Who’s doing what in the African M&A space?


Who’s doing what in the African M&A space?

Published Date: 2019-03-15 | Source: DealMakers | Author: Marylou Greig | Comments

Who’s doing what in the African M&A space?

DealMakers AFRICA

  • United Oil and Gas has entered into an option agreement to acquire 20% of the Block B production-sharing contract in Benin from Elephant Oil. The 1.1 million-acre block is in the Dahomey Embayment west of Contonou. Oil has agreed to fund further seismic surveys up to a value of $175,000. If the option is exercised, United will fund 30% of non-drilling and 20% of drilling costs in the first phase. It will also pay Elephant just over $1 million.
  • Qatar Petroleum have entered into a farmout agreement with Eni which will allow Qatar Petroleum a 25.5% participating interest in Block A5-A offshore Mozambique. Eni operates the Block A5-5 Consortium and has a participating share of 59.5% which will reduce to 34% after the farmout is approved. Other partners are Sasol (25.5%) and state-owned Empresa Nacional de Hidrocarbonetos (15%).
  • Jumia a pan- African e-commerce company headquartered in Nigeria, has filed for an IPO on the New York Stock Exchange. Jumia operates multiple online verticals in 14 African countries.
  • International Cement Group the Singapore stock exchange listed company, is said to have expressed interest in acquiring Schwenk Namibia for $104,4 million.
  • Enko Capital, has acquired shares in Kenyan Software Technologie. The acquisition was made through subsidiary Enko Africa Private Equity Fund.
  • Exim Bank Tanzania has made an offer to Pakistan-based UBL for the purchase of UBL Bank of Tanzania. The offer price was undisclosed.
  • Pan African Towers a Nigerian firm, has signed $20 million infrastructure investment deal with Watt Renewables. The partnership will see the Canadian firm provide alternative energy solutions to all towers owned and managed by Pan African Towers in Nigeria.
  • Sidian Bank a commercial bank in Kenya, is to receive a $12 million Tier 2 capital injection from The Investment Fund for Developing Countries (IFU), a Danish Development Finance Institution. As part of the agreement, IFU will have the option within three years to convert their investment into equity. The funds will be used by the bank to further its mission to empower entrepreneurs through the strategic growth of its loan book with a key focus on the SME loan book, trade finance portfolio and mobile lending.
  • OneFi the Lagos-based finance company, has secured a $5 million debt facility from Lendable, a New York and Nairobi-based debt platform. The investment will be used to deploy more loans on its consumer facing mobile platform Paylater. The platform also provides user with a means to transfer money, recharge airtime and pay bills.
  • Delta Corp via its wholly-owned subsidiary Gaussian Software, has entered into an agreement to subscribe of 10 million shares of Jalesh Cruises Mauritius for $10 million.
  • Semafo the TSX-listed intermediate gold producer with exposure in West Africa, is to acquire all the issued and outstanding common shares of Savary not already owned. Savary is a Canadian exploration company focused on exploring and developing the Karankasso Gold Project in Burkina Faso. In terms of the transaction Savary shareholders will receive 0.0336 of a Semafo share for every share held translating to C$0.10 for every Savary share.
  • Africa Healthcare Network has raised an undisclosed amount in a Series A funding from Africa Healthcare Fund/Asia Africa Investment & Consulting and Polaris Partners, an existing investor. AHN runs the largest chain of kidney are and dialysis centres across East Africa.

DealMakers Africa is the Continent's M&A publication.

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