Review of Week of 05 October 2026

Across this week’s featured transactions, African private markets witnessed substantial capital deployment driven by mega-scale corporate restructurings, multi-billion-dollar buyouts, and institutional private equity fundraising. Activity was headlined by Sanlam’s $1.2B privatization offer for Santam Insurance and Infinite Partners’ oversubscribed $170M Fund II close, alongside cross-border financial services consolidations such as Andersen’s acquisition of Merchantec Capitaland AfricInvest Group’s backing of Vantage Payment Systems.

Meanwhile, real estate, telecom infrastructure, and agritech continued to command major debt and equity flows, illustrated by Shelter Afrique Development Bank’s $100M sustainable bond and Absa Group’s $30M debt facility for Ilitha Telecommunications, while strategic exits like RMB - Rand Merchant Bank Ventures’ acquisition of MoreCorp underscored long-term liquidity across South African middle-market buyouts.

01. Sanlam Launches $1.2B Minority Buyout to Privatize Santam

South African financial services giant Sanlam has initiated a offer to acquire the remaining minority shares in listed short-term insurer Santam Insurance in a deal valuing the transaction at $1.2 billion. The privatization move aims to streamline Sanlam’s non-life insurance operations, consolidate balance sheet capital, and deepen its market penetration across Pan-African insurance markets.

Target: Santam Insurance

Amount: $1.2 Billion Implied Deal Value

Type: Take-Private / Minority Buyout

Acquirer / Investors: Sanlam

Sector: Insurance & Financial Services

Country / Region: South Africa / Southern Africa

02. Infinite Partners Closes Fund II Over-Subscribed at $170M

Mid-market private equity manager Infinite Partners successfully completed the final close of its second private equity fund at $170 million, surpassing its initial target. The vehicle will target growth capital deployments, control buyouts, and buy-and-build strategies across sub-Saharan African enterprise services, healthcare, and industrial technology.

Target: Infinite Partners

Amount: $170 Million

Type: Private Equity Fund Close

Acquirer / Investors: Institutional LPs & DFI Syndicate

Sector: Private Equity / Multi-Sector

Country / Region: Sub-Saharan Africa

03. Shelter Afrique Issues $100M Sustainable Housing Bond

Pan-African housing finance institution Shelter Afrique Development Bank issued a $100 million sustainable bond to finance affordable housing and urban infrastructure projects across West Africa. The multi-currency issuance expands local currency housing debt capital markets and aligns with green construction and municipal development mandates.

Target: Shelter Afrique Housing Program

Amount: $100 Million

Type: Sustainable Bond Issuance

Acquirer / Investors: Institutional Debt Investors & Pension Funds

Sector: Sustainable Real Estate & Infrastructure

Country / Region: West Africa

04. East Africa Foods Raises $40M to Expand Regional Supply Chain

Tanzanian agritech platform East Africa Foods (EA Foods) secured $40 million in combined equity and debt financing to scale its fresh-produce distribution network and cold-chain storage footprint. The capital will fuel regional expansion into neighboring East African markets, optimizing farm-to-retail B2B supply chains and reducing food waste.

Target: East Africa Foods EA Foods

Amount: $40 Million

Type: Corporate Growth Capital (Equity & Debt)

Acquirer / Investors: Commercial Debt Lenders & Agribusiness VCs

Sector: Agritech & Logistics Infrastructure

Country / Region: Tanzania / East Africa

05. Beltone and Amtar Launch $38.2M Fractional Real Estate Fund

Egyptian investment bank Beltone partnered with proptech platform Amtaar to launch a EGP 1.87 billion ($38.2 million) fractional real estate investment fund. The product enables retail and institutional investors to acquire fractional ownership tokens in high-yield commercial and residential property assets across Greater Cairo.

Target: Beltone-Amtar Fractional Real Estate Fund

Amount: $38.2 Million (EGP 1.87 Billion)

Type: Structured Real Estate Fund Launch

Acquirer / Investors: Beltone & Amtaar

Sector: Real Estate & Asset Management

Country / Region: Egypt / North Africa

06. Telecom Ilitha Secures $30M Debt Facility From Absa

South African fiber infrastructure operator Ilitha Telecommunications secured a R530 million ($30 million) senior debt facility from Absa Corporate and Investment Banking. The funding will accelerate the rollout of affordable, high-speed fiber-to-the-home (FTTH) broadband connections across underserved township communities in South Africa.

Target: Ilitha Telecommunications

Amount: $30 Million (R530 Million)

Type: Senior Debt Facility

Acquirer / Investors: Absa Corporate and Investment Banking

Sector: Digital Infrastructure & Telecoms

Country / Region: South Africa / Southern Africa

07. Maliasili Secures $15M Grant from MacKenzie Scott

Conservation-focused funding intermediary Maliasili received a $15 million unrestricted grant from philanthropist MacKenzie Scott. The non-dilutive capital injection will expand Maliasili’s community conservation fund, backing local environmental organizations and sustainable land management initiatives across Eastern and Southern Africa.

Target: Maliasili Community Conservation Fund

Amount: $15 Million

Type: Unrestricted Grant Funding

Acquirer / Investors: MacKenzie Scott (Yield Giving)

Sector: Environmental Conservation & Impact

Country / Region: Regional Africa

08. Andersen Acquires South African Investment Bank Merchantec

NYSE-listed professional services firm Andersen acquired South African corporate finance and investment advisory boutique Merchantec Capital. The acquisition expands Andersen’s transaction advisory, valuation, and sponsor services capabilities across Southern Africa’s public and private equity markets.

Target: Merchantec Capital

Amount: Undisclosed

Type: Cross-Border Corporate M&A

Acquirer / Investors: Andersen

Sector: Corporate Finance & M&A Advisory

Country / Region: South Africa / Southern Africa

09. M-KOPA Acquires Finnish Phone-Locking Firm KilpiTek for $8M

Asset-finance fintech M-KOPA acquired Finnish smart-device security developer KilpiTek for $8 million in cash and equity. The strategic cross-border tech acquisition secures full intellectual property control over M-KOPA’s core phone-locking technology, driving down hardware unit economics across its African smartphone financing operations.

Target: KilpiTek

Amount: $8 Million

Type: Strategic Technology M&A

Acquirer / Investors: M-KOPA

Sector: Fintech & Enterprise Software

Country / Region: Kenya / Finland

10. RMB Ventures Acquires MoreCorp as Old Mutual PE Exits

South African private equity firm RMB - Rand Merchant Bank Ventures acquired a controlling interest in leisure and sporting goods retailer MoreCorp. The buyout facilitates a complete exit for Old Mutual Alternative Investments following a ten-year holding period, positioning MoreCorp for its next phase of retail distribution expansion.

Target: MoreCorp

Amount: Undisclosed

Type: Institutional LBO / Sponsor Buyout

Acquirer / Investors: RMB - Rand Merchant Bank Ventures (Seller: Old Mutual Alternative Investments)

Sector: Retail & Consumer Goods

Country / Region: South Africa / Southern Africa

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