Bank of Mauritius Clears Omnicane’s Acquisition of SPICE Finance

The central bank’s approval, granted on 22 October 2025, marks a key moment in the transaction, which is part of the Omnicane Group’s broader strategy to expand beyond its traditional energy and agro-industry focus. Omnicane’s diversification into the financial sector has taken a significant step forward after the Bank of Mauritius (BoM) gave its consent for the acquisition of SPICE Finance Ltd.

Omnicane Limited’s board confirmed that the BoM granted its ‘agreement in principle’ for its subsidiary, Omnicane Management & Consultancy Limited, to buy 100% of the shares in SPICE Finance Ltd.

Conditions Remain

This decision moves the process closer to finalisation, following the initial agreement struck earlier this year.

However, the deal remains contingent on meeting several regulatory requirements, including obtaining authorisations from all competent authorities.

Omnicane stated that both shareholders and the public will be kept informed of the transaction’s progress.

Strategic Move

The acquisition is a core component of Omnicane’s diversification strategy, aimed at entering the financial domain to broaden its activities and strengthen its presence in new economic segments.

SPICE Finance Ltd is a Mauritian company specialising in asset financing, regulated by both the Bank of Mauritius and the Financial Services Commission (FSC).

Its integration is expected to allow Omnicane to access a new field of financial activities and expand its revenue streams.

Timeline of the Deal

The acquisition process began on 16 April 2025 when Omnicane reached an agreement in principle with UIL Asset Finance Ltd for the takeover of its subsidiary, SPICE Finance Ltd. This was followed by the formal signing of a Share Purchase Agreement on 3 June 2025.

In accordance with the listing rules of the Stock Exchange of Mauritius, this transaction is classified as a disclosable deal under Chapter 13. Omnicane has committed to communicating any relevant updates as the approval process advances.

Source: Defi Media