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Mergers & Acquisitions

Seven people in dark suits seated at a long table draped in white cloth, with "Director" name plates, in front of a screen showing NIC Holdings' 25th AGM branding and a slide of the shareholder vote to reappoint BDO East Africa as auditors.
NIC Holdings Limited

NIC’s loss narrows as its insurance business shrinks

NIC Holdings swung to a Shs2.5bn underwriting loss in the first half of 2026 as revenue fell 15.9 per cent, with Cornerstone's takeover awaiting approval
The Nation Media Group's head offices in Nairobi
Newspaper industry

Why the Aga Khan Fund is parting with Nation Media Group after 66 years

AKFED sells its controlling stake in Nation Media Group to a Tanzanian businessman, ending a 66-year relationship with East Africa's biggest media house
MTN Uganda non-executive director Charles Mbire rings the bell to mark the telecoms company's listing on the Uganda Securities Exchange, December 2021
MTN Uganda

MTN MoMo is a proven profit machine — so why is MTN changing its structure?

Investor protection, market transparency, and corporate governance in question, says Crested Capital in commentary note
The head offices of MTN Uganda in Kampala

MTN Uganda plans to spin off mobile money business

The telecom giant MTN Uganda plans to restructure its mobile money business by separating it from its direct ownership and transferring the unit to a newly formed company through a merger
Ionic Rare Earths Limited workers at the Makuutu Rare Earths Project in Eastern Uganda. Ionic Rare Earths Limited, the Australian mining company, has acquired an additional 34 per cent interest in Rwenzori Rare Metals Limited, the owner of the Makuutu Rare Earths Project, bringing its majority interest in the project to 94 per cent, as it prepares for small-scale production in a few months' time.
Makuutu Rare Earths project

Ionic Rare Earths increases stake in Makuutu project to 94%, says deal will ease financing negotiations

Mine expected to start production in first quarter next year, albeit small scale and for potential customers and off-takers
A lorry owned by Biyinzika Poultry International Limited, which was has been sold by its owner, 8 Miles LLP, a UK-based private equity fund, to a consortium that includes an American company and a “regional industry executive.” Established in 1990 as a poultry breeder, Biyinzika is one of Uganda’s leading suppliers of day-old chicks, poultry feeds, broilers and dressed chicken. Its brands include Pearl Chicken and Biyinzika Feeds.

8 Miles sells Biyinzika Poultry to investor consortium as it winds down operations

8 Miles, the UK-based fund, has sold its entire stake in Biyinzika Poultry International Ltd to a consortium that includes an American company and a regional industry executive
A group of men on a guided tour, directed by another man, in a pharmaceuticals factory
Africa Capitalworks SSA 3

Quality Chemical Industries gets new owner as Cipla exits

Africa Capitalworks SSA 3, an investment vehicle based in Mauritius, is the new majority shareholder of the pharmaceutical company
Hima Cement's plant in Kasese, western Uganda

Uganda’s Sarrai buys Hima Cement from Swiss Holcim Group

Sarrai Group and another Ugandan company will own 100 per cent of Hima Cement and its Rwandan subsidiary once the transaction closes
Downtown Kampala - picture taken from a distance

Olea Insurance expands into Uganda with Ballpark Insurance Group stake

Deal to buy Ugandan firm is latest move by French insurance broker to expand its African footprint, which now spans 25 countries

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