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Good morning from Billionaires.Africa.
Here is a brief on what we published yesterday.
Three blockbuster deals in a single day. Afreximbank underwrote $2.5 billion of a $4 billion loan for Dangote's refinery — the pan-African lender's largest single commitment to an industrial project in its history. Johann Rupert's Remgro signed a $950 million deal to take full control of Mediclinic Southern Africa, splitting the hospital group's assets along geographic lines with MSC's investment arm. And Sysco agreed to buy eSwatini-born billionaire Nathan Kirsh's Jetro Restaurant Depot for $29.1 billion — one of the largest food distribution deals in US history, closing a chapter on a business Kirsh built from a single warehouse nearly 50 years ago.
Elsewhere, Motsepe's ARM is buying into a Canadian copper explorer, Oando signed its first Angolan oil block, and Simon Tiemtoré's Vista Group entered Central Africa with a Chad bank acquisition.
Top Stories
Afreximbank underwrites $2.5 billion of $4 billion Dangote refinery loan The five-year syndicated facility, announced in Cairo, consolidates existing debt and positions the 650,000-bpd refinery for its expansion to 1.4 million barrels per day. Access Bank was appointed co-Mandated Lead Arranger.
Rupert's Remgro takes full control of Mediclinic Southern Africa in $950 million deal Remgro buys Mediclinic's South African operations while MSC's investment arm takes the Swiss Hirslanden group, splitting the hospital empire by geography in a 1:1 value exchange. Long-stop date is September 2027.
Sysco buys Nathan Kirsh's Jetro Restaurant Depot for $29.1 billion Kirsh, 94, built Jetro from a single warehouse in 1976 into 166 locations across 35 US states, generating $16 billion in revenue and $2.1 billion in EBITDA. The deal hands shareholders $21.6 billion in cash and 91.5 million Sysco shares.
Deals & Moves
Motsepe's ARM buys near-20% stake in Canadian copper explorer Surge Copper ARM subscribed for 7.96 million units at CAD 0.50 each in a CAD 3.98 million private placement, gaining equity and warrants in the early-stage copper project.
Oando signs production sharing contract for Angola's Block KON-13 Wale Tinubu's Oando holds a 45% operating stake alongside Effimax Energy, Sonangol and Walcot — the Nigerian energy group's first entry into the Angolan upstream market after a decade of pursuit.
Vista Group wins approval to acquire Chad's BAC bank Simon Tiemtoré's Vista Group enters Central Africa for the first time. Chad has formal banking access of roughly 15 percent and credit-to-GDP below 10 percent — exactly the underbanked markets Vista has built its strategy around.
Southern Africa
Simon Rudland's Swift Transport expands Zimbabwe fleet by 100 trucks The latest move in a billion-dollar empire spanning logistics, tobacco and mining.
Datatec expects full-year gross profit to rise 10% to $998 million Jens Montanana's tech group signals strong second-half demand across its Westcon and Logicalis divisions ahead of May results.
This week's Investor Memo is available for Elite subscribers:
→ Investor Memo: South Africa's Fuel Reckoning — Two Weeks of Reserves and a Record Price Shock
