This morning’s transactions are about buying or building the route into a market: Kenyan investors into a Nigerian IPO, a Namibian group into South African asset finance, a fintech into regulated payments and an agri-platform into regional distribution.
Kenya opens a regulated route into the proposed Dangote Refinery IPO
Kenya’s Capital Markets Authority licensed seven local firms to facilitate subscriptions into the proposed Dangote Petroleum Refinery IPO through a GDR route. The IPO is still pending, but the access architecture is becoming part of the transaction: custody, settlement, FX and investor education will determine whether cross-border demand can convert into ownership.
East Africa Foods raises approximately US$40 million
Tanzania’s East Africa Foods raised approximately US$40 million in blended equity and debt to expand aggregation, storage and food-distribution infrastructure. The capital is meaningful; the return will be earned through throughput, lower spoilage, working-capital discipline and denser routes.
Capricorn bids for control of Centrafin
Namibia-listed Capricorn Group made a binding offer for 81.6% of South African asset-finance company Centrafin at an indicated enterprise value of R788.3 million, with a path to full ownership over five years. The deal is a test of whether control, funding access and disciplined credit underwriting can produce more value than the purchase price alone suggests.
Kredete buys a regulated entry point into South Africa
Kredete acquired a licensed South African crypto-asset service provider in an all-share transaction. The licence shortens the route into the market; the work now is to make governance, compliance and product economics scale with it.
East African Cables control transaction receives clearance
Competition authorities cleared Cable Experts’ acquisition of a 68.37% controlling stake in East African Cables from TransCentury receivers. Regulatory clearance moves the transaction closer to execution, but the value case still turns on liquidity, supplier confidence, plant utilisation and a credible 100-day plan.
Forafric signs an LOI for Al Nasr
Forafric signed a non-binding letter of intent to acquire 100% of Al Nasr Industries & Systems. A definitive agreement is not assured. The distinction matters: an LOI creates a route to diligence; it does not transfer ownership.
Strategic supply becomes a condition of global mining control
Anglo American’s proposed combination with Teck and the separate sale of its Brazilian nickel assets to MMG show how strategic supply is becoming part of regulatory approval. China is linking copper-supply continuity to the merger, while Europe is reviewing the nickel sale. Approval conditions are becoming economic terms of the deal.
Gold M&A activity remains high but closing risk is rising
Perseus Mining says gold-sector M&A activity remains high, but valuation differences are making deals difficult to close. A rising commodity price can widen the gap between what sellers expect and what disciplined buyers can underwrite.
What the structure tells us
Africa’s transactions are building routes into markets: investor access, regulated licences, equipment finance and food distribution. The global mining deals show the same issue at a larger scale, where access to strategic supply is becoming a condition of regulatory approval.
That is why 0to1 follows the transaction rather than only the headline. Ownership says who controls the asset. Market access, licences, capital and regulatory conditions determine whether that control can be turned into cash flow.
IPO · GDR · M&A · growth capital · asset finance · fintech · market access · mining