In a move that will certainly shake African investment markets’ Zimbabwean group Masawara PLC recently announced a strategic and equity relationship with Sanlam Emerging Markets Limited.
In black and white terms, SEM will acquire a minority 40 % interest in Masawara Investments Mauritius Limited for a consideration in the tune of US11.6 million.
SEM is an indirect subsidiary of Sanlam Limited, a financial services and insurance holding company listed on the Johannesburg Stock Exchange.
These developments are a testimony that investments in Africa are paying dividends with resultants making impact on ordinary citizens of the continent.
“Implementation of the transaction is subject to fulfillment of various conditions precedent including obtaining of relevant regulatory approvals.
“In addition to acquirement an equity interest in MIM and SEM through its affiliates will also offer technical support services to the company’s opportunities across Africa” read part of the Masawara statement.
By offering technical support to opportunities in Africa enables upcoming entrepreneurs to develop their minds with supervision.
Africa has been in sole need for home grown investment companies to identify, enrich minds and develop ideas, Masawara seems to be providing just that.
“Masawara is a proactive investment company focused on identifying growth opportunities that deliver cash returns both in Zimbabwe and the whole of SADCC region.
“The company continues to appraise investment opportunities and is intent on unlocking value from the existing investment portfolio” it added.
Home grown investments that have been reinvented in such developments include Dandemutande Investments (Pvt) limited where Masawara holds 50 percent shares, holds an internet Access Provider Class A.
iWayAfrica Zimbabwe (Pvt) Limited which specialises in internet service providing and business solutions. Originally trading as MWEB Zim Pvt Ltd the company has broadened the internet market by bringing high speed connections in one of the most remote parts of the country.
Joina City one of the modern structures dominating the skyline of the capital city of Zimbabwe, Masawara owns an effective 40 percent in Joina.
It is the single largest commercial and retail building in Harare. Property investment has become competitive.
Masawara also holds an effective 39% interest in TA Holdings Ltd.