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Inspiring Africa's Sustainable Business Growth
ANGOLA – Access Holdings Plc, the holding company of Access Bank Pl, has announced its planned acquisition of a majority equity stake of 51 per cent in Finibanco, an Angolan Bank. Finibanco is a full-service commercial bank with over 20 branches and around US$300 million in total assets in Angola. Sunday Ekwochi, the company secretary said that the transaction would…
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EGYPT – Development Partners International (DPI) has sold ADP II’s 33.4% stake in Egyptian retailer B.TECH to the Saudi Egyptian Investment Company (SEIC), a wholly-owned subsidiary of the Saudi Public Investment Fund (PIF). ADP II’s exit comes following a successful partnership with B.TECH, during which the business has accelerated its digital transformation efforts and cemented its position as the leading…
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SOUTH AFRICA – Pan African Resources PLC, a mid-tier African-focused gold producer, has announced that it has concluded its acquisition of Mogale Gold Pty Ltd and Mintails’ SA Soweto Cluster Pty Ltd. The Rosebank-headquartered gold producer entered into agreements to buy these mines from Mintails Mining SA Pty Ltd for ZAR50.0 million (US$2.8m), in November 2020. Mintails Mining SA, which…
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UGANDA – Renew Capital, an impact investment firm focused on developing small and medium-sized enterprises (SMEs) in Africa via its network of investors, the Renew Capital Angels, has made a new investment in Easy Matatu, a Ugandan minibus ridesharing service. The funding will be used to expand Easy Matatu’s end-to-end technological platform, which allows customers to reserve a seat on…
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KENYA— Britannia Industries, India’s largest bakery firm, has acquired a 51% stake in Nairobi-based Kenafric Biscuits and acquired full control of Britania Foods. In a filing with the Bombay Stock Exchange, Britannia Industries noted the deal was instigated by its subsidiary Britannia and Associates (Dubai), or Badco, for INR92m (US$1.1m). Concurrently, Britannia Industries has fully acquired all of the shares…
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