ENGIE completes the acquisition of Xina Solar One power plant in South Africa

SOUTH AFRICA – French utility company ENGIE has announced the completion of the acquisition of Abengoa’s indirect stake in Xina Solar One (Pty) Limited. Following completion of the transaction, ENGIE will now hold a 40% equity stake in the Xina Solar One 100 MW Concentrated Solar Power (CSP) plant, as well as 46% of the Xina Operations & Maintenance Company (Pty) Ltd. The Xina Solar One plant, located at Pofadder in the Northern Cape, provides approximately 400 GWh of clean, sustainable, and dispatchable electrical energy to 95,000 South African households…

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Imperial Logistics acquires 24% stake in Africa-focused online portal FIGJAM

AFRICA – Imperial, the African-focused integrated market access and logistics solutions group, has taken a 24 percent stake from November 1, 2021, in FIGJAM, a sales force automation solution provider in Africa.  FIGJAM was founded in 2013 to create an online portal through which businesses can actively manage field operations by focusing on and building technology to reach the geographically fragmented markets more easily in Africa. “Our investment in FIGJAM is in line with Imperial’s mobile commerce digital initiative and will provide our Market Access business, which has a footprint…

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MTN to sell its South Africa cellphone towers to IHS in a US$413.5m deal

SOUTH AFRICA – MTN South Africa has reached an agreement to sell its cellphone towers to IHS Towers for R6.4 billion (US$413.5 million), in a transaction that would help bolster the company’s arsenal for the anticipated auction of spectrum. MTN is selling and will lease back, 5,709 of its towers in South Africa, which include some 4 000 “greenfield” and 1,700 rooftop sites. The telco will also outsource power and related services. “Proceeds will be reinvested into strategic growth initiatives, such as securing high demand spectrum frequencies, and providing MTN…

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Flutterwave in aggressive Africa expansion with creator platform Disha acquisition

AFRICA – Flutterwave, the Silicon-Valley based and Pan-African focussed payments company has acquired Nigeria creator platform Disha in an undisclosed deal but is expected to be a six-figure amount. Disha is a platform allowing digital creators to curate and receive payments from their content and portfolios worldwide. Early 2021, Disha made an announcement of its closing down for unclear reasons. Under the terms of the deal terms, Disha will carry on operating as a separate brand and the start-up’s 20,000 users will earn value from their digital content using Flutterwave’s pay-out and…

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Vodacom acquires stake in Vumatel and Dark Fibre Africa

SOUTH AFRICA – Vodacom Group says it has agreed on terms to acquire a strategic stake in Community Investment Ventures Holdings’ fibre assets to boost its fibre business, reports Businesstech. Vodacom Group will hold a co-controlling 30% equity interest in a newly formed InfraCo entity into which all of the material assets currently owned by Dark Fibre Africa (DFA) and Vumatel will be transferred in addition to certain Vodacom owned fibre assets. The mobile operator said it has an option to acquire an additional 10% stake in InfraCo to 40%.…

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Vodacom to acquire Vodafone Egypt for US$2.7b

EGYPT – Vodacom Group is has announced that it will acquire Vodafone Egypt from parent Vodafone Group for US$2.71 billion, marking its entry into North Africa for the first time. The telco said the proposed transaction “provides a unique opportunity” to accelerate its growth. The group will acquire the controlling stake in Vodafone Egypt subject to regulatory and shareholder approvals and it will fund the acquisition of the 55% stake in Vodafone Egypt by issuing 242 million new ordinary shares at US$9.12/share and US$542 million in cash. “This values the proposed…

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Airtel completes sale of its Madagascar towers to Helios for US$51.7m

AFRICA – Airtel Africa has completed the sale of its telecommunications tower company in Madagascar to Helios Towers plc, an independent telecommunications infrastructure company in Africa, for the sum of US$51.7 million in gross consideration for the transaction. In a disclosure filed to the Nigerian Stock Exchange, the company noted that the proceeds from the transaction will be used to reduce group external debt and to invest in network and sales infrastructure in Madagascar. In March 201, Airtel announced its intentions to sell out its telecommunications tower companies in Madagascar…

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Digital Realty and Remgro in joint venture to acquire Medallion Data Centres, Nigeria

NIGERIA – Digital Realty, the global provider of cloud- and carrier-neutral data center, colocation and interconnection solutions, and Pembani Remgro Infrastructure Fund have announced the formation of a joint venture to acquire Medallion Data Centres, Nigeria’s colocation and interconnection provider. Medallion operates two data centers, one in Lagos, the most populous urban metropolitan area in Africa with approximately 15 million people, and one in Abuja, the capital of Nigeria.  Medallion’s Lagos data center is the leading connectivity hub in Western Africa with over 70 carriers and internet service providers, over…

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Health tech startup mPharma enters Uganda with Vine Pharmacy acquisition

UGANDA – mPharma, a Ghanaian health startup, has acquired a major stake in Ugandan-based pharmacy, Vine Pharmacy. The move comes two years after mPharma bought Kenyan-based Haltons Pharmacy for US$5 million, signaling the startup’s entry into the East Africa region. mPharma acquired the 55% stake that was previously owned by private equity firm, Abraaj Group, which had folded up after issues about its administration of the US$1 billion healthcare fund it had received from investors, including the Bill and Melinda Gates Foundation. Abraaj had acquired Vine Pharmacy in 2013 when it…

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Seacom acquires Hirani Telecom’s metro fibre network

KENYA – Pan-African telecommunications services provider Seacom has completed the 100% acquisition of Hirani Telecom’s metro fibre network. The network will be incorporated into Seacom’s existing metro network in Nairobi, Kenya, and will be under its full control. According to Seacom, Hirani Telecom is one of Kenya’s fastest-growing triple-play service providers and the largest last-mile provider in the region. It says the acquisition is part of Seacom’s ongoing strategy in the region to grow its on-net capabilities and provide its enterprise customers with world-class connectivity. Steve Briggs, Seacom’s chief sales and marketing…

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