“Enexus supported us in structuring and securing a financing from IFC to accelerate the expansion of our retail activities in Madagascar. Their strong understanding of our business model, combined with their experience working with development finance institutions, was key in designing and structuring a financing solution tailored to our needs, including debt sizing and balance sheet optimisation. Throughout the process, Enexus demonstrated a high level of commitment, pragmatism and execution capabilities, supporting us across all key aspects of the transaction and effectively coordinating stakeholders in an evolving environment. Their support was instrumental in bringing this transaction to completion.”
Talys Group’s debt fundraising with IFC
“The sale of our minority stake in I&M Tanzania was a lengthy and demanding process, marked by multiple challenges and a particularly complex regulatory environment. Over an extended period, Enexus demonstrated strong perseverance and commitment, maintaining momentum and continuing to support us through several unforeseen developments. Their ability to stay engaged over time, anticipate local constraints and coordinate stakeholders effectively was critical to achieving a successful outcome in a challenging context.”
Sale of a minority stake in I&M Tanzania
“Many thanks to the Enexus team for its support in the transaction leading to the sale of Baobab to Beltone. Enexus ran a professional and dynamic process, ensuring a successful exit for one of AXA’s long-standing investments.”
Sale of majority stake in Baobab Group to Beltone
“The sale of Baobab+ to Biolite represents a key milestone in the evolution of Baobab+ and a strategic move for the Baobab Group. We are proud to have supported the growth of Baobab+ into a leading provider of off-grid energy and digital solutions across West Africa and Madagascar. Enexus brought deep sector expertise and played a pivotal role in shaping and executing a competitive process, culminating in the successful sale to Biolite — a recognized industrial leader in sustainable energy solutions. Enexus’ ability to manage the transaction end-to-end, align stakeholders, and navigate complex cross-border dynamics was instrumental in securing a strong outcome for all parties involved.”
Full sale of Baobab+ to Biolite
“Divesting Air Liquide’s activities in 13 sub-Saharan African countries was a long and complex process. Enexus was instrumental to the deal’s success through its knowledge of the M&A process and its deep understanding of investor expectations in Africa, especially those of private equity funds. They provided the project team with useful and actionable advice, covering candidate selection, the due diligence process and final contract negotiation.”
Sale of Air Liquide’s 12 subsidiaries in West, Central and east Africa to Adenia
“The sale of Netis is a landmark deal for Enko Capital, and beyond, for the African private equity space at large. This success is the outcome of a conscious strategy by our team to prepare for the exit years in advance, and to organize a full fledge and structured M&A process to stimulate competition. Enexus has been instrumental in assisting us through this rewarding journey.”
Sale of a majority stake in Netis
“Enexus was instrumental in the sale of Avisen, from the initial decision to sell through to the closing of the transaction. Their support proved to be precious, given our limited experience in this field and the importance of this transaction for our shareholders. They showed remarkable patience and perseverance, guiding us through every step of the process and clarifying the high stakes and implications of our decisions. I would also like to thank Enexus for their commitment during the many hours of negotiations, in an effort to reconcile the occasionally divergent opinions of the various stakeholders.”
Full sale of Avisen to Olam Agri
“The sale of Castel’s water bottling activity in Ivory Coast has been a turning point for the Castel Group in Côte d’Ivoire, as we reviewed our positioning and decided to divest our PET beverage activities. Passing on this activity and ensuring its continuity was fundamental to us as Awa and Cristaline are historical brands which have become part of the Ivorian daily life. Carving-out added complexity and required us to approach the right buyers, capable of transferring smoothly this activity to their own operations. Enexus played a key role in the process through its understanding of the Ivorian market and the transactional constraints of a carve-out situation. Enexus successfully leveraged its broad network to help us find an investor that met our expectations.”
Sale of Castel Group’s water bottling activity in Ivory Coast to Carré d’Or
“Enexus Finance played a key role throughout Group Sahel’s capital raising process, from identifying potential investors through to closing the transaction. Their expertise enabled them to advise me on all issues involved in such a transaction, including the management of financial, legal and tax due diligence, valuation, the structuring of the operation, and the role of various shareholders and managers post-transaction. Enexus’ support in the deal structuring and negotiations was instrumental to the success of the operation.”
Groupe Sahel’s fundraising with Forafric
“We greatly enjoyed collaborating with Enexus. The team demonstrated an excellent understanding of the microfinance sector and its development dynamics in Africa. This expertise, combined with a deep knowledge of the investor landscape in Africa and outstanding interpersonal skills, was essential in ensuring the success of this transaction. Thanks to Enexus’s involvement, we were able to structure a strong partnership with Proparco to support Finafrica’s next phase of growth.”
Finafrica’s equity fundraising with Proparco
“For impact investors in the financial inclusion space, navigating through the complexities of an exit process is demanding. Enexus has been a valued and key partner all through to closing the transaction. Enexus has provided us with tactical insights and has delivered on its commitment to organize an efficient process.”
Sale of majority stake in Baobab Group to Beltone
“This transaction is a key milestone for Netis that will allow us to grow at an even increased pace. I am confident that we will look back on it as one of the turning points on the critical path to build a pan African champion. Enexus has definitely made a difference by attracting some of the most reputable anchor investors to back our group in the coming years.”
Sale of a majority stake in Netis
“Enexus’ expertise in full sale process proved very useful in the disposal of our palm and rubber businesses in Côte d’Ivoire, taking into consideration our limited M&A experience and bandwidth to devote to this transaction. We saw how complex a divestment process can be, and we were reassured to have Enexus on our side, leading this transaction end-to-end with a great degree of professionalism.”
Sale of Touton’s palm oil business in Côte d’Ivoire to SIFCA
“We were pleased to collaborate with Enexus on the CTB acquisition in Madagascar. They assembled an excellent team of internal and external experts for the project. Their vast experience in negotiating with family groups was vital to the transaction’s success. We particularly appreciated Enexus’ commitment, determination in overcoming challenges, and their solution-oriented approach, which ensured a smooth process from start to finish.”
Acquisition of Centre Technique Biomédical (CTB)
“We invested in I&M Rwanda at the time of the IPO, in 2017, and supported the bank in its expansion as it grew its customer base and embarked on a process of digitalization. We exited in 2021 to Mr Egide Gatera. As a private equity fund, we were happy to pave the way for a Rwandan entrepreneur to step in and bring his expertise and know-how. Leveraging its extensive network and knowledge of the region, Enexus supported us to bring the right investor at the right time and engage in fruitful discussions leading to this successful exit.”
Sale of I&M Rwanda
“Enexus identified exactly the investor profile I was looking for, namely a minority shareholder with long experience in Africa, who understood my business and its potential, and finally, rather a family group than an institutional investor. Enexus’ excellent knowledge of the West African business environment was decisive in this selection process. Enexus was also very helpful in advising me on modeling my business plan, valuing my start-up, negotiating with investors, and structuring governance with a co-shareholder. Last but not least, Enexus was able to identify the right legal counsel for the transaction, and work together with them to defend my interests in the best possible way.”
Trigger’s Reports’ equity raise with Eurofind
“Enexus’ assistance was key to drive an efficient process and close the transaction in a very short period of time. Enexus’ knowledge of the local environment was also very useful, especially as a bridge between French-speaking potential buyers and our English-speaking environment. They also helpfully assisted us in finding local legal expertise.”
Sale of Philafrica Foods’ cassava processing unit in Ivory Coast
“Our ambition is to strengthen our market position in Rwanda and benefit from the compelling growth of the country’s economy. The acquisition of Kibo’s stake by Mr Egide Gatera shows the confidence Rwandese businessmen have in I&M. Enexus’ financial expertise and understanding of our business was very helpful. In particular, we appreciated Enexus’ skillful understanding of all three parties’ – the buyer, the seller, and ourselves – expectations and interest, which was instrumental to bring the transaction to fruition.”
Sale of I&M Rwanda
“The divestment of our minority stake in Orange Madagascar required close coordination in a complex frontier-market environment, involving three selling shareholders with differing perspectives and a large listed international group as majority shareholder. Enexus played a central role throughout the process, acting as an effective interface between all parties, aligning views among the sellers and managing interactions with a multinational counterparty.Beyond their strong understanding of the regulatory framework and telecom sector dynamics, Enexus’ ability to navigate complex stakeholder relationships, balance expectations and maintain a constructive dialogue was instrumental in the successful completion of the transaction.”
Sale of stake in Orange Madagascar
“Enexus supported us throughout the sale process, from the moment we decided to sell right through to payment by the buyers. Enexus carried out a dynamic process, and we particularly appreciated their ability to anticipate, which enabled us to avoid certain complexities, particularly with regard to financial, legal, tax and social aspects.”
Sale of SOGEDI to Elton Oil International
“Enexus Finance provided invaluable support throughout our Series D fundraising, which successfully secured $50 million, with Mitsubishi as the anchor investor. Their expertise and strategic approach were instrumental in navigating the complexities of the transaction, from identifying the right investors to structuring the deal. Enexus’ deep understanding of our business model and the investor landscape, coupled with their professional and dedicated team, ensured a seamless process and a highly successful outcome. We are grateful for their partnership in achieving this important milestone for BBOXX.”
BBOX’s equity raise with Mitsubishi