India's Solar Industries, a manufacturer of industrial explosives, announced on Monday, 14 September, that its subsidiary will acquire South African conglomerate Omnia Holdings — a specialist in mining, agriculture and chemicals — for approximately $1.36 billion in an all-cash transaction aimed at strengthening the Indian group's presence in Africa's mining sector.
Solar SA Investments, an indirectly wholly owned subsidiary of Solar Industries, will acquire all outstanding shares in Omnia, which is listed on the Johannesburg Stock Exchange. The transaction remains subject to approval by Omnia's shareholders and regulatory authorities.
The deal comes at a time when several African countries are seeking to scale up production and attract investment into critical minerals development. Zambia, for example, is targeting nearly a tripling of its copper output, buoyed by rising metal prices.
Solar Industries expects that expanding its presence across Africa will enable it to multiply revenues from its mining business from the 2028 fiscal year onwards.
Headquartered in western India, Solar Industries produces industrial explosives and initiation systems used across the mining, infrastructure, construction, defence and space sectors. The group operates more than 40 manufacturing facilities across multiple countries.
Omnia, for its part, supplies products and services to the mining and agricultural sectors, with a presence in 23 countries and clients across more than 40 markets.
In the financial year ended 31 March, the South African company recorded revenues of approximately $1.41 billion.
Source: Diário Económico
Original article: https://www.diarioeconomico.co.mz/2026/09/14/mundo/africa/africa-do-sul-indiana-solar-industries-quer-comprar-omnia/
