 50 MWp. Its annual output is expected to reach approximately 96 GWh, which will be fed into the national electricity grid. This generation is expected to supply electricity to approximately 240,000 people and avoid 54,000 tonnes of CO₂ emissions per year.

Tactful AI, an Egyptian startup specialising in agentic AI-driven customer experience (CX) infrastructure, announced that Hatem Dowidar, former Group CEO of e&, has joined its investor roster through a direct investment in the company’s Pre-Series A extension round. The financial terms of the deal were not disclosed. Tactful AI develops an agentic AI-powered customer experience platform that enables businesses to manage customer interactions, automate workflows and analyse conversations across multiple channels. The company is preparing to introduce next-generation agentic AI technology that will allow enterprises to build and modify customer experience workflows in hours rather than months while maintaining human oversight and approval processes.

Fortis Green Renewables Investment Management and Zeitinger Invest have invested in the GRIPS Energy Group, a developer, owner and operator of commercial and industrial solar and battery energy storage projects across Sub-Saharan Africa. The investment finances the acquisition of operational renewable energy assets in Senegal, Botswana, Zambia and Uganda and provides growth capital to support GRIPS’ expansion of distributed solar and solar-plus-storage projects serving commercial and industrial customers.

Camco-managed REPP 2 has provided a €12 million senior debt facility to Afreenergy Solar to refinance an operating portfolio of rooftop solar assets and fund the construction of new solar PV and battery storage projects for established commercial and industrial customers in Senegal. The REPP 2 financing will support the expansion of Afreenergy Solar’s portfolio from 2.7 MWp to 14.9 MWp of rooftop solar PV capacity, alongside 5.7 MWh of battery storage, avoiding approximately 21,300 tCO₂e annually. The portfolio will provide customers with more reliable electricity, reducing exposure to grid interruptions and supporting more resilient industrial and commercial operations.

Egypt-based proptech startup Aqar Exit has secured a US$200,000 (EGP10 million) investment from businessman Ayman Mamdouh Abbas, executive chairman of Intro Holding Group, in exchange for a 10% stake, valuing the company at approximately $2 million (EGP 100 million). Aqar Exit operates a platform for transferring property purchase contracts, targeting buyers who are struggling to meet instalment obligations on their real estate units. The platform connects these sellers with prospective buyers seeking properties at their original contract prices, without paying additional premiums, commonly known in Egypt’s property market as overprice. Under the company’s model, sellers can seek to recover the amounts they have already paid towards their properties without incurring contract assignment fees.

Nordic Impact Funds has invested an undisclosed sum in Uganda’s Irrisol Engineering. This follows the investment announcement by DOB Equity in early September. Irrisol is a water infrastructure company providing safe, reliable and affordable water to underserved rural and peri-urban communities in Uganda through solar-powered water systems. Irrisol designs, builds and operates solar-powered water mini-grids across Western Uganda. The systems deliver water directly to households and community taps, combining solar-powered pumps with consumption-based billing and mobile-money payments to make access to water more reliable and affordable.

Egyptian fintech MNT-Halan began trading on the Egyptian Exchange (EGX) on 20 October 2026 following an initial public offering that saw strong demand from institutional and retail investors. The IPO involved the sale of 320 million existing ordinary shares, representing 20% of MNT-Halan’s issued share capital, by existing shareholder MNT Investments B.V. The offering comprised 272 million shares allocated to institutional and other private-tranche investors and 48 million shares allocated to retail investors. The private tranche was 11.2 times oversubscribed, rising to 19.4 times excluding cornerstone investors, while the public tranche was 43.6 times oversubscribed, attracting more than 41,500 subscription orders.

Oryx Energies announced that it had signed an agreement with Amsons Group for the sale of its downstream oil business in Tanzania. The transaction forms part of Oryx Energies’ ongoing strategic review of its portfolio of downstream assets in Africa. Amsons Group is a diversified Tanzanian business group with an established presence in the region. The transaction marks a significant milestone in East Africa’s downstream energy landscape, transferring key retail service stations, storage terminals, and distribution infrastructure into local hands. Financial terms were not disclosed.

Aliko Dangote confirmed that his company had acquired a 25% stake in Kenya Pipeline Company in a deal valued at approximately US$327 million. The stake was acquired to facilitate the distribution of petroleum products. Earlier this year, Kenya sold a 65% stake in Kenya Pipeline Company through an initial public offering, in a major privatisation move aimed at raising government revenue amid limited fiscal space.

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