Mergers & Acquisitions | CEO Business Africa

Systems integrator +OneX acquires South Africa’s solutions provider EUCafrica

October 14, 2022October 14, 2022

SOUTH AFRICA – +OneX, the new-age solutions and systems integrator, has acquired South Africa’s leading Citrix on Azure solutions provider, EUCafrica, as part of its strategy to build a group that can deliver end-to-end digital transformation solutions to enterprise clients. The acquisition strengthens +OneX’s capabilities in end-user computing by adding one of South Africa’s leading specialists in the desktop-as-a-service and…

mPharma completes acquisition of Nigerian pharmacy retail chain HealthPlus

September 16, 2022September 16, 2022

NIGERIA – Africa’s leading patient-centered technology-driven healthcare company mPharma has completed its previously announced acquisition of Nigerian pharmacy retail chain HealthPlus Group, the firm announced on its website. mPharma announced that the Ghanaian healthtech company and the London-based private equity firm Alta Semper have signed an agreement leading to the acquisition of a majority stake in the HealthPlus Group. Under the terms…

Three foreign firms get approval to convert loans into equity shares in Wananchi Group

September 1, 2022September 1, 2022

KENYA – The Competition Authority of Kenya (CAK) has approved the conversion of loans advanced by three foreign firms to internet and pay TV provider, Wananchi Group into equity shares. The companies, Triple Hold Co Limited, Liberty Global Europe 2 Limited (Liberty), and Altice Africa S.A.R.L (Altice) will get certain controlling rights of Wananchi Group. “The transaction involves the three…

Four foreign funds acquire minority stake in fintech firm M-Kopa

August 30, 2022August 30, 2022

KENYA – Generation Investment Management and three other funds have bought an estimated 40 percent stake in asset finance fintech M-Kopa for an undisclosed value through a debt swap deal. Generation Investment Management, which was co-founded by former US Vice-President Al Gore, British government investing arm CDC and LGT Lightrock—a private equity fund backed the Liechtenstein royal family — will…

Mergence Investment Managers acquires majority stake in rental housing group Live Easy

August 30, 2022August 30, 2022

SOUTH AFRICA – Mergence Investment Managers, through its Infrastructure and Development Equity Fund, has acquired a controlling equity stake in a portion of the innovative affordable rental housing group, Live Easy. Mergence acquired the majority stake in Live Easy from funds advised by Stockdale Street, with one of South Africa’s largest commercial banks and Westbrooke Alternative Asset Management respectively providing…

Walmart doubles down commitment on Massmart, seeks to buy out minority shareholders

August 29, 2022August 29, 2022

SOUTH AFRICA – American multinational retail corporation, Walmart, plans to acquire all of the outstanding shares of South Africa based Massmart that it does not already own, excluding treasury shares, and if successful delist from the JSE, with CEO Mitchell Slape stepping down at year-end. The majority owner, Walmart, has offered to purchase the remaining stake in the owner of…

African Bank set to acquire majority stake in financial services provider Ubank

August 26, 2022August 26, 2022

SOUTH AFRICA – African Bank, a retail bank, has announce that it is the successful bidder to acquire the majority of Ubank’s disclosed assets and liabilities and to take on its employees on a going concern basis on the closing of the proposed transaction. Ubank is a well-established financial services provider with a strong presence across selected mining and rural…

Private Equity firm Ezdehar Management acquires 60% stake in Egyptian grocery retailer Zahran Market

August 26, 2022August 26, 2022

EGYPT – Zahran Market, Egyptian retail supermarket chain, has agreed to offload 60% its stake to private equity firm Ezdehar Management, to spearhead its future growth plan. Zahran Market, founded in 1987 as a family business, is accredited for being the first chain to open supermarket outlets in North Coast in 1997. Currently it boasts of operating 16 branches in…

Toyota Kenya acquires minority stake in solar installation company Ofgen

August 24, 2022August 24, 2022

KENYA – Toyota Kenya has acquired a 35 per cent stake in solar installation company Ofgen for an undisclosed value, deepening the auto firm’s interest in the growing clean energy market and offering an avenue to offset its carbon production. The Competition Authority of Kenya (CAK) approved the deal that will help the auto firm, now known as CFAO Kenya,…

Digital bank TymeBank acquires fintech company Retail Capital to bolster its banking offering

August 11, 2022August 11, 2022

SOUTH AFRICA – TymeBank, South Africa’s fastest growing digital bank, has acquired South African fintech company Retail Capital, which provides funding to small and medium-sized businesses, to bolster its business banking offering. The acquisition, which is subject to regulatory approvals, will see Retail Capital become a division of TymeBank, and the foundation of the bank’s expanded business banking offering. TymeBank believes…