Founded in 2011, IDC is a West African drilling company, with a unique positioning between local drillers and international majors. With more than thirty drilling rigs, IDC offers drilling services to the mining majors as well as to companies active in the construction and water sectors. IDC’s equity raise from Adiwale Partners, a leading West African private equity fund, will enable the company to expand further in West Africa, including in Sahel countries.
About IDC
Created in 2011 (www.idc-drilling.com/) is one of the leading African companies offering drilling services to the mining, construction, and water industries with four subsidiaries in West Africa (Senegal, Mali, Ivory Coast and Burkina Faso). IDC has been a member of the Senegalese Chamber of Mines (Chambre des Mines du Sénégal, CMDS) and the Côte d’Ivoire Chamber of Mines (Chambre Des Mines de Côte d’Ivoire, CDMCI) since 2011.
About Adiwale Partners
Adiwale Partners (www.adiwale.com) is an independent private equity fund manager founded in 2016 and based in Abidjan. It manages Adiwale Fund I, a 60 million euros fund. Adiwale Fund I offers growth capital and operational support to mid-size companies looking to strengthen their core activities and expand in West Africa and beyond. The fund invests primarily in consumer goods and services, business services and manufacturing.
Enexus has advised Kibo, the Mauritius-based private equity fund, in the sale of its shares in I&M Rwanda to Mr Egide Gatera.
Founded in 1963 as Banque Commerciale du Rwanda and acquired by I&M Group in 2012, I&M Rwanda is the second largest bank in Rwanda. With this investment, Mr Gatera indirectly becomes the third largest shareholder of I&M Rwanda, after I&M Group and Africinvest. Mr Gatera, one of the prominent entrepreneurs in Rwanda, operates in various industries, ranging from petroleum distribution to agribusiness and finance. His experience of the Rwandan economy will prove a valuable support to I&M Rwanda.
About I&M Group
I&M Group is a leading East African banking group listed on the Nairobi Stock Exchange. The group’s main presence is in Kenya, with subsidiaries in Rwanda, Uganda, Tanzania and Mauritius. I&M Group
About Mr Egide Gatera
Mr Egide Gatera is a leading businessman with diversified interests in Rwanda and East Africa. He is the founding shareholder of the oil company SP (Société Pétrolière) and the agribusiness company Rwanda Mountain Tea. Mr Gatera also holds diversified interests in the banking and insurance industries in Rwanda, as well in real estate, tourism and energy.
About Kibo fund
Kibo Capital Partners is a private equity management company, with two funds under management with assets totalling USD 100 M. Kibo funds target growth companies in Eastern and Southern Africa and the islands of the Indian Ocean. Kibo fund
Enexus has advised Philafrica Foods, an AFGRI Group’s investment vehicle specialised in food processing in Africa, on the sale of its cassava processing unit in Ivory Coast.
This cassava processing unit aims to produce local starch as an alternative to imported corn starch used in the food industry. Certified ISO 22 000, the plant has a production capacity of nearly 500 tons per month that should meet the growing interest of the food industry for these products.
As part of this sell-side mandate, the transaction ensured a smooth transfer of the asset and supported the continuation of its industrial development.
About Philafrica Foods
Philafrica Foods is an investment company involved in food processing in Africa. Philafrica Foods invests to expand local sourcing and production across the continent by setting up new production sites or partnering with existing companies in Africa. Philafrica Foods belongs to AFGRI Group.
Founded in 1952, SOGEDI is the oldest and largest company producing and distributing industrial gas in the Republic of Guinea. Supported by Guinea’s growth prospects, especially in the bauxite and iron mining industries, SOGEDI should consolidate its position and rapidly emerge as a regional player. The takeover by Elton Oil International, a leading petroleum products distributor in West Africa, will support SOGEDI’s growth while maintaining the highest standards of safety and reliability.
Enexus has advised the sole shareholder of SOGEDI in its sale to Elton Oil International. Through a well-structured sell-side M&A process, the transaction ensured a seamless ownership transition while preserving operational standards.
About SOGEDI
SOGEDI produces and bottles oxygen, nitrogen and acetylene, and distributes argon, carbon dioxide and other rare gases. Its customers are mainly mining companies and their subcontractors, as well as bottling companies.
About Elton Oil International
Founded in 2000, Elton Oil International distributes petroleum products in Senegal, Côte d’Ivoire, Mali, Guinea and Guinea-Bissau. Elton Oil International is a subsidiary of SAGAM, a leading West African player in security services – cash transport, electronic security, means of payment and private guard services. Elon Oil International Sagam International
After ten years supporting Orange’s growth in Madagascar, the consortium divested its 16% stake in Orange Madagascar
About Orange Madagascar
As Madagascar’s long-standing operator, Orange holds a dominant position in the voice and data segment, both for individuals and businesses, and has become one of the leading players in digital finance through the subsidiary Orange Money Madagascar. With an estimated 9% growth over the next few years, the Malagasy telecom market is expected to be one of the most dynamic in Africa, especially in the B2B segment, which is benefiting from Madagascar’s growing attractiveness as a BPO destination.
About Terra Mauricia
Terra Mauricia is a Mauritian conglomerate founded in 1838 and listed on the Stock Exchange of Mauritius. Originally operating in the sugar industry, the group has gradually diversified into energy, distribution, real estate, construction, tourism and financial services.
About Kibo Capital Partners
Kibo Capital Partners is a private equity asset manager targeting growth companies in Eastern and Southern Africa and the islands of the Indian Ocean.
