DealMakers AFRICA
Diageo has announced that it will sell its 58.02% stake in Guiness Nigeria PLC to Tolaram for NGN81.60 per share. The Nigerian firm will remain listed on the NGX following completion of the deal and Tolaram intends to launch a mandatory takeover offer. Diageo will retain ownership of the Guinness brand which will be licensed to Guinness Nigeria for the long-term.
Renew Capital Angels has invested in Zuri, a tech-enabled beauty company headquartered in the DRC. Zuri, founded in 2016 by Gisèla Van Houcke, aims to empower women through beauty, with products specifically designed to highlight and celebrate black women’s beauty.
British International Investment has sold its 10.1% stake in East African banking group, I&M Group to AfricInvest. Financial terms were not disclosed.
Development Partners International (DPI) has announced its second exit for the year – the investment firm has sold 100% of International Facilities Services (IFS) to a consortium comprised of ES-KO, Phatisa and IFS management. DPI first invested in the integrated facilities management business back in 2019. Financial terms were not disclosed.
African Export-Import Bank has disbursed US$40 milion in the form of an Intra-Africa Investment facility to Fidelity Bank Nigeria to support the bank acquisition and recapitalisation of Union Bank UK. The facility was provided in two tranches – the first $20 million was used to part-finance the acquisition and the second will support the recapitalisation.
Egyptian fintech Sahel has raised US$6 million in Serie A and seed funding. The Series A was led by Egyptian investment firm, Ayady for Investment and Development who joined existing investors Egypt Pay, Delta Electronic Systems and E-Finance.
Oikocredit has provided AfricInvest Private Credit (APC) with a US$10 million loan to support small and medium enterprises (SME’s) in Africa. APC is a non-bank financial institution, providing structured debt financing solutions to SME’s.
Disruptech Ventures, OneStop Capital, Axian Investment CVC, Egypt Ventures and other investors have participated in a pre-Series A funding round in Egyptian B2B medtech, i’SUPPLY, bringing the firm’s total funding to US$2,5 million since its inception in 2022.
The International Finance Corporation (IFC) has provided Johnvents Industries with a US$23,3 million financing package to help fortify the Nigeria agricultural sector and provide support to farmers in the West Africa country. The financing package includes an $8,5 million loan from IFC’s own account, a $6,3 million loan equivalent in Nigerian Naira with support from the local currency facility of the International Development Association’s Private Sector Window, and a $8,5 million loan by the Private Sector Window of the Global Agriculture and Food Security Program (GAFSP).
The Sovereign Fund of Egypt (SFE), via its healthcare sub-fund, has acquired a 20% stake in Care Pharmacies for EGP75 million. Under the terms of the transaction SFE will take control of 45 of the 220 branches run by Care Pharmacies.
DealMakers AFRICA is the Continent’s M&A publication
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