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

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

Published Date: 2020-05-29 | Source: DealMakers | Author: Marylou Greig

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

DealMakers AFRICA

  • Development Partners International (DPI), a pan-African private equity firm, has announced a US$56 million investment into Tunisian tomato processing and agri-business SICAM. The investment was made by its third fund Africa Development Partners III.
  • Trigon Metals a publicly-traded Canadian exploration and development company with its core operations focused on copper resources in Namibia, has entered into a share purchase agreement to acquire 100% equity interest in Moroccan company Technomine Africa S.A.R.L. The acquisition from Technomine shareholders will give Trigon a 100% interest in the Silver Hill Project in the Anti-Atlas region of Morocco, the home to Africa's major silver mines. Trigon will pay C$500,000 in cash and 6 million shares. In as second payment one year on, Trigon will pay C$400,000 and issue shares equal to C$250,000.
  • ZCCM Investments Holdings subsidiary Consolidated Gold Company Zambia, has entered into a 65%:35% joint venture with Array Metals, a global mining firm. The joint venture will process gold ore in Mumbwa, west of Lusaka. An initial $2,5 million will be invested in the first stage of the project with mining and processing operations earmarked to start by mid-June 2020.
  • Mediterrania Capital Partners, through its fund MC III, has led a consortium of investors in an investment in Egypt-based diagnostics imaging company MetaMed from Middle East- and Africa-focused alternative investment firm Gulf Capital. The transaction has a total value of over €100 million.
  • Volt Resources, an ASX-listed company, has entered into an agreement to conditionally acquire an 85% stake in Luiri Hill Gold Project in south-central Zambia. The project licences are held by two Zambian entities. Cupriferous Resources holds a Large Scale Exploration Licence, and with Bukimo Mining the two jointly hold a Mineral Processing Licence. The two entities will be acquired by an Australian parent entity which is to be incorporated by Volt prior to settlement, which in turn will be owned 85% by Volt and 15% by the project vendors. Consideration payable is by way of the issue of A$3,75 million in ordinary shares and a payment of A$250,000 in cash.
  • Cepheus Growth Capital Partners has acquired a significant minority stake in East African Lion Brands Manufacturing Share Company. Lion Brands, which is part of the East African Group which is based in Addis Ababa, is focused on expanding its production capacity to meet the growing demand for its products and facilitating operational enhancements.
  • Carry1st a gaming development startup with offices in New York, Cape Town and Lagos, has raised a Series Seed round of US$2,5 million led by CRE Venture Capital with participation from Perivoli Innovations, Chandaria Capital, Lateral Capital, Transsion's Future Hub, and Kam Kronenberg III, among others. The investment will be used to bring more unique content onto its platform and expand distribution channels.
  • KCB Bank has acquired assets valued at Sh3,2 billion from Imperial Bank. Imperial was put under receivership in October 2015. KCB won the bid for Imperial in 2018 with KCB's offer for its acquisition accepted in April 2019. The Sh3,2 billion will be paid over a period of four years.
  • MTN Nigeria, has announced its proposed Series I and II Commercial Paper issuance of up to ₦50 billion. The issuance is part of the company's strategy to diversify its financing sources with the funds being deployed towards working capital and general corporate purposes.
  • Mesozi Group, a Kenyan tech company, has received a $350,000 investment from Viktoria Business Angels Network, Growing Africa Capital and a number of global venture capital companies to fund the expansion of its retail tech platform MarketForce 360. The platform allows clients to estimate demand and tailor their sales, distribution and marketing efforts based on real-time market trends and consumer purchasing habits.
  • Central Bank of Egypt has issued dollar-denominated Eurobonds worth $5 billion, the biggest international bond issuance in its history. The issuance is to provide urgent funding to deal with the coronavirus pandemic. The issuance was in three tranches with maturities of four, 12 and 30 years.
  • mPharma, a Ghanaian healthtech startup has reportedly raised $17 million from CDC Group, a development finance institution owned by the UK government. The funding, according to a Quartz Africa article, will be used to expand the company's vendor management inventory system and QualityRx platforms used by 250 pharmacies in Ghana, Kenya, Nigeria, Zambia and Zimbabwe.
  • Bolt, a leading transportation platform with offerings in seven countries across the African continent, has closed an investment round of €100 million from Naya Capital Management, a UK investment manager. The fund will be used to scale all of its product segments from ride-hailing to micromobility and food delivery in Europe and Africa.
  • United Capital plc has raised ₦10 billion in its Series 1 Bond issuance under a ₦30 billion Medium-Term Debt Programme. The bond which was oversubscribed is the first non-banking issuing house to issue a corporate bond in the history of the Nigerian capital market.

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