Johannesburg – June 29, Ecsponent Limited announced a series of transactions today, which will see the Group expand it’s African investment portfolio, with a particular focus on renewable energy and financial services that promote financial inclusion. Since the end of March 2018, the Group has announced it’s intention to conclude transactions in excess of R1 billion as a continuation of it’s strategy to enhance the Ecsponent Group’ Equity Holdings portfolio, by investing in assets that will provide the Group with medium to long-term capital growth.
In the transactions announced today, Ecsponent Treasury Services will acquire 100% equity in Pink Orchid, pending relevant shareholder and board approval, in a transaction worth R280 million. It involves the acquisition of various assets with profitable opportunities to extend it’s African and foreign currency investment portfolio.
In addition to acquisition, Ecsponent has entered into an investment management agreement, which if approved, sees Ecsponent Limited, HMHK Capital and Ecsponent Botswana cooperate for 10 years, with the agreement renewable thereafter.
HMHK Capital is currently controlled by Zimbabwean businessman George Manyere. Manyere was the founder and CEO of Brainworks Limited, a diversified investment holding company and the first Zimbabwean company with a primary listing on the JSE’s main board. He is also the vice charman of Ecsponent’s board and the company’s majority shareholder. MHMK Capital has a significant portfolio and pipeline of deals in several sectors and countries, which will assist the Group achieving its objectives.
In another agreement, Ecsponent will subscribe for a maximum of 40 000 000 shares in Invest Solar Africa at a subscription price of one Botswana Pula per share.
The Group will also underwrite and subscribe for all shares in invest Dolar Africa (up to a maximum of BWP30 000 000), which are not taken up during the initial public offering when Invest Soar lists its ordinary shares on the Venture Capital Board of Botswana Stock Exchange.
Ecsponent CEO Terence Gregory said that these transactions will reinforce the group’s strategy to develop and expand its operations in the rest of Africa. “These important developments enable us to invest in entrepreneurs and companies with proven track records for building diversified and well-managed, high-growth…”
