DealMakers AFRICA
Africa Finance Corporation has closed a US$150 million senior loan to Kamoa Copper to support the expansion of the Kamoa-Kakula Copper Complex in the DRC. Production started in July 2021 at the project which is situated on the western edge of the Central African Copperbelt, and it is currently undergoing a third phase of expansion which includes a 33% increase in production capacity and the construction of a 500,000 tpa copper smelter.
Egyptian fintech Connect Money has raised US$8 million in a seed funding round. Investors included DisrupTech Ventures, Algebra Ventures, Lorax Capital Partners, One Stop Capital and MDP. The funding will be used to expand in the Egyptian market and in other African countries such as Kenya and Morocco.
HostAfrica has acquired Nigerian web design agency Naijawebhost. Financial terms were not disclosed. This is the second acquisition in Nigeria for the South African firm, in 2021, the company acquired DomainKing.
African Export-Import Bank (Afreximbank) is providing Zimbabwe’s CBZ Bank US$80 million in debt through a $60 million line of credit, plus a $20 million Afreximbank Trade Facilitation Programme facility.
Eos Capital, through its Euphrates Agri Fund, has partnered with Africa Venture Partner Projects and Oyeno Poultry Industries to invest in Namibia’s Kadila Poultry Farming. The undisclosed funding will be used to construct a 6-house broiler farm between Windhoek and Okahandja with a capacity to produce 400 tons of poultry meat per month.
Africa Oil Corp and BTG Pactual Oil & Gas have reached agreement to consolidate their shareholding in Prime Oil & Gas Coöperatief (a 50:50 joint venture between the two firms which owns an 8% participating interest in the Chevron operated petroleum mining lease (PML) 52 (Agbami field) and petroleum prospecting license (PPL) 2003 plus a 16% participating interest in the TotalEnergies operated PML 2 (Akpo field), PML 3 (Egina field), PML 4 (Preowei field) and PPL 261). BTG Pactual Holding will be amalgamated into a newly created Africa Oil subsidiary in return for shares in Africa Oil. Upon completion, BTG will own c.35% of Africa Oil.
Gibb River Diamonds has acquired two uranium projects – the Erongo Project and the Kunene Project – which consist of six Exclusive Prospecting Licenses covering 1,828km². Financial terms were undisclosed.
Humanitarian organization, CARE, has announced a strategic partnership and investment in Ugandan fintech, Ensibuuko. Financial terms were not disclosed, but the partnership will see CARE acquire Ensibuuko’s proprietary Chomoka application, a digital solution for savings groups.
Following the December 2023 update, Marula Mining Plc has confirmed that it is seeking to list on the Growth Enterprise Market Segment of the Nairobi Securities Exchange in July 2024 following its recent investment in the Larisoro Manganese Mine located in Samburu County.
Phatisa and Finnfund have exited their investment in Sierra Leone’s Plating Naturals to PaLenDu, an affiliate of the Dutch Dekker Group. No financial terms were disclosed. The duo first invested in the palm oil producer’s predecessor entity (Goldtree) in 2011. At the time, this was a brownfield investment aimed at rebuilding a palm oil mill in Daru which had been destroyed during the civil war. Planting Naturals now owns over 5,500 ha of its own plantations and produces over 7,000 tonnes of sustainable crude palm oil annually.
Carlyle announced the acquisition of a portfolio of gas-weighted exploration and production assets based in Italy, Egypt and Croatia from Energean. The portfolio includes interests in Cassiopea, Italy’s largest gas field in terms of reserves, and Abu Qir, one of the largest gas producing hubs in Egypt. No financial terms were disclosed.
The Fidelity Bank Plc Rights Offer of 3,200,000,000 ordinary shares of 50 kobo each at ₦9.25 per share, opened on Thursday 20 June. The offer is scheduled to close on 29 July.
DealMakers AFRICA is the Continent’s M&A publication
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